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Exchange Rate Updates

Is the smart money on Slovakia in the foreign exchange market?

Given the current state of the economy, savvy investors are looking for new locations which may represent a good prospect in relation to the foreign exchange market. Slovakia may be one such location according to a report on This is Money.

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Foreign currency exchange potential reaction to G20

Okay so we are all aware the UK is currently in recession, the question everyone wants to know is how bad and long it will be? If we are to believe the International Monetary Fund (IMF) then

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How will the latest measures affect foreign currency markets?

As expected the BoE (Bank of England) reduced interest rates by 50 basis points early February and many economists predict a further reduction of 25-50 basis points in the coming months. The base rate is now at 1%, a new record low.

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Will low interest rates affect currency markets?

Writing these reports does sometimes feel like deja vu in the sense that the Bank of England (BoE) made history again last month. This time cutting the base rate by 50bps to 1.5%, which is the lowest level since the Bank was established 315 years ago.

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Has sterling been oversold?

As expected the Bank of England (BoE) slashed interest rates again in December following a 1.5% cut in November. The Monetary Policy Committee (MPC) agreed on a further 1% cut reducing the UK base rate to 2%. Sterling suffered some big losses following the cut recording new lows against both

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Bank of England surprises currency markets?

In our commentary last month we indicated that the Bank of England may cut the base interest rate more aggressively than the 50bps forecast and indeed they did. However what we did not see coming was the announcement of a 150bps cut, and I hasten to add nor did the majority of market analysts. This pushed UK interest rates to 3%, their lowest level since 1955

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Foreign currency roller-coaster

It has been another roller-coaster month for sterling as GDP data released showed that the UK economy contracted by 0.5% in Q3 compared with the previous quarter. This is the first contraction since Q2 1992 and the biggest quarterly fall since Q4 1990.

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Pound holds up well in currency market

It is fair to say recent market events have completely overshadowed economic data releases. It all started with the failure of Lehman Brothers and the Fed having to prop up insurance giant AIG. Then HBOS, the UK’s largest mortgage lender was forced to be bought by Lloyds TSB following aggressive short selling of HBOS shares. Subsequently,

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Foreign exchange market overview

As expected, the Bank of England left interest rates on hold this week and we will have to wait two weeks to find out how they voted and whether the committee remained split on their decision. Last month seven of the nine members voted to keep rates on hold with one member voting for a cut and one for a hike. Mervyn King, Governor of the Bank of England has also spoken about the

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Foreign currency exchange market braces for UK interest rate cuts

The Bank of England has a tough task to steer the UK economy through these choppy waters. This month the Monetary Policy Committee (MPC) felt that despite high inflation, interest rates should remain at 5%. The minutes of the meeting show this was not a straight forward decision…

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