Latest currency exchange news at MoneyTransfer.co.uk.
A quiet start to the trading week for the pound with only scant data out.
Published: 18 Jun at 11 AM
In the UK, property website Rightmove reported that the average asking price of properties in the UK has reached a new record high, above £250,000 for the first time.
Data showed that asking prices rose by a further 1.2% in May, the sixth consecutive monthly rise of 2013 to date.
Miles Shipside, Director and Housing Market Analyst at...
The pound starts to give up its recent highs
Published: 14 Jun at 11 AM
The Pound Sterling fell heavily yesterday against all the high yielding currencies, coming off recent multi month highs in the case of the Australian dollar and multi-month highs against the New Zealand dollar and South African Rand.
The absence of any serious data out from the UK to support such a move left analysts suggesting that a...
The pound continues on the upside
Published: 13 Jun at 7 PM
The pound climbed to a 4 month high against the US dollar and a 9 month high against the New Zealand dollar yesterday on the back of better than expected UK employment data.
The Office for National Statistics (ONS) reported yesterday that UK unemployment fell slightly in May with the claimant count dropping by 8,600 versus forecasts of a...
Highly Volatile Foreign Exchange Markets, Interest Rates Held
Published: 7 Jun at 10 AM
A highly volatile day in the markets yesterday highlighted by the latest monthly policy decisions from both the Bank of England and the European Central Bank.
In the UK, the Bank of England (BoE) kept interest rates at their historic low of 0.5%, a rate held in place since March 2009. The BoE also kept its asset purchasing scheme,...
The pound receives a further boost
Published: 6 Jun at 11 AM
The pound received a further boost yesterday after the publication of better than expected UK services sector data as the sector expanded at its fastest rate in more than three years.
The Markit/CIPS Purchasing Managers' Index (PMI) for services climbed from the 52.9 reading in April to 54.9 in May, its strongest reading since March 2012....
The pound reaches a 13 month high against the Aussie
Published: 5 Jun at 10 AM
Better than expected UK construction sector and retail sales data helped the pound reach its highest level against the Aussie for 13 months yesterday.
Data from Markit and the Chartered Institute of Purchasing and Supply (CIPS) showed an unexpected return to growth last months for the UK’s construction industry.
The latest index...
The pound receives a boost
Published: 4 Jun at 10 AM
Worldwide manufacturing data releases proved the highlight of yesterday’s data releases and were very much a mixed bag.
The pound benefited from better than expected data with the UK manufacturing sector purchasing managers’ index for the month of May coming in at 51.3 points, a 14-month high.
Growth in the sector was described...
The market seems to be in ‘consolidation’ mode
Published: 31 May at 2 PM
Data out from the UK, US and the euro zone failed to have any dramatic impact on the markets yesterday. Instead, the markets seem to be in ‘ consolidation’ mode as we start the last trading day of the month.
In the UK, data from the Nationwide suggest that UK house price growth continued to accelerate in May with the number of...
The foreign exchange markets fret again
Published: 30 May at 9 AM
After the positive stance of Tuesday, the markets went into reverse yesterday amidst concerns about the direction of monetary policy in the world’s biggest economy and some poor economic data out yesterday.
The more negative tone was set by a report from the Organization for Economic Cooperation and Development (OECD) which cut global...
Better US data cheers the markets
Published: 29 May at 11 AM
Better than expected US data sparked the markets into life in this short trading week yesterday.
Sentiment was boosted by a better than expected House price data which surged to a seven year high. In addition, data showed that US consumer confidence surged to a five-year high.
Sentiment was also boosted by comments from a European...
The return of risk appetite?
Published: 28 May at 10 AM
A return to risk appetite in the markets is likely to mark trading today after the low trading volumes experienced yesterday with both the London and New York markets closed yesterday.
Analysts expect the markets to play ‘catch up’ today as investors have had an opportunity to weigh up last week’s events and, in particular, US...
Risk sentiment turns negative
Published: 24 May at 11 AM
A major sell-off of risk was felt in worldwide stock markets yesterday after the Japanese stock market fell by 7.3% yesterday, its biggest one-day fall in 13 years. The losses extended to all the European bourses but although the Dow in New York opened over 100 points down, it closed fractionally down on the day after staging something of a...
The pound sterling continues to fall
Published: 23 May at 11 AM
The pound continues to fall against the majority of the 16 most actively traded currencies yesterday after the publication of the minutes from the last Bank of England (BoE) Monetary Policy Committee (MPC) meeting revealed that the MPC voted to unanimously maintain UK interest rates at their historic low figure of 0.5%. The MPC also voted 6-3...
The pound endures a difficult day yesterday
Published: 22 May at 1 PM
The latest UK inflation data published yesterday showed that the UK consumer price index fell from 2.8% in March to 2.4% in April 2013 according to the Office for National Statistics (ONS). The consensus estimate had been for an increase of 2.7%.
Whilst some welcomed the news, it also increased speculation that the Bank of England may...
The FTSE-100 index in London hits a 13 year high
Published: 21 May at 11 AM
A quiet start to the week saw the US dollar retreat as the ‘risk-on’ rally in world stock markets continues unabated. Yesterday, the Footsie in London hit a 13 year high.
Today sees the publication of UK inflation data but tomorrow, with the publication of the minutes of the last Bank of England and Federal Reserve meetings is likely...
BOE leave UK interest rates unchanged
Published: 10 May at 10 AM
At its latest policy meeting, the Bank of England decided to maintain current policy settings leaving UK interest rates unchanged at 0.5% and the size of its Quantitative Easing (QE) program also unchanged at a total of £375 billion.
Recent economic data has revealed that UK gross domestic product (GDP) climbed 0.3% in the first quarter...
The pound fell yesterday ahead of the Bank of England policy decision
Published: 9 May at 9 AM
The pound fell against the majority of the 16 most actively traded currencies yesterday ahead of the key policy announcement from The Bank of England, due at midday today.
Analysts believe that despite data out in the last two weeks showing that the UK avoided the so-called ‘triple-dip’ recession, the economic outlook is still so poor...
Pound Sterling exchange rate continues to rise
Published: 1 May at 10 AM
The pound starts a new month at multi-week highs against a number of currencies following the release of the GDP data last week that confirmed the UK has avoided a so-called ‘triple-dip’ recession.
The pound has also found support as over the last few days, the quality of economic data from the US, China and the euro zone has...
The pound reaches a 10 week high against the dollar
Published: 30 Apr at 11 AM
The pound enjoyed a strong start to the trading week, boosted by comments from Bank of England policymaker Ian McCafferty who said yesterday that he sees grounds for hope that the UK economy will pick up following a batch of data pointing to growth. McCafferty said in a newspaper interview that he was "cautiously optimistic" about...
Better data help boost the pound sterling
Published: 26 Apr at 2 PM
The pound rose sharply against all 16 of the most actively traded currencies in the market after the Office for National Statistics (ONS) reported that the UK economy grew by a larger than expected margin of 0.3% in the first quarter of 2013, thus avoiding a triple-dip recession.
Strong services sector and North Sea oil production data...