The Pound Has A Spring In its Step
This week’s quote is from Lord Northcliffe “News is what somebody somewhere wants to suppress; all the rest is advertising.” What Is In The News? The UK economy continues to defy the ‘doom-mongers’. The Bank of England (BoE) reported that 43,536 mortgages were approved in February, up from 39,647 in January. It’s also well above […]
Watch Out For Budget Day
An interesting start to the month just got more interesting despite all the ‘doom and gloom’ from the main-stream media as the Pound gained over 1% in value against the Euro and over 1.5% against the US Dollar in the last 3 days. Against the Aussie Dollar, the Pound has hit its highest level since […]
The Pound Is At A February High
The Pound Sterling News The first half of February saw the Pound drop to a 4-month low against the Euro on the 5th February, a 4-week low against the US Dollar on the 7th February and its lowest level against the Aussie Dollar on the 2nd February since last September before recovering to register a February high against […]
The Value Of The Pound Against Its Main Competitors
It’s been a nervy start to 2023 for the Pound Sterling. In the first fortnight of the year, the Pound rose by 1.3% against the Euro. In the first 9 days of the year before falling right back to where it started. Against the US Dollar, the Pound has fared better. In the first 5 […]
2022 – What A Year!
I have worked through some momentous changes since starting out in the City of London in 1985 including Chernobyl; the fall of the Berlin Wall; Mandela’s release from prison; the Gulf War; German reunification; the collapse of the Soviet Union; the dot.com crash; 9/11; 7/7; the collapse of Lehman Brothers and subsequent credit crunch; the […]
Oh My! Where Are Interest Rates Going?
As we approach mid-month, we ask ourselves ‘where are interest rates going?’ The Pound is up over 4.5% since the September low when on the 26th it hit its lowest level since January 2021 but is level pegging from this time last year against the Euro. Against the US Dollar, the Pound is still over […]
The Pound Is Doing Well…
All Things Considered; the Pound is doing rather well. The Pound enters the last week of November at: – It’s All About Perspective Given where we are economically in the UK with the Bank of England warning the UK is facing its longest recession on record at two years which could nearly knock 3% off […]
The Currency Markets Do Provide An Immediate International Perspective
The volatility in the currency markets continues amid inflation and recession concerns with the Pound starting the month at a 2-month high against the Euro, then dropping over 3% in the first 9 days of November but has since recovered one-third of the loss. Against the Dollar, the Pound had a much better first half […]
The Pound Is Rising!
The 20-day moving average of JPMorgan’s Global FX Volatility Index hit its highest level this month since January 2012. When you consider some of the events that have happened over the last decade including: the eurozone debt crisis; the Brexit vote and aftermath; Trump’s election victory in 2016 and loss in 2020; the Covid pandemic […]
Currency Market Chaos
The last week of September must rank up there in terms of sheer currency market chaos and volatility since I started working in the financial markets in 1985. As the ever negative British main-stream media never tire of telling us… The Pound opened last week at some historic lows against its main currency market competitors: […]