FX News

US Dollar stronger on easing Middle East tensions

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Middle East tensions ease and market reacts Mixed data keep Australian Dollar stable US employment report awaited Sharp drop in Canadian building permits Other than the Sussex’s sulky retreat into wealthy solitude, the theme…

Sterling strongest currency performance so far

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Pound pick of the currencies this week Global growth downgraded The Japanese Yen and Swiss Franc, currencies traditionally counted on by the markets as “safe havens”, retreated as tensions between the US and Iran began to ease.…

2020: A New Decade Dawns

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UK economic improvement in early January data releases Eurozone manufacturing better but Euro not out of the woods Could the Euro pick up the pieces on employment data? Disappointing data from China dents Australian Dollar The…

Currency markets remarkably calm after Iran missile attacks

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Australian house building in surprise jump Drop in German factory orders stalls Euro US Dollar movement likely today The foreign exchange market is surprisingly calm in spite of Iran’s missile attacks on US troops. The price of…

US Dollar tumbles on latest Middle East tensions

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Dollar weakens as Iran and Iraq tensions ease UK data beats forecasts and GBP strengthens A reappraisal went on yesterday. Traders and investors were assessing whether the US v Iran rhetoric would progress into all-out war and determined…

Sterling holds on to post-election bounce

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10 sleeps to go before the big day and three sleeps since that other big day. It was interesting to see that the pre-Christmas and post-election boost in Sterling held up well over the weekend, as the returned Prime Minister went on a charm offensive across the northern areas of the UK that elected a Tory MP for the first time in decades or for the first time ever.

Sterling up on historic Conservatives win

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Well that was a very exciting night wasn't it?! All the winners and losers, runners and riders, tears of joy and wobbly bottom lips. The Pound jumped by 2% when the exit poll was released at 10pm last night and maintained those gains into the early hours

Sterling steady as polls open

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The big day has arrived for the UK. Please vote. Nuff said. The markets are still supporting the Pound, assuming no doubt that the polls will be proven reasonably accurate and a Conservative majority will prevail. This mornings Survation poll gives the Tories a 10.5 percentage point lead but that doesn't necessarily equate to a similar seat count at the end of the voting process. Whilst Sterling has maintained its place against the likes of the Euro, the Australasian and Canadian Dollars and the yen etc., it has strengthened against the USD; testing $1.32 at the time of writing.

Last day before UK vote

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Probably unsurprisingly, the UK economy failed to grow in the third quarter of the year. Annualised growth slowed to 0.7%. Quelle Surprise; with the obvious distraction and disruption of the Brexit story, who has the confidence to invest, employ, spend or anything very much? In fact, the trade deficit growth that was also reported yesterday is another indicator of the general UK and global malaise.

Sterling stable approaching election, beware Bank of England

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Sterling was stable yesterday in spite of attempts to ambush the Prime Minister with an unchallenged photo of a child on a hospital floor. The Tory lead in the election polls is still there and the markets are still supporting Sterling due to that. We get economic growth data or Q3 this morning. 1.2% annualised growth is the most likely outcome but any surprises could impact the Pound and we are also going to see, what is forecast to be, an improvement in UK industrial production. However, the Bank of England's financial stability report could unsettle things, so be careful out there!