Foreign Currency News Updates

POUND
Sterling remains lower against the Euro at the start of the week but has managed to make nearly a half percent gain against the USD. The lower than forecast revised GDP number for the UK has created speculation that the BoE might raise interest rates later than expected in order to prevent damaging an already

POUND
Sterling fell across the board yesterday after a spike in oil prices encouraged investors to place funds into safer currencies at the same time as concerns increased surrounding the impact of rate hikes on the UK economic recovery. The pound has benefitted this year from an increase in the likelihood of interest rate rises supported

POUND
Sterling has been exposed to profit taking yesterday as a reduction in risk appetite has resulted in a sell off over the last 24 hours. Chances of an interest rate rise occurring in the coming months increased yesterday after the bank of England minutes highlighted an additional member in favour of an increase. The pound

POUND
The pound is rallying strongly this morning after the release of the Bank of England minutes that highlighted a further member voted for an interest rate increase in the last meeting, one more from the month before. This news immediately provides further support surrounding speculation that interest rates will start rising in the UK within

POUND
Sterling is trading a little lower this morning against the major currencies, struggling to make further gains on the support it has recently had from interest rate expectations. The main focus this week is clearly the Bank of England minutes from the meeting and subsequent interest rate announcement made earlier this month. There is some

POUND NEWS
Sterling is continuing to trade higher this morning against the USD whilst moving down slightly against the Euro. Many in the market expect the Bank of England inflation report (out shortly) to be of a hawkish tone and supportive of a rise in interest rates whilst inflation remains dangerously high. “Sterling is positioned for

POUND NEWS
Sterling has lost over 40 points against the Euro since the CPI data release with much of the gains made before 9.30am in anticipation of an even higher number than the actual figure of 4% in January. The market will now be focusing on the BoE quarterly inflation report due to be delivered at

POUND NEWS
Sterling is trading 0.64% up against the Euro this morning in addition to making some small gains vs. the USD. There is no UK data due today in what is generally a quiet day for economic indicators until the monthly inflation (CPI) report out tomorrow morning at 9.30am. This number is expected to be

POUND NEWS
Sterling regained losses yesterday against the Euro after the bank of England decided to keep interest rates at 0.5% as expected. “The money markets were pricing in a 20 percent chance of a hike, but no one really expected the BoE to go,” said Chris Turner, head of FX strategy at ING.
Data out

POUND NEWS
Sterling began to fall yesterday afternoon against the USD and Euro after the UK placed an extra £800 million tax on banks, in a strategy aimed to curb bonuses and free up business lending. The pound remains resilient today on the back of interest rate expectations despite the thought that markets have overestimated these