Foreign Currency News Updates

Short selling has come under fire during this financial crisis for causing the collapse or at least price plummet for major corporations. First it was the shorting of banking shares that caused untold trouble during the height of the crisis. At one point short-selling was actually banned both here and in the U.S. More recently

Pound:
The pound rallied significantly against the Euro yesterday (well over 1%) smashing through the 1.12 area towards 1.1250, in addition to making significant gains against the USD, reaching a high of 1.5126 by yesterday afternoon. The UK economy grew by 0.4% in the last three months of 2009 above the 0.3% forecasts and in separate

Pound:
Sterling has made a small number of gains this morning ahead of the final GDP figure for UK growth, last quarter. The pound is trading up 0.45% against the Euro and over half a percent against a generally weaker USD.
All three puppets, sorry finance ministers were having a “TV debate” last night, all agreeing to

Pound:
Sterling has seen a pick up in early morning trading, up 0.76% against the USD and 0.11% against the Euro. A recent article published in the telegraph over the weekend revealed that 64% of people polled by the institute of directors said they thought last week’s budget would have a negative impact on reducing the

The real damage in this credit crisis can be seen in the relative time it takes for an index to fall on the back of poor news in relation to the time it takes for investors to regain confidence. Case in point can be seen at the height of the crunch when the FTSE lost

Euro:
It has arrived. It would appear that we have a solution for the Greek problems. European leaders meeting in Brussels endorsed a Franco-German proposal to assist Greece through a mix of International Monetary Fund and bilateral loans. No surprises that this news has seen the Euro jump half a percent on Sterling and 0.7% on

Pound:
Sterling lost small gains against the Euro as the day progressed yesterday in addition to losing over 1 percent against a strong USD. Today in the aftermath of the budget the pound has picked up again, trading over 1.12 against the Euro and 1.4950 vs. the USD ahead of UK retail sales. Retail sales are

Euro:
Unfortunately on today’s agenda it seems the priority is setting new lows. The Euro fell to a 10-month low against the dollar as well as hitting an all time new low against the Swiss Franc. The euro fell as low as 1.4233 francs, before trading at 1.4250 as of 6:30 a.m. As uncertainty reigns over

Pound:
There was little data yesterday to move Sterling in any purposeful direction this morning, although after its recent decline there were signs that traders were taking advantage, allowing the Pound to correct itself slightly against the other majors in early trading. Pressure was still on the Pound however as a result of Germany’s reluctance to

Pound:
The pound remains under a pressure (no surprise there) staying within the 1.10 level seen late on Friday and moving down lower against the US Dollar into 1.49. The latest worry in the market revolves around the possibility of a double dip recession in the UK highlighted by Andrew Sentence last Thursday who helped stimulate