Posted on Thursday, June 21st, 2012 at 12:55 pm.
The Euro has been under pressure from the mounting issues in the Eurozone which has been great for Euro buyers. The bailout for Spain impressed investors for little more than a couple of hours last Monday. They saw it as another Euroland sticking plaster in place of the major surgery that is really necessary. By the [...] Read More...
Posted on Friday, June 15th, 2012 at 3:53 pm.
Sterling has fallen by about half a cent against the euro since last Friday morning. It covered a range of just over two cents, bottoming out on Monday morning and peaking on Wednesday afternoon. The pound took a downward lurch this Friday morning after speeches the previous evening by the Bank of England governor and [...] Read More...
Posted on Friday, June 1st, 2012 at 9:45 am.
Having covered a range of just under two cents the pound started this Friday morning about half a cent lower on the week against the euro. Along the way it was unable to match the previous week’s high and it has been under gentle downward pressure since Wednesday lunchtime. The more things change in Euroland [...] Read More...
Posted on Monday, May 14th, 2012 at 4:05 pm.
In the last week, market sentiment has been squarely aligned with an assumption that an anti-austerity government in Greece would lead inevitably to the cessation of bailout payments, a consequent sovereign default and either secession or expulsion from the single currency. Today last ditch talks led by President Karolos Papoulias looked unlikely to make headway [...] Read More...
Posted on Wednesday, May 9th, 2012 at 2:34 pm.
The pound has reached a three and a half year high against the euro topping GBP/EUR 1.24 as financial markets reacted to the election results in France and Greece. Francois Hollande was appointed France’s first Socialist president for 17 years and there is a new threat to a eurozone break-up posed by the post-election in [...] Read More...
Posted on Thursday, May 3rd, 2012 at 2:28 pm.
After the collapse of Northern Rock five years ago investors found it difficult to love the pound. The global financial crisis, the nationalisation of two other British banks, the recession and the protracted UK property downturn continued to discourage investors during most of the last five years. In recent months there have been signs that [...] Read More...
Posted on Wednesday, April 25th, 2012 at 4:25 pm.
Britain’s economy slipped back into recession after data this morning showed output contracted by 0.2 percent in the first three months of this year, a technical recession is defined as two or more consecutive quarters of economic decline. This is the first double dip since the mid 1970s. Sterling was falling in advance of the [...] Read More...
Posted on Wednesday, April 18th, 2012 at 8:21 am.
The Pound has continued to perform well against most of the major currencies. This week will provide proof of the UK’s climb out of economic strife or show evidence that further attention is required to an ailing recovery. The Pound has moved above €1.21 and appears comfortable at these levels. For anyone needing to buy [...] Read More...
Posted on Tuesday, April 10th, 2012 at 2:56 pm.
Sterling hit a 2and half month high against the euro on Thursday, with worries about the eurozone debt crisis and rising Spanish borrowing costs outweighed a drop in UK factory output. Bank of England policy makers voted to keep interest rates on hold at 0.5% and the quantitative easing total unchanged at £325 billion. The [...] Read More...
Posted on Wednesday, April 4th, 2012 at 1:25 pm.
This story will by now have become a familiar one to regular readers: The sterling/euro exchange rate is spending most of its time in a narrow corridor between €1.19 and €1.21. It first took up residence there in mid-December and investors have come to the conclusion that it is perfectly suited to its environment. That [...] Read More...