Archived Daily FX News from the TorFX Foreign Exchange Specialists...
GBP improves but for how long
28 Oct at 11 AM - NEWS LINK: GBP improves but for how long
The week has started to take a little more shape, with sterling recovering well for a miserable start thanks mostly to the surprise UK GDP data on Tuesday.
Overnight however, Sterling fell against the euro and failed to make gains on a broadly weaker dollar as investors took the view that a rally in the pound was overdone and focus moved...
Pound Falls Before GDP Announced
26 Oct at 9 AM - NEWS LINK: Pound Falls Before GDP Announced
The week has started could also be stated as ‘the weak has started’ as sterling falls against the euro to a near 7 month low.
Weighed down by the possibility that the Bank of England may loosen monetary policy and that GDP data today could well point towards a stuttering recovery.
The pound rose against a broadly weaker dollar as...
Pound Suffers a Week of Weakness
22 Oct at 9 AM - NEWS LINK: Pound Suffers a Week of Weakness
Sterling looks to end the week with a little more optimism for the future, but with sack-full’s of economic data weighing on the UK’s chances of growing from recession I have little in the way of confidence for the hopes of the ailing pound.
GBP – EUR hit a near 7 month low on Thursday after weak UK retail sales data increased...
Sterling Hit from Every Direction as BoE Weigh In
21 Oct at 10 AM - NEWS LINK: Sterling Hit from Every Direction as BoE Weigh In
The currency markets have been shaken from the outcome of not only the spending review that was announced yesterday but also the Bank of England’s three way split over policy regarding Quantitative Easing.
Seven members voted for no change to interest rates and no additional stimulus spending, while one person wanted to see rates rise....
UK set for Austerity Measures Announcement
20 Oct at 9 AM - NEWS LINK: UK set for Austerity Measures Announcement
Good Morning. Wednesday 20th October 2010 has long been on a pedestal for market watchers as we brace ourselves for the start of the biggest cuts in public spending that the UK has seen since World War Two.
Sterling starts the day under pressure following yesterday’s CBI data and with both the spending review and Bank of England minutes...
UK Awaits Wednesday as US Dollar Rebounds
18 Oct at 10 AM - NEWS LINK: UK Awaits Wednesday as US Dollar Rebounds
Focus for this week falls firmly on Wednesday as the coalition plans to cut average spending in government departments by a quarter as it tackles a record budget deficit in the UK.
The comprehensive spending review will unveil that the coalition plans to cut departmental budgets by £83 billion and achieve the rest of the tightening...
US Dollar Declines to New Lows
14 Oct at 9 AM - NEWS LINK: US Dollar Declines to New Lows
US Dollar dominates the markets this morning as we see the supposed ‘most important currency in the world’ drop to its lowest level against a basket of currencies as expectations of U.S. increasing their easing measures kept investors piling on bets against the greenback.
The Australian dollar was one of the greatest beneficiaries as...
Sterling Suffers Following Further QE Speculation
12 Oct at 12 PM - NEWS LINK: Sterling Suffers Following Further QE Speculation
The pound has started this morning with the words of Bank of England policy maker David Miles ringing in it’s ears after he has stated that the central bank may yet come to use further quantitative easing.
Sterling hit a one week low as Miles said that QE remained a “potentially powerful tool”, although he continued stating that he...