Written by: Alastair Archbold FX Manager T: 01442 892 066 The Pound staged a modest recovery during yesterday’s trading session, rising from €1.13 to €1.1390. The catalyst for the move higher was the release of the latest UK inflation figure, rising to almost 3% in the biggest jump in 4 years. Usually higher inflation would … Read more Sterling stages a recovery, but will it last?
Pound falls away from highs against euro Last Friday we saw sterling break through the €1.34 mark, hitting heights of around €1.3450 before dropping back a cent over the next few hours. The pound bounced back up several times throughout the day before tailing off ever so slightly. Heading into the weekend it found its feet in … Read more Pound falls away from highs against euro
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
Yesterday’s announcement from the Bank of England (BoE) did little to strengthen the pound against the Swiss franc, as they once again voted to keep interest rates unchanged – this time with all nine members in favour of maintaining the status quo. Martin Weale and Ian McCafferty had previously opposed keeping rates low, however concerns about … Read more Bank of England keeps interest rates low and ECB introduce QE
Pound strengthens from low inflation figures The pound surprised everyone yesterday after the UK posted its lowest December inflation figure since the year 2000, when it rose significantly against its major counterparts. You’d think that after such poor inflation numbers we would see the pound weaken. In fact, we saw a rise of around a cent against … Read more Pound strengthens from low inflation figures
Market Report 6th June 2014 The markets built in anticipation yesterday as the financial world waited to hear what would come out of the ECB’s monthly meeting and decision on interest rates. Many expected that interest rate cuts would come into play and talk of negative deposit rates being introduced did enough to build this … Read more ECB Forces Lending to Keep the Eurozone Running