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Snow disrupts UK
A snowstorm sweeping London is keeping trading thin today as adverse weather conditions disrupt transport routes across the capital. An estimated 20% of people have not made it into work at a cost of billions of Pounds to the UK economy. Continue reading
US Trade Balance Reduced by 28.7%
The US trade balance released yesterday showed a sharper than expected reduction, by 28.7% due to reduced consumer demand and the lower price of oil. This supported the US Dollar internationally at the expense of the Pound and Euro.
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Markets await FOMC decision
The Euro has been the major benefactor overnight as markets await a series of important data from the US and UK this week. The Dollar is broadly weaker in the run up to the Federal Reserve interest rate decision and Sterling remains low against the single currency as markets contend with more economic gloom in the UK.
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Posted in Currency News, Euros, Other Currencies, UK Pound Sterling, US Dollars
Tagged bank of england, banks, currency trading, Euros, Eurozone, John Varley, UK Pound Sterling, US Dollars
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Pound Continues to Slide
Sterling has sunk again against the Euro and US Dollar ahead of UK trade figures released this morning. Negative underlying trends and production figures are capping the value of Sterling at present and it remains hovering just above all time lows versus the Euro. Continue reading
Euro, Sterling Recover
The Pound and Euro have recovered from very low levels last Thursday following interest rate decisions from their respective central banks. Rising unemployment on ‘non-farm Friday’ in the US sent the Dollar lower but markets have gained ground this morning, buoyed by Obama’s announcement of increased government spending to stave off recession in the US. Continue reading
Posted in Currency News, Euros, Other Currencies, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, banks, BOE, currency exchange, currency solutions, currency trading, ECB, European Central Bank, Euros, Eurozone, Interest rates, the pound, Trichet, uk banks, uk economy, UK Pound Sterling, US Dollars, World economy
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Bank Cuts to 2%
Interest rate cuts yesterday forced the Pound to an historic low against the Euro as the Bank of England reduced rates to their lowest level in 57 years. The Bank’s base rate was lowered by 1%, while the ECB reduced rates by 0.75% in a move that was widely expected by markets. Global equities are lower this morning ahead of the publication of US employment figures later in the day. Continue reading
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged bank of england, banks, BOE, currency exchange, currency solutions, currency trading, ECB, European Central Bank, Euros, Interest rates, the pound, uk banks, uk economy, UK Pound Sterling, US Dollars, World economy
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