GBP EUR Rates Tumble On Inflation
GBP EUR exchange rates tumbled this morning as UK inflation figures were lower than expected and lessening the probability of an early rate hike by the Bank of England. The Pound has lost against most majors as a result but presented great opportunities for selling currencies against a sterling purchase.
Sterling Exchange Rates To Change On Inflation Tomorrow
Sterling exchange rates are likely to alter significantly tomorrow morning at 9.30 dependant on how high inflation is running in the UK- if inflation is rampant then some of the Doves may be forced to grow talons and be pressed closer to a rate hike over the summer- a move that could be positive for the Pound. The pound did fight back a little from the early morning lows but made only slight headway against the Euro, but did a lot better against the...
GBP Rates Fall Against the Euro
Sterling exchange rates followed yesterday's gains with a disappointing day today losing ground against the Euro by nearly 1 cent even after UK PPI data came out better than expected, a result which would normally give the pound a boost. Sterling's losses appear to be caused by investors backing Europe to raise interest rates at a faster pace than the UK, I also believe the Portuguese bailout leaving the UK potentially out of pocket to the tune of €3bn will have detrimental affects on...
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GBP/EUR Holds Steady
GBP/EUR exchange rates have remained relatively steady throughout the day with the pound slightly gaining against the Euro to the tune of 0.3%. As expected the Bank of England kept its base rate on hold at 0.5% and the European Central Bank followed 45 minutes later by raising rates, as many expected, by 0.25% to 1.25%. Following the release we saw an initial surge in the Euros favour however Jean Claude Trichet's subsequent comments have paired back the Euros gains.
The next data set of...
Euro Rate Drops After Portugal And Interest Rate Decision
The Euro has lost a little ground against the Dollar and the Pound from yesterday following portugal leeting us in on the worst kept secret and finally requesting the need for financial assistance from the EU.
Trichet didnt dissapoint markets and announced a 0.25 point interest rate rise for the Eurozone but didnt give strong commitments to a series of rate rises which some were looking for to ensure further gains for the Euro.
Sterling Exchange Rates Continue Losses
Following yesterday's positive gains we have seen the pound lose ground against the Euro further this afternoon. I do feel, however, that GBP/EUR rates hinge on tomorrows key interest rate decisions from the UK and Europe. Personally I believe the UK will keep rates on hold and this will have little impact, however of interest will be that of the ECB. Many analysts expect Europe to raise rates by 0.25% and I firmly believe this has been priced into the market (hence Euros recent...
Euro Rate Dependant On GDP Today
Current Euro exchange rates will be dependant on GDP figures released today expected to come in at 0.3%. However if these figures are revised down it may discourage the ECB from raising interest rates in the short term which may mean Thursday's decision to hike becomes a lot less certain.
As posted yesterday, EUR USD rates did break the year high after the Fed Minutes suggested interest rates in the US will remain low for some time, allowing GBP USD rates to climb, and with rates...
Euro Dollar Rate Close To Year High
The Euro remains close to breaking the year high recently seen despite poor Euro zone retail sales figures today- The FOMC Minutes release in the next two hours could prove very interesting in terms of future monetary policy for the Dollar and determine whether the Euro will break new ground in the short term...If you are selling Euros or buying Dollars keep a close eye on the next 3 days!
The Pound is up close to 1% against the Euro at market close, although Manufacturing...
Sterling Exchange Rates Rally
GBP exchange rates have rallied today in a trend very much against the the recent trading conditions the market has been experiencing. Much of the movement can be attributed to the much better than expected PMI (Purchasing Managers Index) figures released at 09:30 this morning. PMI data came in at the best in over a year and indicated towards solid first quarter GDP growth giving impetus to an earlier interest rate hike in the UK than many had expected.
This led to the pound gaining over 1...
