Comments on: Sterling trading back above 1.11 against the Euro http://www.currencynewstoday.co.uk/2009/11/sterling-trading-back-above-1-11-against-the-euro/ Currency news today Thu, 10 Nov 2011 12:23:41 +0100 http://wordpress.org/?v=2.9.2 hourly 1 By: Toby http://www.currencynewstoday.co.uk/2009/11/sterling-trading-back-above-1-11-against-the-euro/comment-page-1/#comment-133 Toby Wed, 13 Jan 2010 14:38:26 +0000 http://www.currencytoday.co.uk/currencynews/?p=166#comment-133 News has been more supportive for sterling today especially the hawkish comments by MPC member Andrew Sentance with regard to further quantitative easing measures being putting on hold next month. We have also had stronger retail sales and better trade deficit figures in recent days in addition to stronger industrial production data highlighting the likelihood that we have now moved out of a recession. We are due more news at 3pm today from the NIESR which will provide an estimate on last quarter growth figures before the official figure which if positive could support sterling further. There is however underlying weakness in the pound when you look at the political situation and who and how issues with our government finances will be resolved. This also explains the reason for the pound being “range bound” and seeing little movement. We are limited on large economic data releases this week, so you may find sterling move off slightly from the current 1.1150-1.12 level back into the 1.11 area. Next month’s interest rate announcement along with the quarterly inflation report should provide further direction for sterling either way. Please feel free to contact me by email or phone and remember the above information is my opinion only. News has been more supportive for sterling today especially the hawkish comments by MPC member Andrew Sentance with regard to further quantitative easing measures being putting on hold next month. We have also had stronger retail sales and better trade deficit figures in recent days in addition to stronger industrial production data highlighting the likelihood that we have now moved out of a recession. We are due more news at 3pm today from the NIESR which will provide an estimate on last quarter growth figures before the official figure which if positive could support sterling further. There is however underlying weakness in the pound when you look at the political situation and who and how issues with our government finances will be resolved. This also explains the reason for the pound being “range bound” and seeing little movement. We are limited on large economic data releases this week, so you may find sterling move off slightly from the current 1.1150-1.12 level back into the 1.11 area. Next month’s interest rate announcement along with the quarterly inflation report should provide further direction for sterling either way. Please feel free to contact me by email or phone and remember the above information is my opinion only.

]]> By: Micha http://www.currencynewstoday.co.uk/2009/11/sterling-trading-back-above-1-11-against-the-euro/comment-page-1/#comment-131 Micha Wed, 13 Jan 2010 13:58:00 +0000 http://www.currencytoday.co.uk/currencynews/?p=166#comment-131 Hi Toby, need to change € into £ in the next few days ... any prognosis?? Hi Toby,

need to change € into £ in the next few days … any prognosis??

]]> By: Toby http://www.currencynewstoday.co.uk/2009/11/sterling-trading-back-above-1-11-against-the-euro/comment-page-1/#comment-11 Toby Thu, 26 Nov 2009 10:25:46 +0000 http://www.currencytoday.co.uk/currencynews/?p=166#comment-11 I have tried calling you today. Unfortunately due to the volatile and unpredictable nature of the currency markets I am unable to provide you with a firm answer on whether you should trade pounds into Euros now or next Monday. What I can tell you is sterling has experienced significant pressure since this morning's open in the market largely down to concerns over the stability of our banks and in particular the UK. News of Dubai's economic problems and ability to repay debt to bank's has seen big falls in banking stocks (shares) which normally has an immediate effect on the value of sterling. This morning has seen a knee jerk reaction to this economic news reflected in sterling so you may find a slight recovery in the market and value of the pound depending on how severe financial news surrounding Dubai becomes. Please be aware these comments are my opinion only and should not be construed as financial advice. I have tried calling you today. Unfortunately due to the volatile and unpredictable nature of the currency markets I am unable to provide you with a firm answer on whether you should trade pounds into Euros now or next Monday. What I can tell you is sterling has experienced significant pressure since this morning’s open in the market largely down to concerns over the stability of our banks and in particular the UK. News of Dubai’s economic problems and ability to repay debt to bank’s has seen big falls in banking stocks (shares) which normally has an immediate effect on the value of sterling.

This morning has seen a knee jerk reaction to this economic news reflected in sterling so you may find a slight recovery in the market and value of the pound depending on how severe financial news surrounding Dubai becomes. Please be aware these comments are my opinion only and should not be construed as financial advice.

]]> By: mrs p rogers http://www.currencynewstoday.co.uk/2009/11/sterling-trading-back-above-1-11-against-the-euro/comment-page-1/#comment-10 mrs p rogers Thu, 26 Nov 2009 09:23:29 +0000 http://www.currencytoday.co.uk/currencynews/?p=166#comment-10 hi Toby, I need to change pounds to euros in the next few days. The rate is falling every hour it seems at the moment. Shall I change now or wait until next week? hi Toby,
I need to change pounds to euros in the next few days.
The rate is falling every hour it seems at the moment.
Shall I change now or wait until next week?

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