In Brief GBPEUR: In recent days sterling has benefited from the issues in Ireland. However in the last 24 hours sterling / euro exchange rates have stabilised. GBPUSD: US economic data this week has not been particularly strong. However, given the eurozone bond crisis the dollar has regained its status as a safer currency in …
Given the ongoing Irish crisis, sterling is being seen as a safer option and is holding up well against the euro on the foreign exchange markets.
In recent days the uncertainty regarding whether the Irish will accept an EU Bailout for their troubled economy has resembled a pantomime. EU officials seems confident that ‘Oh yes they will!’ – Irish measures to bolster their finances including a several billion Euro austerity budget will prove insufficient, and before 2012 the Irish will need outside assistance. Today though Ireland’s Justice Minister Dermot Ahern has said ‘Oh no we won’t!’ –
As expected the Bank of England (BoE) left interest rates unchanged at 0.5% with no additional quantitative easing (QE) at this month’s Monetary Policy Committee (MPC) meeting. Many analysts thought that further QE may have been announced, however
I think the best headline recently would have to go to Lloyds Group for “Ship ahoy. QE2!” relating to the possibility of another round of quantitative easing (QE) in the UK, after the Bank of England
Sterling remained in a slim trading range against most major currencies for much of August although a raft of weak economic data in the UK lead to the pound losing value more recently. Sterling fell
If there is such a thing as an exciting piece of economic data then I would have to say the first estimate of Q2 GDP coming in at 1.1% (the biggest leap since Q1 2006 and 0.5% higher than expectations) certainly caused a stir. So much so
The new coalition government’s budget was the primary focus in June and aggressive measures outlined by George Osborne to cut and reduce the huge national debt were welcomed by the financial markets pushing the pound higher against most currencies.
May was certainly a roller-coaster of a month for the value of sterling. On some days we witnessed exchange rate swings in excess of 2%. To put this into context on a normal day one would expect to have 0.5 to 0.8% movement on a major currency pair like GBPEUR.
Clearly, Thursday’s general election is the key factor affecting exchange rates this week and sterling has maintained a steady stance against most major currencies