The Pound took a fall against the Dollar today after a barrage of poor data put the British economy very much on the back foot for staging a recovery. To kick things off Sterling hit $1.4936, a one week low for our currency. To add further downward pressure ratings agency Fitch aired their deteriorating views
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The Greenback edges higher this morning as the main driving force in GBP/USD and EUR/USD is the poor economic news flowing out of the Euro Zone and the negative sentiment surrounding the state of British finances. With little news coming out of the US of great economic significance or surprise much of the Dollar
Pound:
Sterling is continuing to trade in a calmer tone after making some small gains late on Friday. The UK is not short of interesting news articles this morning starting with the Telegraph reporting that UK shoppers “could face VAT on food” of between 3 and 5% in a bid to raise billions of pounds in
Pound:
Sterling has failed to recover significantly from major losses in the last week as the Bank of England holds interest rates and QE at their current levels.
In more downbeat news for the UK, the Independent reported that fears are growing of a double dip in the UK housing market after Halifax announced a 1.5%
There were a number of key meetings and announcements today that looked to give some indication on the financial state of Britain and the Euro Zone.
Kicking things off at 12:PM, the BoE announced its interest rate decision and there were no surprises as the rate was held at 0.50%. Following on from that, more
US Dollar:
The Dollar was down against the Euro yesterday as upbeat news from the Euro Zone saw investors move away from the Greenback and into the Euro on an increased appetite for risk. However, this morning sees the Dollar marginally up against both the Euro and Sterling.
The euro dropped to $1.3665 as of 6:30 a.m.
US Dollar:
Much of the gains seen by the Dollar versus both the Pound and the Euro have been reversed. Against the Pound, the Dollar is down 0.22% in morning trading as many investors and traders have concluded that the sharp losses incurred by Sterling at the beginning of the week had gone far enough. The
US Dollar:
The Dollar is up against both the Euro and Sterling in light trading this morning. The strength of the dollar continues after a very poor performance from the Pound on Friday. After falling over 1% in trading, the pound continues its fall against the Dollar, currently down 0.49% as of 08:42 GMT. Whilst U.K
US Dollar:
The Greenback rose for the ninth straight day against the Pound yesterday after weak economic news from the U.K saw the dollar strengthen by 1.4cents in heavy trading. Yesterday’s low of $1.5261 was the lowest level since May 2009. Much of the Dollar movements have been driven by news surrounding the Pound and the
US Dollar:
This week so far has seen the dollar trading blows with the Euro and Sterling as a constant flow of news changes the sentiment regarding the Euro, Dollar and Sterling. Yesterday saw the Dollar soften as comments by Federal Reserve Chairman Ben Bernanke outlined that interest rates will remain low for the time being