Foreign Currency News Updates

POUND
Sterling has reversed loses seen early today as risk sentiment has been boasted by China’s move to cut banks’ reserve ratios and investors look to cut exposure to the Euro zone. A credible plan from the government to tackle the budget deficit as highlighted in yesterday’s autumn statement is likely to help the UK retain

POUND
Sterling is continuing to rally against the USD this morning aided by the Euro’s performance against the US currency but in reality remains within a seven week low despite these gains. The market’s focus is now on the budget statement due to be delivered by George Osborne at 12.30pm. Osborne is expected to deliver lower

POUND
Sterling is trading down by a quarter of a percent this morning against the Euro whilst making significant gains vs. a weaker USD. The pound has made significant gains against the USD as investors restore confidence in riskier currencies including the pound and Euro. Sterling does however remain near a six week low and may

POUND
Sterling continues yesterday’s mini rally against the Euro this morning up 0.4% on the day whilst trading relatively flat against the USD. The second release of the last quarter’s GDP figure provided some support for the pound yesterday with the number as forecasted at 0.5%, but much like with the Euro, risk aversion dominated proceedings

POUND
Sterling saw a mixed performance in the currency markets yesterday as investors keen on avoiding risk piled their funds in to the USD, resulting into sterling being pushed lower against the US currency. The MPC minutes which saw all members vote in favour of no change helped sterling briefly as many expected one of the

POUND
Sterling has started the day trading lower against the USD and level vs. the Euro as risk aversion continues. UK government spending figures out yesterday did little to support the pound overall as the country’s debt as a percentage of GDP came out at 62.3%, a record for the month of October. Public sector borrowing

POUND
Sterling is continuing the struggle against the Euro today and is flat against the USD after activity in the US has seen a sharp pullback in appetite for risk globally, as sovereign debt concerns persist in Europe and the US. Public sector net borrowing data out this morning came out lower than the 4.1B expected

POUND
Sterling has started the day trading lower against the US Dollar and slightly down vs. the Euro. Data out this morning, demonstrated UK shopper numbers between August and October fell at the fastest rate since last December’s heavy snow, as cash strapped Britons tightened their pockets. There is no further UK data due at all

POUND
The pound is managing to remain within tight ranges against the Euro and up 0.6% vs. the US Dollar well into 1.58. As I mentioned yesterday sterling has been given some support from a rise in retail sales last month despite consumer confidence data blatantly highlighting most of the population tightening their pockets. This data

POUND
Sterling is trading steadier this morning after stronger than expected retail sales numbers which came out at 0.6% against –0.2% expected. Rewinding back to yesterday’s Bank of England inflation report it came as no massive surprise to anyone that the general tone of Mervyn King was downbeat in terms of economic growth forecasts for 2012.