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…
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…
The pound enjoyed a modest pick-up yesterday against the euro after the publication of worse than expected German data for the second day in a row. This increased speculation that the European Central Bank (ECB) may vote…
Mixed news on the state of the UK economy yesterday as the Office for National Statistics (ONS) reported yesterday that UK public borrowing has fallen to £120.6 billion over the last financial year, £0.3 billion lower…
Credit ratings agency Fitch became the second ratings agency in as many months to downgrade the long-term debt of the United Kingdom from its prized AAA status to AA+, albeit with a ‘stable’ outlook to it instead of its…
The dollar registered strong gains across the board yesterday on a surge in so called ‘safe-haven’ flows as the negative sentiment that has dominated the market all week continues. Overnight, the latest Beige Book from…
A report from the International Monetary Fund (IMF) showing that the global economy is likely to only grow by 3.3% in 2013 gave further impetus to the risk aversion theme currently dominating the world markets. The IMF…
A combination of poor economic data out of the world’s two largest economies, the USA and China led to a rout in the world’s stock and commodity markets and a large sell-off for high yielding currencies like the…
With worldwide stock markets buoyant with New York and Tokyo prominent, risk appetite continues to dominate the markets, aiding the rise of high yielding currencies and hurting safe haven currencies. The New Zealand…
The pound fell again yesterday against the majority of the 16 most actively traded currencies in the market after Bank of England policymaker David Miles said that the UK’s current monetary policy needs assessing given…
Later today sees the monthly policy announcements from both the Bank of England (BOE) and European Central Bank (ECB). Whilst both are expected to adopt a ‘wait and see’ approach and leave official policy unchanged,…
The short post-Easter trading week started with the pound falling against the majority of the 16 most actively traded currencies yesterday as further poor economic data out of the UK and speculation that the Bank of…