Sterling steady against euro despite election fears

Over the past month, the pound has sharply outperformed a euro weakened by the European Central Bank’s quantitative easing programme. However, the pound could be upset if chancellor George Osborne is tempted into a big giveaway this week, in the last Budget of the parliament on 18 March, only seven weeks ahead of the general … Continue reading →

Dollar Powers Ahead of the Weaklings

Sterling fell to its lowest in almost five years against the dollar on Friday, compounding its steepest fortnightly declines since 2010 as investors bet the interest rate paths of the UK and the United States will diverge. Bank of England Governor Mark Carney said on Thursday that he was in no hurry to raise interest rates. … Continue reading →

Uber Dove Carney In No Hurry to Raise Rates

Sterling hit its lowest against the dollar since July 2013 on Thursday after Bank of England Governor Mark Carney signalled he was in no rush to raise interest rates, disappointing some expectations of a hike in early 2016. Sterling fell to $1.4887, down 0.3 percent on the day against a dollar. The pound had earlier risen against … Continue reading →

Euro Extends Losses Across the Board

Sterling shrugged off disappointing UK economic data yesterday in the way of manufacturing data which came in negative, from an expected positive number, as GBP/EUR hit new multi year highs.  We saw over one and a half cent gained in the pounds favour against its European counterpart as investors dumped the single currency and bought … Continue reading →

Sterling hits seven-year high against euro as ECB launches QE

Sterling hit a seven-year high against the euro yesterday as the European Central Bank began an asset purchase programme that will pump over a trillion euros into the European currency bloc. The ECB said yesterday that it and the euro zone’s national central banks had begun buying government bonds under its quantitative easing programme, which is aimed at … Continue reading →