It was a fairly quiet end to last week for our most commonly traded currency pair, GBP/EUR, with the cross remaining in a tight range for most of the day. It was a different story for GBP/USD however, as the US currency lost nearly one percent to the pound. Optimism over the potential for an … Read more Greece Thrown Final Lifeline
Pound/Euro rates near €1.40 The Eurozone quantitative easing programme kicked off yesterday with the ECB buying back 1trillion euros worth of bonds from its member states. ECB president Mario Draghi is hoping the plan will have similar effects as the ones introduced by the Bank of England and Federal Reserve arguing, “We have already seen … Read more Pound/Euro rates near €1.40
Central bank still views Swiss franc as overvalued Speaking in Brussels on Tuesday, Swiss National Bank chairman, Thomas Jordan, announced that the Swiss franc was still significantly overvalued and that the bank would continue to be active in the forex market. After the SNB’s shock decision to scrap the euro peg, the franc appreciated within … Read more Reports emerge SNB continue to be active in the forex market
Pound makes gains as wage growth continues Data released yesterday helped to dismiss underlying concerns that the UK economy was slowing down and suffering a knock-on effect from the situation in the eurozone. The day kicked off with average earnings, claimant count change and unemployment rate releases all improving on forecasts. Wage growth in the … Read more Sterling trumps counterparts after run of good data
Is SNB deliberately weakening currency? The Swiss franc fell to a two week low today, amid rumours of central bank intervention by the Swiss National Bank (SNB) in an effort to stem its current rally. After the critical move from the SNB in January to remove the minimum peg against the euro, we saw the franc … Read more Swiss Franc hits two week low amid rumours of central bank intervention
Mario Draghi takes the ECB all-in What a day for the FX markets yesterday as the ECB unleashed a comprehensive quantitative easing (QE) plan. The far-reaching package will see €60bn of assets, including government bonds, purchased every month beginning in March and potentially running until September 2016 – or, in Mario Draghi’s words, “until we … Read more Mario Draghi announces QE
GBP/USD In the last week sterling has taken a beating from the greenback, reaching an 18 month low of $1.5044. However, the pound regained some of its recent losses against the dollar after the US released worse than expected core retail sales data yesterday, the month-on-month figure coming in 1.1% below forecast. Paul Diggle, an … Read more Poor core retail sales m/m from the US
Aussie dollar benefits from European turmoil The Australian dollar has now gained six cents against the pound over the last month, as problems in the Eurozone help push GBP/AUD lower. Both the antipodean dollars have benefitted from these issues, as investors seek higher yielding assets. Low oil prices have also had a positive knock-on effect … Read more GBP/AUD falls to mid $1.80s
Yet again yesterday was a quiet day in the markets for GBP/EUR. The only data releases of importance came in form of Market Services PMI (Purchasing Managers Index), which came in slightly better than expected but did not cause much movement. From the Eurozone we saw Retail Sales (YOY) which came in slightly worse than … Read more Busy day for the Eurozone as speculation over Q.E mounts.
GBP/EUR exchange rates climb to 1.26 and reach fresh high following Mario Draghi speech. Thursday was another difficult day for the Eurozone and the single currency as the Euro lost even more ground against the pound. Following comments from ECB (European Central Bank) President Mario Draghi GBP/EUR exchange rates rose to their highest levels since … Read more GBP/EUR exchange rates climb to 1.26 and reach fresh high following Mario Draghi speech.