October 2012 UK Forex and Foreign Exchange News Archive

The euro has strengthened following a successful sale of Italian five- and 10 year bonds that saw the country’s borrowing costs significantly reduced and data from Spain that shows that in the third-quarter the country’s economy contracted at a slower rate than expected. Having risen against the dollar after an announcement by the Bank...

Concerns over the health of the global economy and a decision by Moody’s to downgrade the credit rating in five regions across Spain has seen the euro and the yen drop against the US dollar. The current fears about global growth have been fuelled by reports of poor earnings from companies in the US. Spain’s borrowing costs rose after...

An announcement by credit ratings agency Moody’s that it does not intend to reduce Spain’s rating from investment grade helped the euro hit a four-week high against the dollar. Many analysts feared that the recession hit country might be downgraded to junk. Over the past few weeks the euro has found support from expectations that Spain...

The euro has rebounded slightly against the US dollar although fears concerning Greece and Spain continue to heap pressure on the single currency. In recent trading the euro strengthened from a low of 1.2905 to 1.2950. Pessimism about the health of the global economy is also keeping the euro down. The International Monetary Fund has issued...

An announcement by Prime Minister Mariano Rajoy of Spain that the country is not expecting to make an imminent call for aid from Europe has dented the euro slightly. However, things could have been worse for the single currency if the Australian dollar hadn’t fallen against most other currencies after an announcement by the Reserve Bank of...

The euro recovered from sinking to a three-week low against the dollar on Monday as manufacturing data from the euro bloc was better than anticipated, but continued doubts about Spain’s bailout kept gains limited. The manufacturing sector in France deteriorated dramatically last month, while Germany’s Purchasing Managers’ Index went...