The euro opens this morning at a 2 month low against the pound and a four month low against the US dollar as ongoing jitters about Italy and Cyprus continue to dominate market attention. Yesterday, a weaker than expected…
The euro continues to struggle as the fall-out from the Cypriot bail-out continues to dominate market sentiment. The Banks in Cyprus are due to re-open today but it is more than likely that the Cypriot government will…
The Euro endured a day of ‘two-halves’ yesterday. In the morning, it enjoyed a rally after the overnight announcement that a deal had been struck between the eurogroup and the Cypriot government that would enable the…
The euro continues its decline as Cyprus continues to dominate the market’s attention. The European Central Bank has given the Cypriot government a deadline of Monday to reach an agreement with its international…
UK Chancellor George Osborne presented his fourth budget yesterday. He plans to stick to the path of deficit reduction saying he has cut the deficit by a third and UK interest rates remain at record lows. Headlines…
For the second consecutive day, the tiny island of Cyprus continues to dominate the market’s attention sending the euro to a four month low against the dollar. The euro fell heavily last night after the Cypriot…
The euro fell to a one month low against the pound and a three month low against the dollar as markets reacted negatively to the news over the weekend that the European Union, in exchange for an agreeing a bail-out of…
The absence of any fresh economic data until next week and some unusually positive comments from the Governor of the Bank of England, Sir Mervyn King saw the pound pick up against both the euro and the US dollar. Sir…
The pound was helped yesterday by the lack of any fresh economic data out of the UK, a poorly received Italian bond auction and much better than expected data out of the US. The Italian Treasury had to pay the highest…
The tide of poor economic data seems to have no end in sight in the UK. Yesterday, the Office for National Statistics (ONS) reported that industrial production in the UK fell at a seasonally adjusted rate of 1.2% on the…
The pound reached its lowest level against the US dollar since June 2010 at the start of the trading week as the effect of the loss of the UK’s AAA credit rating and the likelihood of further action by the Bank of…
Risk appetite came back into the markets with a vengeance after the sell-off on Monday. In New York, the Dow Jones Industrial Average rose to 14,254, its highest level in its 116-year history. London followed, closing…
The trading week started with worse than expected data out of China which caused a wave of selling leading to big falls in the world wide stock markets and a sell-off in risky assets. This allowed the pound to retrace…
The US dollar continues to strengthen against both the euro and the pound on the back of better than expected US manufacturing data and the continuing fall-out from last weekend’s Italian elections which are increasing…