Pound Sterling News

A dovish approach by chairman of the US Federal Reserve, Ben Bernanke, has pushed the dollar lower. Overnight the greenback slid to its lowest level in nearly three weeks with the dollar index losing 0.6 per cent to hit 82.639. This saw some recovery in the euro, which ended at $1.3140. Although the dollar is down on its high of 101.53...

The yen has hit its lowest level in 33 months against the euro and the US dollar as investors expect a new governor of the Bank of Japan to be more receptive to aggressive monetary easing. On Tuesday, current governor Masaaki Shirakawa announced he would be ending his term three weeks earlier than expected on 19 March. A meeting next week...

The yen has dropped against a number of other major currencies as expectations are that Japan will pursue aggressive stimulus measures to kick start the economy if Shinzo Abe, leader of the opposition, becomes the next prime minister. The US dollar rose 0.18 per cent against the yen to end at 81.82. Earlier in the week the Bank of Japan...

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...

The Bank of England is expected to unveil plans later in the week to print billions more pounds in order to drive growth, but that hasn’t prevented investors from becoming less pessimistic regarding the currency’s prospects against the US dollar. Risk reversals reveal that options investors are still hedging their bets on the pound...

The sterling moved back to trading in positive territory today, bouncing back from five consecutive negative weeks, with sentiment at present gaining some traction. The sterling has taken a pounding during recent weeks, as the eurozone crisis was worsening because of Greek and Spanish woes, falling from highs of over 1.6300 to lows below...

The Fitch credit ratings agency has done the same as Moody’s and placed the UK’s top AAA rating on negative outlook, reports the BBC. Fitch Ratings warned that it may downgrade the UK over the next few years should the government not be able to contain the public debt level. The warning arrives as Chancellor George Osborne adds the...

The UK has been told its credit rating could be cut in the future, potentially raising borrowing costs, according to the BBC. The Moody’s ratings agency released the statement after concerns about the eurozone crisis’s possible impact on the growth prospects of the UK. It put Britain on ‘negative outlook’, which implies there is a...

The pound remained high against the US dollar on Thursday, as reported by Forex Rate It!, after a number of mainly upbeat US data while investors kept their focus on the result of fresh Greek bailout talks. The GBP hit 1.5475 against the USD during US morning trade, which was the pair’s highest rate since 11 January. The pair then...

The pound soared to a 15-month high versus the euro yesterday as concerns continued to grow over the state of the single currency and the eurozone banking sector. Investors responded to positive news on the UK economy, sending sterling above €1.21, its strongest position since September 2010 and a 10 per cent rise over 2011’s low of...