Monthly Archives: May 2011

31.05.11

Sterling reverses gains on euro and dollar

The pound fell versus the euro and dollar this monring, reversing gains posted last week. Speculation improv­ing confidence and house prices don’t seem to be enough to shore up a recovery and convince the Bank of England to raise borrowing costs as sterling declined … Continue reading

27.05.11

Greenback declines against majors on US growth fears

The greenback fell against most major currencies overnight as we saw the dollar weaken for a second day against the pound, euro and the yen on reports US growth is slowing. The Dollar Index slumped to its lowest in a … Continue reading

26.05.11

Sterling makes gain on euro- IMF may not pay Greek aid

The pound erased a decline against the euro after Luxembourg Prime Minister Jean-Claude Juncker said the International Monetary Fund may not release its portion of aid for Greece next month. The pound traded 1 cent high this afternoon as it … Continue reading

26.05.11

Bullish comments on interest rates in Eurozone see’s the euro rise

Comments by an ECB Governing Council member saw the euro make gains against the pound and dollar this morning. The European Central Bank is ready to hike rates further if needed to assure price stability in the Eurozone over the … Continue reading

26.05.11

Risk appetite see’s the pound make gains

Sterling continued its rise against the dollar as risk appetite increased in global markets. The Asian trading session saw equities rally and commodities rise, leading to a weakening of the US currency.  UK export numbers were favourable yesterday which gave … Continue reading

25.05.11

Sterling rallies as risk aversion declines

Sterling has rallied against both the dollar and euro this morning as risk aversion eased and equity markets bounced back from session lows. Cable returned to $1.62 and broke through  resistance line from May 2 high, currently at $1.6220. Against the … Continue reading

24.05.11

Sterling takes hit as Moody’s threatens to downgrade 14 UK banks

Yesterday’s gains against an under fire single currency came to a halt in early the morning UK trading session after ratings agency Moody’s threatened to cut the ratings of 14 British lenders including RBS and Lloyds, on concerns regulators including … Continue reading

23.05.11

Sterling hits two month high on euro

The pound reached the strongest against the euro in almost two months to hit 1.1540 after growing concern on Europe’s sovereign debt crises and remarks by Bank of England Chief Economist Spencer Dale saying policy makers should increase interest rates … Continue reading

23.05.11

Italy Confident despite S + P downgrade to negative

Italy on Sunday sought to allay fears it could join its fellow southern Europeans Greece and Portugal in the financial mire, questioning Standard & Poor’s downgrade of its forecast to negative. S + P downgraded its rating outlook for Italy from “stable” … Continue reading

20.05.11

Euro comes under pressure on Bundesbank comments

The euro weakened against sterling, the dollar and the yen as the German Bundesbank said Europe’s largest economy will probably lose some growth momentum. Europe’s common currency weakened by just under a cent against the pound to test the 1.14 … Continue reading