August 2014 News Archive

The Pound New Zealand Dollar (GBP/NZD) exchange rate eased today, leaving the pairing fluctuating around NZ$1.850. Sterling fell against the New Zealand Dollar following the announcement of the Bank of England’s interest rate decision today, which held at 0.75%. However, Mark Carney, the Governor of the BoE, was downbeat in his...

While both the Australian Dollar and Euro have seen stronger demand this week amid lighter trade jitters and a weaker US Dollar (USD), the Australian Dollar to Euro (AUD/EUR) exchange rate has ultimately continued its advance. If Australian data due in the coming sessions continues to impress, the pair could rise even higher. It may...

US Dollar Update: USD ZAR Rate Rises while Trump Pledges ‘Wall will be Built’ The US Dollar has advanced to an exchange rate of 13.2338 against the South African Rand today, although domestic data has only provided limited support. On this front, US PMIs for August have shown higher overall activity for the composite reading, which...

Pound to Rand Trading Accelerates after More Brexit ‘Position Papers’ Come Out The Pound has risen by 0.5% against the South African Rand today, although this is primarily because of Rand weakness. The only UK news to speak of has been political, focusing on the UK government’s plans for the country after Brexit. Recent...

Despite a solid UK job market report coming in today, the British Pound to US Dollar exchange rate has been unable to sustain any notable recovery effort. This has largely been due to this week’s strong US retail sales stats, which came in well above expectations. After mixed movement in recent weeks, the US Dollar surged yesterday and...

US Dollar to Rand Rate Rises despite Heightened Tension about Nuclear War In spite of the handicap of alarming political news, the US Dollar has still risen against the South African Rand today. The main news today has been that tensions between the US and North Korea have seemingly hit an all-time high. Responding to news that North...

Despite persistent US political uncertainty in recent weeks, the British Pound to US Dollar exchange rate has fallen due to Bank of England (BoE) news and a strong US Non-Farm Payroll report. UK news and US data has caused GBP/USD volatility over the last week. The pair opened the week at the level of 1.3133 and briefly hit a 2017-high of...

After strong performance earlier in the week due to US political and economic concerns, the British Pound to US Dollar exchange rate shed most of its gains on Thursday. The day’s Bank of England (BoE) news left Sterling much weaker. The pair started this week at the level of 1.3132 and hit a 2017 high of 1.3256 on Thursday morning....

GBP on the Rise after Article 50 Scare, UK GDP and BoE Speech Out This Week While no actual UK domestic data came out on Monday, the Pound was still able to make and sustain a strong rally against the US Dollar, the Euro and a majority of its other exchange rate peers. This came as part of a delayed reaction to investors over Friday’s...

The US Dollar continued to slump against the Yen on Monday after a Friday plummet, as investors sold off the ‘Greenback’ in favour of the Yen. Nikkei stocks drifted lower after a disappointing Japanese GDP result on Monday, which also weighed slightly on the otherwise bullish Yen. USD/JPY trended in the region of 101.00 at the time of...

<h2>EUR USD Exchange Rate Firmed on Reduced US Dollar Demand</h2> Three key data sets are forecast to determine price action for the world’s leading currency pair during today’s session. By the latter part of yesterday’s European equities session, the Euro to US Dollar exchange rate was lodged in the upper part of the...

Latest Blow to Pound’s Appeal comes on Post-‘Brexit’ Housing Prices The current week has been one of the worst in a long time for the Pound, as in addition to being repeatedly dragged down by poor economic data, overall sentiment has prevented any real gains over the five working days. Against the South African Rand, the Pound has...

UK Currency Weathers Outcome of Second PMI Printing This Week The Pound has been an unusually safe bet for investors of late, having rallied strongly against the majority of its regular peers on what should have been a damaging piece of domestic data. This was the July finalised construction PMI, which had been forecast to fall further...

USD Confidence Remains Middling despite Advantage against GBP The US Dollar has seen a rapid rise against the Pound Sterling this week as in the aftermath of Monday’s stock market mayhem, but the ‘Buck’ has only risen overall against ‘stable’ competitors like the Euro and the Pound. The US Dollar’s losses against the Pound...

Rising ‘Greenback’ Fails to Dent Rupee’s Stability in INR-USD, RBI’s Rajan Talks Cause and Effect The Indian Rupee to US Dollar conversion rate has come out surprisingly well from the continuation of ‘Black Monday’ that hit the world’s stock markets for a third day running, although the road to a strong Rupee has seen a...

‘Greenback’ Posts Mixed Losses and Gains today but yesterday’s King is among the Latter The US Dollar was hit hard yesterday by the global stock market crash, dubbed ‘Black Monday’ by reporters. Stock and share markets across the world fell into the red (or green, in Asian nations) as fears that had built up over the weekend were...

Hawkish Pound Dominates the Field amid UK Interest Rate Hike Speculation Frenzy The Pound Sterling has demonstrated extremely hawkish behaviour today against all major rivals, but most of all against the Krone. Sterling peaked at 12.9863 today, although the gains seen by the Pound are likely to continue as the UK currency continues to...

The Euro to Thai Baht (EUR/THB) exchange rate advanced by around 0.4% on Monday afternoon. With gradually easing concerns regarding Greece’s inability to repay the European Central Bank (ECB) a significant amount on August 20th, the single currency strengthened versus many of its currency rivals. Although many Euro-area nations have yet...

The Pound Sterling to Hong Kong Dollar (GBP/HKD) exchange rate was trending within a tight range on Friday morning. British economic data failed to impress on Friday which saw the Pound edge lower versus many of its peers. On the year, June’s Construction Output came in at 2.6%; missing the median market forecast 3.3%. On a monthly...

The Pound Sterling to Turkish Lira (GBP/TRY) exchange rate rallied by around 1.5% on Thursday afternoon. The British asset dived versus its currency rivals during Wednesday’s European session after domestic labour market data produced mostly negative results. Of particular disappointment was the second consecutive month of rising...

The Euro to Chinese Yuan (EUR/CNY) exchange rate rallied considerably during Wednesday’s European session. After Greek officials agreed to the terms of the third bailout deal with creditors and Eurozone officials, the single currency surged versus its major peers. Although the terms are yet to be agreed by Greek MPs, fears regarding the...

The Euro to Thai Baht (EUR/THB) exchange rate is currently trending in the region of 38.3671. European economic data produced mostly positive results during Thursday’s European session, causing the common currency to edge higher versus many of its currency rivals. Easing fears regarding Greece’s stock market also saw heightened demand...

The Pound Sterling to Philippine Peso (GBP/PHP) exchange rate edged higher during Wednesday’s European session. This is despite lower-than-expected British services output. The UK Markit Services PMI was forecast to edge lower from 58.5 to 58.0 in July, but the actual result fell to 57.4. Also weighing on demand for the Pound was the...

The pound enjoyed a steadier day in yesterday’s foreign exchange market rising to a level against the Euro not seen since 6 August. The Confederation of British Industry (CBI) in its latest quarterly Distributive Trades Survey reported that a combination of hot summer weather and the economic upturn seems to have enticed shoppers onto...

The pound fell again as trading re-started after Monday’s Bank Holiday in the UK and traded at a 6 month low against the US Dollar and a 9 month low against the Australian Dollar. Uncertainty over the UK political outlook seems to be weighing heavily on the Pound after Alex Salmond, the leader of the ‘Yes’ campaign for Scottish...

The Pound made a recovery of sorts in yesterday’s foreign exchange markets after the sharp falls suffered on Tuesday after the publication of the minutes of the last Bank of England (BoE) Monetary Policy Committee (MPC) meeting from the beginning of the month sprung a surprise. The minutes showed that the nine member MPC voted 7-2 in favour...

The Pound Sterling traded at a new 4 month low against the US Dollar yesterday in the currency markets after the release of the latest UK inflation data. The Office for National Statistics (ONS) reported that the UK's rate of inflation fell in July at a faster than expected pace thus reducing any pressure on the Bank of England (BoE) to...

The Pound ended the month of July on a disappointing note in yesterday’s foreign exchange market. Having touched earlier in the month a 22 month high against the Euro and a 6 year high against the US Dollar, it fell against both currencies and indeed, against the majority of the 16 most actively traded currencies in the market. Even...

The pound made a recovery of sorts after three solid days of falls against the euro on the back of a report from the British Chambers of Commerce (BCC) that sharply upped its 2013 growth forecast for the UK economy, saying the economy is gaining momentum. The BCC now expects the UK economy to grow by 1.3% this year, up from its previous...

Yesterday, the pound gave up some of its recent gains despite better than expected data from the Confederation of British Industry’s [CBI] who reported in its distributive trades survey the strongest balance since November 2012. The rise reflects the strongest growth rate in retail sales reported since November 2012, across a broad-based...

Risk aversion has returned to dominate the markets with a vengeance with all three ‘safe-haven’ currencies, the US dollar, Japanese yen and the Swiss franc rising strongly yesterday and world stock markets going in the opposite direction as fears that the US and its allies are poised to take military action against the Syrian government...

The pound closed last week buoyed by the latest data release from the Office for National Statistics (ONS) which reported that UK gross domestic product (GDP) for the second quarter of this year has been revised upwards to 0.7%, up 0.1% from the initial estimate released in July and 1.4% higher than this time last year. The ONS said the...

In complete contrast to the wishes of the Bank of England who want to keep a lid on the value of the pound in order to stimulate exports and aid the economic recovery in the UK, the recent better than expected data out of the UK continues to bolster the pound which is now trading at either multi-month high’s (against the euro and the US...

The pound enjoyed another good day in the foreign exchange market yesterday despite some mixed economic data. The Office for National Statistics (ONS) reported that public sector net borrowing, excluding the temporary effects of financial interventions and also excluding the effects of the transfers from the Bank of England Asset Purchase...

The US dollar is feeling the pressure ahead of tonight’s policy announcement from the Federal Reserve, falling to a 2 month low against the pound and a six month low against the euro yesterday. The minutes from the Fed's July meeting will hopefully shed some light on when the Federal Reserve plans to start winding up its monthly...

The pound opened at a 7 week high against the euro and a 8 week high against the US dollar after receiving a boost from better than expected UK retail sales figures and a positive report from the Confederation of British Industry. Figures from the British Retail Consortium (BRC) showed that retail footfall in July was boosted by the sunny...

This week has been one of more ups than downs for Sterling. With the UK’s economic outlook brightened by several pieces of stronger-than-anticipated news the Pound is set to record a second consecutive 5-day gain against major rivals the US Dollar and Euro. This week UK employment, housing and retail sales reports all trumped...

With yesterday’s better-than forecast UK employment figures continuing to support the Pound, the British currency was able to begin European trading stronger against rivals including the US Dollar and Euro. The Pound’s advance against the ‘Greenback’ was aided by the expectation that UK retail sales climbed for a third month. ...

Over the last four weeks the Pound has strengthened by 0.9 per cent as the currency has been boosted by increasingly positive UK data and a brightening economic outlook for Britain. The British currency was able to extend gains against several of its rivals in the wake of yesterday’s domestic inflation and housing reports, and was...

As the European session began the Pound was trading within touching distance of a month-high against the Euro and in the region of 1.5479 against the US Dollar. Overnight the British currency was supported by a report showing that UK house prices climbed to an almost seven-year high last month. According to data compiled by the Royal...

Last week’s significantly stronger-than-anticipated UK services PMI, coupled with the Bank of England raising the UK’s growth forecast, saw the Pound put in a commendable performance against peers including the US Dollar and Euro. The British currency was able to post a five-day gain against its most traded counterparts and began...

Prior to the release of UK construction output and trade balance figures the Pound was holding steady against the Euro and US Dollar after advancing on its rivals yesterday amid improving global economic sentiment and positive UK data. As the European session began Sterling was trading close to a seven-week high against the US Dollar and...

Yesterday’s Bank of England inflation report, and unprecedented forward guidance regarding interest rate alterations, inspired notable Sterling fluctuations. Interest rate hikes were linked to the unemployment rate for the first time, with Carney asserting that rates wouldn’t be increased until the jobless rate had at least fallen to 7...

Although the Pound strengthened against both the Euro and US Dollar during the European session as UK industrial production surged and house prices climbed, the British currency went on to post modest losses against the Euro as the common currency garnered support from better-than-expected German factory orders data. As local trade began...

After UK services PMI was shown to have unexpectedly surged in July, hitting its highest level for over six years, Britain’s economic outlook was boosted and the Pound broadly strengthened. Sterling climbed to 1.5375 against the US Dollar yesterday, extending an earlier gain, and hit a high of 1.1623 against the Euro. In response to...

Towards the close of last week the Pound gathered support from the Bank of England’s decision to maintain its current level of asset purchases as well as surprisingly strong UK manufacturing/construction PMI. As the European session began this morning the British currency was holding steady against the US Dollar and Euro. However,...

The pound received an unexpected boost yesterday after the Bank of England's Monetary Policy Committee (MPC) decided to hold off from an announcement on the much vaunted ‘forward guidance’ policy expected to be announced yesterday. As expected, the MPC left UK interest rates unchanged at 0.5%, a level that has been in place since March...

Ahead of today’s monthly policy announcements from both the Bank of England (BoE) and European Central Bank (ECB), the pound fell to trade at a 4 month low against the euro. The BoE are expected to implement the policy of ‘forward guidance’ championed by new governor Mark Carney who used the policy to great success during his tenure...

As investors become less confident that Federal Reserve chair Ben Bernanke will announced to new scheme of quantitative easing in the US at the Jackson Hole meeting today, the euro slipped down 0.1 per cent to $1.2509. Modestly upbeat reports from the US have led some experts to suggest that QE3 will not be announced today. A report on...

The euro saw a rise again yesterday for the first time since Thursday’s seven-week high of $1.2589 as speculation circulates about what will be announced at Friday’s central bankers’ meeting in Jackson Hole. Experts believe that Fed chairman Ben Bernanke will announce a third period of quantitative easing in the US, which will bring...

With a lack of major economic developments due to come out of Asia this week, all eyes are set to remain on the euro. Having just had its best week in six months, hitting a seven-week high of $1.2590 last Thursday and 1.5 per cent up on the week, the euro was steady at $1.2514 with resistance at around $1.2597 this morning, up from Friday’s...

The euro hit a high of seven weeks yesterday on the back of rumours that Spain is talking to Eurozone leaders about the possibility of a bailout package. The common currency hit a high of $1.2589 on Thursday, the fourth consecutive day that a slight increase has been seen by investors. According to experts, Spain is keen to discuss the...

After missing an interest payment of $23 million (£14.6 million) due on Monday, it is feared that Belize will default on its debt. There is still a 30-day grace period in which Belize has to pay the interest, but it is likely they will not be able to pay it. Creditors are accusing Belize of trying to force the restructuring of the $550...

EUR/GBP saw a drop of 0.09 per cent today to finish at 0.7851 after briefly hitting a high of 0.7872 on the back of positive rumours from Europe. A spokesperson for Germany’s finance minister suggested that the ECB was unlikely to target bond spreads, while a German magazine said it could set the interest rate for purchases of Eurozone...

The euro hit a six-month high versus the yen today following comments from Germany Chancellor Angela Merkel which hinted that the European Central Bank will launch action to curb the debt crisis in the euro zone. The dollar also shot up to a five-week peak against the struggling yen, driven by the recent spike in US Treasury yields on the...

The dollar sat close to one-month peaks versus the yen in Wednesday’s early Asian trade after positive retail sales figures cooled suggestions of further Federal Reserve stimulus. The growth in retail sales, which largely broadened across the board, enhanced the opinion that the slowdown in the country’s economic growth in the second...

The euro gained ground on the dollar on Tuesday on the back of data revealing that economic sentiment in Germany had lowered and that the economy in the euro zone had shrunk. Eurostat revealed that the region’s gross domestic product had shrunk by 0.2 per cent in the second quarter, bringing the rate of contraction seen in the last 12...

The euro suffered a third straight day of falling after enjoying monthly highs earlier in the week as investors’ optimism faded over the European Central Bank’s plans to tackle the region’s debt crisis. The common currency went down by 0.3 per cent to $1.2270 declining further from Monday’s one-month peak of $1.2444. It looks set...

The euro lost ground on the dollar on Wednesday, hampered by weak economic data from Germany and profit-taking on the back of three consecutive days of gains; however, losses could be short-lived as optimism remains that the European Central Bank may launch measures to reduce Italian and Spanish borrowing costs. The single currency’s...

The euro climbed against the dollar after putting in a strong performance in New York trading on Monday and recording its second successive daily rise. The single currency soared to a one-month high against the greenback in earlier trading, while the rise marks its strongest two-day gain on the dollar for over nine months. Trading was said...

The euro regained some ground on Friday as some market players became more optimistic about the about the European Central Bank’s decision on sovereign bond buying which could help combat the debt crisis in the euro zone. Many investors had hedged their bets against the single currency on Thursday after the central bank dealt the bloc a...

The G3 currencies were forecast to mark time on Wednesday in Asian trading, on the back of another listless offshore session with the Federal Reserve’s decision on policy looming, a day before a European Central Bank meeting. However, China’s official manufacturing PMI, scheduled for later in the day, could spice up local trading, with...