Foreign Exchange

Fri 13 Dec 2019 07:15GMT

0% Commission. Free Transfers. Fast. Secure.

If you need to send money abroad, save time and money by using a foreign exchange broker. Make the smart choice, and use a currency broker today.

I need to transfer...

February 2011 FX News Archive

Archived Daily FX News from the TorFX Foreign Exchange Specialists...

Euro Rate Hike, Could Happen this Week?

28 Feb at 10 AM - NEWS LINK: Euro Rate Hike, Could Happen this Week?
Euro Rate Hike, Could Happen this Week?
Good Morning. Following on from last week, the pound has started this trading session with a difficult few hours that have weighed on sterling’s resolve to buckle under the mounting pressures that we have been experiencing, as other central banks enter the rate increase race. Sterling’s mood was dampened by Friday’s news of a...

UK GDP set for release

25 Feb at 9 AM - NEWS LINK: UK GDP set for release
UK GDP set for release
The pound fell heavily yesterday across the board as a spike in oil prices drove investors into ‘safer’ currencies and sparked concerns about the impact on an already fragile UK economy. Indeed sterling hit a three week low versus the euro and it may struggle to see any further gains in the short term as the potential interest hike...

Sterling Up as Euro and Dollar Fail to Impress

18 Feb at 12 PM - NEWS LINK: Sterling Up as Euro and Dollar Fail to Impress
Sterling Up as Euro and Dollar Fail to Impress
The pound has started its day well after yesterday’s comments from MPC member Andrew Sentance talked up sterling when he made reference that supported a rate hike, which would assist sterling as inflation needs to be offset. There was robust economic data also, with British Factory orders improving more than expected in February and...

Inflation data to boost Sterling?

15 Feb at 8 AM - NEWS LINK: Inflation data to boost Sterling?
Inflation data to boost Sterling?
Good Morning. The pound remained largely unchanged through yesterday’s trading session but we may see that change today with the markets anticipating change. The CPI data is set for release at 09.30 and interest rates or moreover the pressure to raise will no doubt be making policy makers at the Bank of England scratch their heads....

Euro Falls as Bond Auction looms

14 Feb at 9 AM - NEWS LINK: Euro Falls as Bond Auction looms
Euro Falls as Bond Auction looms
Good Morning. The euro has been in focus over the weekend, as the single currency fell to a three-week low versus the dollar on Monday as investors turned cautious ahead of peripheral bond auctions in Spain and Italy this week. The euro fee to $1.3472 against the dollar and tested €1.19 versus sterling, down 0.5% since the close on...

No Change to BoE rates - Sterling Rallies

11 Feb at 9 AM - NEWS LINK: No Change to BoE rates - Sterling Rallies
No Change to BoE rates - Sterling Rallies
Yesterday saw the Bank of England keep interest rates on hold at 0.5%. Although no-change had been widely expected, markets had priced in a 20% chance of a rate rise. Sterling dipped slightly after the announcement after traders cut their positions. Despite the shock contraction in the UK at the end of last year, expectations of a...

Rate Increase Less Likely say Analysts

10 Feb at 9 AM - NEWS LINK: Rate Increase Less Likely say Analysts
Rate Increase Less Likely say Analysts
Good Morning. We start the day looking ahead to the Bank of England Policy Meeting, with the market players now warning of downside as expectations of a rate hike throughout 2011 may have been overestimated. We did see a slight increase for sterling but gains were limited as the cloud of today’s noon announcement looms ever nearer....

Retail Sales boosts Sterling

8 Feb at 10 AM - NEWS LINK: Retail Sales boosts Sterling
Retail Sales boosts Sterling
Sterling was steady against the dollar overnight with expectations of a UK rate hike may be needed soon to counter inflationary pressures offset by selling from Asian accounts. Better than expected UK purchasing manager surveys in January helped to counter negative sentiment surrounding a surprise contraction in growth in the last quarter...

GBP up as Focus Falls on BOE

7 Feb at 10 AM - NEWS LINK: GBP up as Focus Falls on BOE
GBP up as Focus Falls on BOE
Speculation as to when rather than if the Bank of England will raise interest rates gathered pace, and the support of investors during the early trading session this morning after a report in the Sunday Times fuelled the rumour mill. Sterling rose against both the US Dollar and Euro, hitting a 3 week high on the latter after it was...

Euro weak as Trichet stalls in interest rates

4 Feb at 10 AM - NEWS LINK: Euro weak as Trichet stalls in interest rates
Euro weak as Trichet stalls in interest rates
The pound is looking to round off the week in a much better position than many market analysts thought following from the contraction in the UK economy by 0.5% according to last week's worrying GDP data. Activity in Britain's dominant services sector expanded at its fastest pace in eight months in January as business recovered after...

GBP up on services data

3 Feb at 11 AM - NEWS LINK: GBP up on services data
GBP up on services data
Good Morning. We have started today with positive news from the UK as services PMI came in above expectations. This has bolstered the case for higher interest rates in the UK and has pushed the pound towards a strong resistance area of $1.6282. Activity in Britain’s dominant services sector expanded at its fastest pace in eight...

Interest rate rumors gather pace

2 Feb at 9 AM - NEWS LINK: Interest rate rumors gather pace
Interest rate rumors gather pace
Sterling rallied heavily against both the dollar and euro yesterday as expectations that the Bank of England will now start to raise interest rates by mid-2011 and the general uptick in risk appetite kept the dollar under pressure. Implied interest rate futures based on overnight index swaps were pricing in nearly a 70% chance of a 25...