Category Archives: Company News

Company News

Sterling Remains Weak

Posted on August 25, 2009 by admin

Foreign exchange rates for the pound remain bearish, sinking to an 11-day low against the single currency yesterday following strong industrial orders in the eurozone. US markets are optimistic this morning amid speculation that Ben Bernanke will be reappointed for a second term, while Israel’s central bank has voted to increase interest rates by 0.25%. Continue reading →

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U.K confidence rises

Posted on August 24, 2009 by admin

An index measuring confidence among business professionals in the UK has risen the most in over two years, as speculation grows that the UK will end its recession in the third quarter. News that Thailand has emerged from recession and improved sentiment from Ben Bernanke led to gains in Asian trading overnight, with yen and US dollar foreign exchange rates falling as demand for the safe havens diminishes.
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Interest Rates on hold

Posted on July 10, 2009 by admin

The Bank of England has voted to leave interest rates on hold and decided against expanding its quantitative easing programme, despite the downbeat outlook for the UK economy. Currency rates for the euro are stronger on the back of positive German economic data while the US dollar and yen have slipped following a small rise in risk appetite in the market.
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Sterling hits year highs against Dollar

Posted on June 1, 2009 by admin

Both sterling and euro currency rates are at their highest level this year against the US dollar as market sentiment continues to improve following news the pace of recession is moderating. This is despite news that General Motors, once the world’s largest auto manufacturer, is to declare bankruptcy later in the day. This week brings interest rate decisions from the Bank of England, European Central Bank and Australian Reserve Bank.
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GM fails to find buyer

Posted on May 28, 2009 by admin

The failure of General Motors to secure a buyer last night for its European operations has led to mounting concern over job security for auto workers in both Germany and the UK. After reaching a seven-month high against the US dollar yesterday, sterling has trimmed these gains but remains trading at firm levels against both the dollar and single currency. Continue reading →

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Japans GDP contracts 4%

Posted on May 20, 2009 by admin

Japan’s economy has contracted by 4% in the first quarter of 2009, taking the annual rate of contraction to 15.2% as the strong yen and slump in global trade battered the Japanese export sector. The pound is trading at its highest level in 2009 against the US dollar and has strengthened against the euro and yen amidst the view that the UK is well placed for economic recovery.
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Sterling five month high

Posted on May 19, 2009 by admin

The pound has hit a five-month high against the US dollar this morning on the back of the view that recession is bottoming out in the UK. Anticipation of economic recovery has driven demand for the higher yielding currencies and both the pound and euro climbed against the dollar overnight. Continue reading →

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US Retail Slumps

Posted on May 14, 2009 by admin

The risk rally lost momentum overnight as US retail sales figures declined by 0.4% in April. US retail sales figures are a crucial to wider economic sentiment as they are directly related to business confidence and import levels. Weakened growth predictions from the Bank of England and negative industrial production figures from the eurozone also dragged exchange rates downwards for the “riskier” currencies.
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Markets look to BOE

Posted on May 7, 2009 by admin

Currency exchange rates are likely to be subject to volatility today as interest rate decisions from the Bank of England and ECB are due. The results of “stress tests” on US banks are also due later in the day and this could affect exchange rates for all the major currencies. The Australian dollar reached a 12-year high against the pound overnight as positive figures from the US and buoyant Australian retail sales improved investor confidence.
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Pound hits Four Month Highs

Posted on May 6, 2009 by admin

The bullish trend in equities and currency exchange rates continues this week as both the euro and pound reached four month highs against the US dollar. Improved prospects of global recovery are encouraging the flow of funds away from safe havens and many of the “riskier” currencies are receiving a boost in exchange rates this week.
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