Category Archives: Other Currencies

Other Currencies

Euro Rally Continues

Posted on August 27, 2009 by admin

The single currency has extended its rally against the pound this morning, gaining support from the release of the German consumer price index and consumer confidence figures. International risk appetite took a hit yesterday as US durable goods orders came in more modest than expected, and currency exchange rates for the yen strengthened in the run up to Japan’s general election. Continue reading →

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Euro Confidence Rises

Posted on August 26, 2009 by admin

This morning’s figures show the German business climate and expectations rose in August, sparking further gains for the euro which has strengthened against its major currency partners. Sterling sentiment remains weak, putting pressure on currency rates for the pound, while Japanese export levels have fallen for the tenth straight month.
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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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Sterling spikes against Dollar

Posted on August 5, 2009 by admin

Sterling foreign exchange rates have risen sharply against the US dollar this morning in response to figures showing the service sector expanded in July. Employment figures and factory orders due in the US today could cause currency volatility while Bank of England and ECB interest rate decisions due tomorrow.
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Sterling Recovers

Posted on July 23, 2009 by admin

Sterling and euro exchange rates have trimmed losses against the US dollar this morning as rising retail sales in the UK and profits at Credit Suisse supported the currencies. US equity markets remain relatively quiet as investors digest news from…

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US Earnings Figures Strong

Posted on July 16, 2009 by admin

Strong corporate earnings figures in the US and positive Chinese economic data supported risk and equity markets yesterday, sending currency exchange rates across Europe and Asia higher. The figures boosted market sentiment across the board and led to a US dollar selling session with exchange rates improving for the Pound, Australian and New Zealand dollars. Continue reading →

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Inflation Falls

Posted on July 14, 2009 by admin

The annual rate of inflation in the UK has fallen below the Bank of England’s 2% target for the first time in 21 months. Today’s calendar is packed with economic data that could cause a reshuffling of currency exchange rates that will potentially benefit some of the higher yielding currencies. Markets will focus on US retail sales figures and the producer price index out this afternoon. Continue reading →

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Eurozone contracts

Posted on July 8, 2009 by admin

GDP for the first quarter has contracted -2.5% in the eurozone, a figure in line with market expectations and one that takes the annual rate of decline to -4.9%. Exchange rates for many of the high yielding currencies are lower this morning, particularly the pound which is under pressure in anticipation of trade balance figures and the MPC interest rate decision due tomorrow.
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Interest Rates on Hold

Posted on June 5, 2009 by admin

Both the ECB and the Bank of England opted to leave interest rates unchanged yesterday, at 1% and 0.5% respectively. The Bank of England also opted to leave QE levels unchanged. Today foreign exchange markets will be interested in US employment data and this could influence the underlying dollar trend in the coming week.
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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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