UK election strengthens pound

UK election strengthens pound As all signs pointed towards a hung parliament leading up to last week’s general election, the public and media were shocked when exit polls pointed to an overall Conservative majority. The markets reacted accordingly with the pound strengthening against a number of its counterparts, and rose to a three week high … Read more UK election strengthens pound

The effects of the General Election on your currency purchase

The effects of the General Election Well election fever certainly took a grip last week with the currency markets extremely volatile throughout. GBP/EUR rates posted a high of 1.3831 on the morning of the election with a low of 1.3367 being hit just 24 hours before, a difference of nearly 3.5%. GBP/USD rates were equally … Read more The effects of the General Election on your currency purchase

GBP/AUD Hovers in Low 1.90’s

GBP/AUD Falls Despite RBA Rate Cut It’s been a fairly interesting week on the currency markets, with the sterling/aussie cross dropping from 1.95 to 1.91 over the last 7 days. Surprisingly, the Australian currency has gained ground against most of its major counterparts, despite the Reserve Bank of Australia cutting the benchmark interest rate to … Read more GBP/AUD Hovers in Low 1.90’s

UK goes to the polls and Swiss franc trumps counterparts

UK goes to the polls and Swiss franc trumps counterparts Here in the UK polls opened at 7 o clock this morning for the 2015 UK General Election, in which reporters are calling the closest election for over a century. Various polling agencies have pointed to a hung parliament after stations close tonight. Therefore, following … Read more UK goes to the polls and Swiss franc trumps counterparts

GBP/EUR tests 1.40

Yesterday was a fairly quiet day for GBP/EUR due to a lack of any significant data releases, as mentioned in yesterday’s report. As a result we saw sterling trade within half a cent against the single currency. The only significant release from the US came in the form of services PMI, which came in worse … Read more GBP/EUR tests 1.40

Sterling loses ground to the Euro

Due to a lack of any data releases from both the UK and Eurozone yesterday any significant movements in rates would depend on the US figures being released in the afternoon and this was the case when the US posted worse than expected figures for both building permits and unemployment claims. The poor data resulted … Read more Sterling loses ground to the Euro

GBP/AUD Drops Into 1.90’s

GBP/AUD Falls as Sterling Weakens The pound has tumbled over the last week or so as uncertainty over the general election, coupled with fears over falling inflation, have left Britain’s currency on the back foot. Economists at the Bank of England have also left the door open for a potential interest rate cut by the … Read more GBP/AUD Drops Into 1.90’s

Uncertainty moving the markets

Tuesday 17th March 2015 Uncertainty moving the markets It was a fairly slow day on the currency markets yesterday with GBP/EUR and GBP/USD rates both moving within a range of around one cent. It was a quiet day on the data release front with no major releases of note, so a stagnant day was seemingly … Read more Uncertainty moving the markets

Sterling reaches highest level against the Euro since November 2007

Thursday 12th March 2015 Sterling reaches highest level against the Euro since November 2007 Yesterday started off exactly where Monday had ended with the Euro losing more ground against the Pound. The mid-market opened at 1.4050 after starting the week at 1.3870 and even woeful UK manufacturing figures at 09:30 (-0.5% actual against 0.2% forecast) … Read more Sterling reaches highest level against the Euro since November 2007

GBP/EUR struggles to break through 1.38

Thursday 5th March 2015 GBP/EUR struggles to break through 1.38 Yesterday saw GBP/EUR rates test the 1.38 level for the 5th time in only a week. However, as with its earlier efforts the pound struggled to break through the 1.38 mark and more importantly failed to maintain the ground it made. The pound also lost … Read more GBP/EUR struggles to break through 1.38