Exchange Rates UK - Currency News

Sterling Subdued Ahead of QE Announcement

Colin Lawrence — Thu, 09 Feb 12 09:00:00 +0000

The rally in the euro and European shares continued this morning as Greece edges closer to a bailout deal and on expectations the Bank of England and the European Central Bank will maintain support for the move into riskier assets. An announcement is expected next week, the credibility of any plan has yet to be assessed by the markets....

Exchange Rates UK - Exchange Rates and Foreign Exchange

Sterling Rises to a 12 Week High Versus Dollar

Samuel Allen — Wed, 08 Feb 12 09:00:00 +0000

Sterling rose to a fresh 12-week high this morning, tracking gains in the Euro on hopes Greece would reach a deal on austerity measures and avoid a disorderly default.
The pound rose around 0.1 percent on the day to $1.5922 its highest since mid-November.
The euro was at eight-week high and European shares rose on Wednesday on hopes...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Australian Dollar Bounces Back on Shock Move from RBA

Samuel Allen — Tue, 07 Feb 12 11:00:00 +0000

The Aussie dollar gained broadly as much of the market broadly expected an interest rate cut. In a brief statement after its monthly policy meeting, however, the RBA did leave the door open to a drop if domestic demand weakened further.
The Australian Dollar rallied 1% against Sterling as soon as the London market opened, the rate of...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Sterling Suffers as the Bank Of England Signal Further Easing This Week.

Samuel Allen — Mon, 06 Feb 12 09:00:00 +0000

The Bank of England looks set to plough on with one more round of quantitative easing this week to shore up Britain's recovery, despite signs that the economy may be turning the corner after contracting in the last quarter of 2011. Inflation is dropping �organically� as predicted allowing the BOE to consider at least another �50 Billion....

Exchange Rates UK - Exchange Rates and Foreign Exchange

Sterling Continues To Rally-Momentum Slows

Samuel Allen — Fri, 03 Feb 12 12:00:00 +0000

Sterling has continued to rally against the weakening Dollar approached a 2-1/2 month high today. Sterling has received a boost by stronger-than-expected data from the UK's dominant services sector that helped ease concerns the economy could slip into recession.
Sterling has also received an unexpected boost after the release of...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Risk Rocks the Forex Markets In Lead up to Greek Default

Samuel Allen — Wed, 01 Feb 12 09:00:00 +0000

Sterling dropped from a two-and-a-half-month high against the dollar on this morning as risk appetite waned and investors awaited fresh evidence of how the UK economy was performing in the first quarter of this year. The Dollar also weakened across the board as Forex traders wound down their Dollar risk hedges.
UK data so far has shown...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Euro Continues To rise as Greek Deal Reaches Conclusion

Samuel Allen — Tue, 31 Jan 12 11:00:00 +0000

The euro continued to rise against the dollar this morning, supported by expectations that a Greek debt restructuring deal could be clinched soon to help avoid a messy default, while a resurgent yen kept alive the risk of intervention by Japanese authorities.

The euro got a lift after Greek Prime Minister Lucas Papademos said...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Euro Growth Slows and Australian Banks Watched With Caution

Samuel Allen — Mon, 30 Jan 12 09:00:00 +0000

The euro came off six-week highs against the dollar during the Asian trading session, continuing into the London open as investors took profits made on its strongest weekly rally in more than three months and cautiously awaited a debt swap deal between Greece and its private creditors.
Global Forex traders remain cautious as the euro zone...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Further Quantitative Easing Announced- Dollar Weakens

Samuel Allen — Thu, 26 Jan 12 09:00:00 +0000

The Australian dollar rose to a three month high against the U.S. dollar during Asian trading with risk sentiment bolstered by the Federal Reserve's pledge to keep rates ultra low for longer than previously expected, this move has enhanced the exchange rate value of higher yielding currencies.
The Swiss franc rose alongside the euro up...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Euro Strengthens Whilst Sterling Drops

Samuel Allen — Wed, 25 Jan 12 10:00:00 +0000

Sterling dropped back from a three week high against the Dollar this morning and looked likely to stay under pressure ahead of the release of UK GDP figures due for release this morning at 9.30, the figures are expected to show the economy has contracted.
Economists are forecasting UK gross domestic product to have declined by 0.1 percent...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rates Update - Greek Debt Deal Rumour Drives Risk Appetite

Samuel Allen — Tue, 24 Jan 12 10:00:00 +0000

The Pound has fallen back into the spotlight on the open for this week as traders start to appreciate the bleak outlook for the UK economy this year. With Inflation easing, anaemic economic growth and high unemployment, the prospects for more Quantitative Easing is becoming increasingly likely. The final round of bond purchasing ends this...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecast - Greece in Focus sparks Euro Decline

Samuel Allen — Fri, 20 Jan 12 18:00:00 +0000

The Euro in the past few days has traded within a 2% range against the Pound and the US Dollar as the bulls struggle to overcome the bears. Some analysts feel that the Euro sell trade has been overplayed and that it is time for a substantial relief rally. Others will argue that the Euro sell off is simply taking a breather and we will soon...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Euro news - Market Regains Some Confidence and Sells into the USD

Samuel Allen — Thu, 19 Jan 12 20:00:00 +0000

The USD has backed off against its European counterparts for 5 consecutive days. We would argue that this could represent improved confidence in the market with traders numbing to the pressures from Europe for the time being.

A relief rally is well and truly under way and it appears that the GBP/USD pair has bottomed out at 1.5234 forming...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecast - UK Unemployment Rate Rises to 16 Year High, Euro rallies on Rumours

Samuel Allen — Wed, 18 Jan 12 18:00:00 +0000

Today�s UK unemployment figures were released at 8.4% above the expected 8.3% predicted by economists. Jobless claims also rose by 1,200 in November better than the predicted 7,000. The actual number of people claiming jobless benefits increased to 1.6 million the highest since March 2010. Today�s figures although mixed have helped to fuel...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Currency Exchange Report - Chinese Growth Data Takes centre Stage Commodity Currencies Soar

Samuel Allen — Wed, 18 Jan 12 09:00:00 +0000

The high yielding currencies have advanced aggressively in today�s trading session. The GBP/AUD pair made a record session low of 1.4718 and looks as though it could continue to advance further. The GBP/NZD pair has also traded down to 1.92 just 3.5% from the July 2011 low at 1.8583. The main reason for the advance as discussed in previous...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecast - Greek Debt Negotiations Fall into Spotlight EUR and USD Hold Steady

Samuel Allen — Mon, 16 Jan 12 18:00:00 +0000

The news of the sovereign debt downgrades is quickly fading away with focus now shifting onto the Greek debt swap negotiations. If the Institute of International Finance (IIF) does not reach agreement with Greece we could see a default by the end of March. Greek politicians have a very difficult task at hand and must face the wrath of the...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Currency Exchange News - USD Extends as Risk Aversion Bites Back

Samuel Allen — Fri, 13 Jan 12 18:00:00 +0000

Risk appetite had been holding support on the cable pair (GBP/USD), however a U-turn in favour of risk aversion is clear on today�s news that France�s credit rating could be in line for a downgrade. The Fitch rating agency had earlier this week announced that they would not downgrade France however this was no real surprise considering...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecasts - ECB & BOE Hold Interest Rates, EUR Rallies

Samuel Allen — Fri, 13 Jan 12 09:00:00 +0000

Markets had been anticipating yesterday�s interest rate announcements from the EU and the UK with eager anticipation all week. Carry traders hoping to benefit from a cut in Euro-zone interest rates have been left disappointed on the news that the Euro interest rate is to remain on hold.

Due to the expectation that there was potential for...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Currency Exchange Update - What is Currently Driving Risk Sentiment and Therefore USD, AUD, NZD, ZAR & CAD

Samuel Allen — Thu, 12 Jan 12 09:00:00 +0000

Most analysts are claiming that risk sentiment is the key driver of most major currencies on the open of the year. Whether we are in a risk on or risk off environment poses an interesting argument for us to reflect upon?

Most speculators would expect a risk on trading environment to be caused by good feeling in the markets as traders hope...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecast - Risk Appetite Returns, High yielding Currencies AUD, ZAR, CAD & NZD Surge

Samuel Allen — Tue, 10 Jan 12 18:00:00 +0000

The Australian Dollar has outperformed its counterparts advancing almost 1% vs the USD and 0.6% vs the GBP. This move can be attributed to improved risk appetite following rating agencies Fitch announcing that it is unlikely that they will downgrade the French credit rating. This has helped to ease concerns that the French will suffer...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate News - Merkel Sarkozey Meeting Drives Risk Sentiments, EUR Sell Off Falters

Samuel Allen — Mon, 09 Jan 12 19:03:19 +0000

German Chancellor Angela Merkel and French President Nicolas Sarkozy met today in Berlin for talks on resolving the ongoing debt crisis. As expected the� Merkozy� meeting has helped strengthen the Euro in trade today. The two leaders have been working on the much promised fiscal compacting required to help ease the Euro-zone out of its...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange Rate Forecast - USD Gains on Positive Non Farms, EUR struggles on Soaring Italian Bond Yield

Samuel Allen — Fri, 06 Jan 12 17:51:31 +0000

The USD has gained 0.5% in trade today as we see an ongoing flight to safety. US Non Farms aided the situation with an additional 200k jobs for December, up almost 25% on the consensus forecast. The Unemployment rate in the US also dropped from 8.7% to 8.5% as labour market conditions seem to be improving for the World�s largest...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Exchange rate news - Euro Worries drive fresh Lows for EUR GBP and EUR USD

Samuel Allen — Thu, 05 Jan 12 19:26:48 +0000

The French debt auction has done little to consol traders concerns over the spiralling European Sovereign Debt Crisis. This has not been helped by German politicians indicating that they have decided that they will no longer continue to raise the ceiling on the spiralling Euro-Zone�s bail out fund.

Domestic politics have recently been...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Forex Risk is Back On

Colin Lawrence — Wed, 21 Dec 11 09:58:49 +0000

The Sterling dollar rate was higher again this morning after risk appetite rose ahead of a European Central Bank tender of three-year loans and traded close to an 11-month high against the euro, supported by investors looking for a relative safe haven from the euro zone.
Sterling Euro was also up higher after the bank of England�s minutes...

Exchange Rates UK - Exchange Rates and Foreign Exchange

Sterling Hits 91/2 Month High due to Safe Haven Status

Samuel Allen — Tue, 20 Dec 11 11:31:51 +0000

European shares and the euro rose this morning after surprisingly good news about the German economy and a better-than-expected outcome at a Spanish treasury bill auction, but concerns about the euro zone debt crisis has limited gains.
The Munich-based Ifo think-tank said German business sentiment rose sharply in December, defying...

Exchange Rates UK - Exchange Rates and Foreign Exchange