Foreign Currency News Updates

POUND
The Pound hit a two week high on the U.S Dollar this morning following negative data releases in the U.S that showed unemployment claims were up and GDP was down, both worse than forecast. Some analysts think the Pound has more room for gains, even in the face of poor economic data in the U.K

POUND
Sterling was holding its own against the Euro this morning after pressure mounted on the single currency with renewed concerns over Greece’s debt and the fallout to other Euro zone nations. “As a European alternative the pound looks good value right now,” said Kathleen Brooks, Research Director at FOREX.com. “This is likely to support the

POUND
The Pound was up again on the Euro this morning ahead of a GDP report forecast to show Britain’s economy has grown in the first quarter of 2011. The U.K government plans to tighten up the budget more than any time since World War II in an attempt to reduce the deficit by April 2015.

POUND
The Pound’s advance on the Euro following fears over the Euro zone debt crisis yesterday was stopped in its tracks this morning after Moody’s Investors Service said it may lower the credit ratings of 14 British banks and building societies. “Sterling will be fragile as investors take a closer look at what Moody`s is saying

POUND
The Pound was up against the Euro this morning after Greece’s credit rating downgrade on Friday by agency Fitch led to fresh fears over Euro zone debt. Together with a slide in commodity and oil prices, the news gave the Pound the advantage over the single currency as risk aversion returned and many traders looked

POUND
The Pound fell back from its previous gains against its main counterparts this morning after positive retail sales data released yesterday morning ran out of steam and the prospect of a fragile economy preventing the BofE from raising rates in the near future led to Sterling sell offs. Retail sales were recorded up by 1.1%,

POUND
Sterling was down this morning against the Euro and Dollar after BofE meeting minutes showed a 6-3 vote against a rate rise as expected but interestingly also saw two of the biggest advocates of a rate rise, Martin Weale, and Spencer Dale speak somewhat more dovishly than in recent meetings. Dale and Weale regarded the

POUND
The Pound weakened against the Euro this morning and showed little change against the Dollar ahead of Bank of England meeting minutes released at 09:30GMT that are expected to be downbeat and show little promise of a rate rise in the near future. “The minutes will probably have a dovish tone to them,” said Jane

POUND
The Pound was up against the Euro this morning ahead of a meeting by E.U finance ministers and the International Monetary Fund was clouded by the arrest of I.M.F managing director Dominique Strauss-Kahn on sexual assault charges. Speculation over his resignation fuelled fresh uncertainty over Europe’s debt concerns and whether they would be dealt with

POUND
The Pound was under pressure again this morning against 14 out of 16 of its most traded counterparts as weak industrial production data released yesterday supported the view that a weak U.K economic recovery would prevent the BofE from raising interest rates in the near future. Sterling had been boosted earlier this week as revised