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Sterling trades back above 1.20
February 2, 2012The euro succumbed to month end selling pressures late yesterday and overnight, falling back versus other majors as a result. It fell to lows of $ 1.3026 versus the dollar as markets also fretted about the lack of a debt deal in Greece as improved sentiment on the back of better than expected data from [...]
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Sterling down / Euro sees Correction / AUD at all time high
January 19, 2012The euro rose versus the dollar and the yen in early morning trade with stronger-than-expected GDP figures from China triggering some covering of short positions. China’s GDP growth slowed slightly in the fourth quarter of last year, rising by 8.9% as compared with the same period in 2010. While this was slower than the previous [...]
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Australian Dollar at 27 year high against Sterling
January 19, 2012After a failed attempt to break through the $ 1.28 level yesterday, the euro drifted lower in late afternoon trade before regaining some ground overnight. The euro found some support in a better than expected German ZEW index for January, with the survey results coming in well ahead of expectations. This has helped to ease [...]
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Sterling weakness as sentiment turns negative
January 13, 2012Spurred on by successful bond auctions in Spain and Italy, which led to a fall in euro zone periphery bond yields, the euro broke through key resistance at $ 1.2820 versus the dollar yesterday as traders moved to cover some short positions. It saw further gains overnight, rising as high as $ 1.2878 in early [...]
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Sterling stalls against euro however sovereign risks remain
January 11, 2012Euro/dollar has kept to a very tight range over the past 24 hours, regaining some stability and recovering ground from its lows of $ 1.2668 seen in Asian trade on Sunday night. Sentiment, however, remains fragile ahead of this week’s Italian and Spanish debt auctions, as well as key meetings on the ongoing euro zone [...]
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Sterling gains to 15 month high against Euro
January 7, 2012The euro remains under downward pressure as we head into the first weekend of the year, starting the day below the $ 1.28 level versus the dollar and well below Stg0.83p versus sterling. As well as seeing 15-month lows versus the USD, heavy losses were also seen versus the yen overnight as the single currency [...]
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Sterling Liquidity Facility Announced in Britain
December 6, 2011UK pound lower in forex trading The sovereign debt crisis in Europe continues to color almost everything going on with financial markets around the world. As a result, it isn’t very surprising that Britain is taking measures to improve liquidity. The Bank of England just announced the creation of a sterling liquidity facility, meant to [...]
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Sterling upside limited following Inflation report
November 18, 2011After falling to fresh one month lows of $ 1.3423, the euro has recouped some of the losses seen versus the dollar and yen yesterday with players reported to be taking profits on recent moves. However, as the threat of contagion in the euro zone continues to build many are concerned at how long the [...]
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Sterling up against EUR / AUD / NZD / CAD & ZAR
November 17, 2011The euro is holding steady but at the lower end of recent trading ranges as markets continue to focus on the eurozone debt crisis. Optimism following new PMs in Greece and Italy has been undermined by yesterday’s rise in yields and markets will be on edge ahead of this morning’s release of the eurozone Q3 [...]
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Sterling Loses Ground on Quantitative Easing
October 10, 2011GBP/USD lower in forex trading The sterling is losing ground in currency trading on the FX market as the BOE announces quantitative easing. While making the interest rate announcement, the BOE also announced that it would buy more assets. As a result, the UK pound immediately began losing ground in forex trading on the currency [...]
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U.K. Pound Gains against the U.S. Dollar in Currency Trading
September 28, 2011Sterling higher in forex trading The U.K. pound is gaining against the U.S. dollar in currency trading on the FX market today on expectations that the Bank of England will support the British economy. The BOE says that some flexibility in capital requirements for banks might be in order, and some members of the MPC [...]
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STERLING SELL POSITIONS CONTINUE TO BUILD AS MARKETS STABILISE
September 28, 2011The euro has managed to claw its way back from eight month lows on reports that Europe is considering increasing the size of its bailout fund. The talk prompted a round of short covering. Some players in the market thought this could be extended given the fact that a lot of traders have recently sold [...]
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STERLING GAINS TO 18 MONTH HIGH AGAINST S.AFRICAN RAND
September 26, 2011The rand declined for a fifth day versus the euro and bonds gained on speculation the central bank will signal further rate cuts this week after the International Monetary Fund lowered its global growth estimate. The rand weakened as much as 0.6 percent to 10.5892 per euro, the weakest since Aug. 9, and traded down [...]
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STERLING AT 3 MONTH HIGH AGAINST THE USD
August 19, 2011Again a lot of the action on forex markets in the past 24 hours has centered around the Swiss franc. This fell in early trade yesterday on speculation that the Swiss might either intervene directly or set a floor on the €-CHF exchange rate after the government met to discuss measures to curb the currency’s [...]
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Forex: Sterling under pressure on London riots
August 9, 2011FXstreet.com (California) – The sterling is under pressure versus the euro as a fourth night of… For more information, read our latest forex news. FXstreet.com: Latest News
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STERLING AT 2 MONTH HIGH AGAINST THE EURO
August 8, 2011A weak round of data from the US and Europe yesterday has hit market sentiment, with July’s disappointing manufacturing ISM and PMI surveys underlining concerns about recovery in the global economy. The news of a debt deal in the US offered some support to the dollar versus the euro as did the spike in risk [...]
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STERLING CONTINUES TO SUFFER SHARP LOSSES
June 25, 2011After sharp falls yesterday (as traders bought up the dollar following the tone of the Fed’s Wednesday evening press conference and on the back of some disappointing eurozone data) the euro found some support late in the day and overnight on the news that Greece had reached agreement with the EU and IMF on the [...]
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U.K. Pound Returns to Gains
June 20, 2011Sterling in forex trading The U.K. pound is returning to gains in currency trading on the FX market. Sterling had lost ground in forex trading to the U.S. dollar earlier, but it has struggled to the positive side. However, the sterling might see more of a downside to come, thanks to concerns about what is [...]
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Sterling Still Has Challenges Ahead
June 15, 2011U.K. pound higher for now Today, the U.K. pound is higher in forex trading on the currency market. The sterling is seeing success on better than expected economic data, and riding the general wave of risk appetite that has come as a result of good news in China and the U.S. as well. Equities are [...]
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STERLING DOWN AGAINST ALL 32 COUNTERPARTS
June 13, 2011At its monthly press conference yesterday the ECB indicated that eurozone interest rates will rise at the next policy meeting in early July. As such a move has already been priced in by markets; the confirmation from Trichet had little impact on the euro. Indeed, the currency actually fell back over the course of the [...]