Sterling slips to two-week low against resurgent euro

Sterling continued its 10-day decline against a resurgent euro yesterday, falling to its lowest in two weeks, as investors looked ahead to British growth data later in the week. With Chinese market turmoil and a slide in commodity prices throwing doubt over the strength of global growth, some sterling traders are starting to question whether the … Continue reading →

Global Markets Splutter

Sterling eased against the dollar on Friday, its weakest weekly performance in three, after recent data disappointed and falling oil prices raised some doubts over when the Bank of England would hike interest rates. Sterling dropped to $1.5485, down 0.2 percent on the day, having hit $1.5469 earlier in the day — its lowest in … Continue reading →

GBP/USD edges lower

The pound edged lower against the U.S. dollar, after the release of downbeat U.K. retail sales data, although hopes for a rate hike by the Bank of England later in the year continued to support. GBP/USD hit 1.5480 during European morning trade, the session low.  The U.K. Office for National Statistics reported on Thursday that … Continue reading →

Sterling see-saws after BoE minutes

Sterling briefly nudged higher on Wednesday after minutes from the Bank of England’s latest policy meeting suggested that more policymakers were edging towards voting for a first interest rate hike since before the financial crisis. Though all nine monetary policy committee members voted to keep rates at their record lows, for a number of them the … Continue reading →

Euro Stages Comeback Against Majors

The pound is lower against the euro this morning as a combination of euro strength and mixed messages from BoE Governor Mark Carney saw GBP/EUE lower by about 1 cent. Previously it was thought that an interest rate hike would come at the end of the year, but now it sounds like Carney is trying to … Continue reading →

UK Rate hike bets keep Sterling close to 7-1/2 year highs.

Sterling inched lower against the euro on Monday but was still close to a 7-1/2-year high against a trade-weighted basket of currencies, as investors bet the  Bank of England will raise  interest rates in early 2016. With no major data releases or speeches by policymakers scheduled for yesterday, currency traders focused instead on Wednesday’s minutes from … Continue reading →

Dollar Bolstered by U.S. Rate Rise Hope

The pound edged lower against the dollar on Friday, pulling away from two-week highs hit earlier in the week, as upbeat U.S. economic data added to expectations for an interest rate hike this fall. GBP/USD hit highs of 1.5676 on Wednesday, the most since July 1, before subsequently consolidating at 1.5602 by late Friday, down … Continue reading →

Mark Flashes Some Ankle – Traders Swoon

Sterling gained around half a percent against both the dollar and the euro on Tuesday after Bank of England Governor Mark Carney warned a first rise in interest rates since the 2008 financial crash was getting closer. A decline by the dollar after a U.S. retail sales report also helped sterling. But it was the UK … Continue reading →

Greek Drama Proves to be Storm in a Teacup

The pound rose against the dollar on Friday as hopes for a deal to avert a Greek exit from the euro zone and rebound in Chinese shares bolstered investor confidence. GBP/USD hit highs of 1.5551, the most since July 7, before pulling back to 1.5494 in late trade, ending up 0.79% for the day. The pound … Continue reading →

Sterling Drops to 1 Month Lows

Sterling fell 1 percent against the euro and nearly 0.7 percent against the dollar on Wednesday, after Britain’s finance minister announced spending cuts in a budget speech that also lowered growth forecasts. Growth for 2015 was forecast to be 2.4 percent, down from a forecast of 2.5 percent made in March, George Osborne told parliament, … Continue reading →