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US unemployment hits 26-year high
The US unemployment rate has hit a 26-year high as the labour market shed 539,000 non-farm jobs in April. However despite the record figure, the upward trend in currency exchange rates and equity markets has continued with the pound and…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Australian Dollar, Canadian job market, currencies, currency, Currency News, currency solutions, currency trading, dollars, ECB, Euros, pound, Pound Sterling, Unemployment, US Dollars
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Euro at 5 week low
The euro is sitting at a 5 week low against the US dollar this morning as the single currency continues to be plagued by uncertainty surrounding ECB strategy. Larger than expected credit write downs at Bank of America yesterday reignited…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged currencies, currency, currency exchange, Currency News, currency solutions, dollars, ECB, Euros, New Zealand dollar, Other Currencies, Pound Sterling, Treasury Secretary Geithner, uk market, uk pounds, US Dollars, US Markets, Washington Post Consumer Confidence
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Euro hits one-month low against dollar
The CBI has predicted the UK economy will contract by 3.9% in 2009, more than twice the amount predicted by Alistair Darling late last year. The euro has reached a one month low against the dollar amid concerns that the…
Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Alistair Darling, currencies, currency, currency exchange, Currency News, currency solutions, dollars, ECB, Euros, Pound Sterling, recession, uk market, uk pounds, US Dollars, US Markets
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UK GDP contracts -1.5%
Figures released this morning show UK GDP contracted 1.5% in the final quarter of 2008. This takes annual growth to -1.9%; a figure largely in line with market expectations. Wall Street gained over 3% yesterday, the largest gain in a month, after comments from Head of the Federal Reserve Ben Bernanke quelled investor fears over the state of the US banking sector. Continue reading
Posted in Company News, Currency News, Euros, Other Currencies, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, best rates currency, Buy Currency, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, ECB, European Central Bank, Euros, Eurozone, Interest rates, Oil Price, personal currency service, RBS, the pound, uk banks, uk economy, UK Pound Sterling, US Dollars, World economy
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Euro Under Pressure
The Pound fell to a two week low against the Dollar yesterday as minutes from the MPC meeting revealed quantitative easing is increasingly likely for the UK. The Euro is under pressure due to concerns over the economic situation in Eastern Europe and the US has passed a $275 billion package to address the crisis in the housing market.
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Tagged Asian currencies, bank of england, Buy Currency, commission free currency, Consumer Spending, currency exchange, Currency Forward, Currency Future, currency solutions, currency trading, ECB, Interest rates, personal currency service, uk banks, uk economy, UK Pound Sterling, US Dollars
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MPC Votes 8-1
The Sterling-Dollar exchange rate has declined this morning after the release of MPC minutes which showed an 8-1 vote for a 0.5% reduction in the base rate. David Blanchflower was again the dissenting voice within the Bank as he argued the 1% reduction should be taken ‘without delay’. Global equities remain bearish as unease surrounds global recovery prospects and this is putting pressure on European and Asian exchange rates.
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Posted in Company News, Currency News, Euros, Financial News, Other Currencies, Special Currency Offers, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, banks, commission free currency, Consumer Spending, currency exchange, currency solutions, currency trading, ECB, Euros, Interest rates, Oil Price, personal currency service, the pound, uk economy, UK Pound Sterling, US Dollars
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Rate decisions due
Trading is volatile this morning ahead of the Bank of England and ECB interest rate decisions due this afternoon. US unemployment figures have risen by over 500,000 in January alone and shares in Europe’s major banks have declined as Swiss Re and Deutsche Bank have reported massive profit losses for 2008. Continue reading
Posted in Currency News, Euros, Other Currencies, UK Pound Sterling, US Dollars
Tagged bank of england, banks, BOE, currency exchange, currency trading, ECB, European Central Bank, Eurozone, Interest rates, the pound, uk banks, uk economy, UK Pound Sterling, US Dollars, World economy
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Pound gains on Euro
The Pound made significant gains on the Euro overnight as comments from leading speculator George Soros and negative economic data placed the single currency under pressure. US GDP figures out this afternoon are likely to be a source of market volatility as they are expected to show a deep contraction in quarter 4 of 2008. Continue reading
Pound under Pressure
The Pound has continued to slump against the US Dollar reaching 1.36 yesterday, the lowest level since 1985. Sterling continues to be battered by spiralling government debt and the likelihood of more unconventional monetary easing measures from the MPC. Wall Street equities rallied reviving risk appetite internationally, however Sterling remained exempt and suffered against most of its international currency partners.
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Posted in Currency News, Euros, Financial News, Other Currencies, UK Pound Sterling, US Dollars
Tagged Asian currencies, bank of england, currency exchange, currency trading, ECB, European Central Bank, Euros, Eurozone, Interest rates, uk banks, UK Pound Sterling, US Dollars, World economy
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Pound Slumps along with Market Confidence
The Pound declined to a 6 year low against the Dollar yesterday as market confidence was shattered by the announcement of the largest profit loss in history from RBS. The EU has revised growth predictions downwards to -1.9% for 2009 and equity markets are awaiting a fiscal stimulus package announcement from the US. Continue reading