Sterling ended last week on a weaker note with profit taking after recent strong gains against the dollar but also dropping back against the euro, which at last managed to maintain a breach of the stg84p level. News overnight of a 0.6% in Rightmove house prices has had little impact. While there is nothing else on the calendar today, there are plenty of domestic factors later in the week to provide sterling direction, including Wednesday’s minutes of the July MPC meeting and the first reading of Q2 GDP growth.
Looking at …

The Euro continues its remarkable rebound against the dollar following a long-term low of $1.1876 in early June. Since that point, the Euro has bounced nearly 11 pips in about six weeks to a current rate of $1.2935.

Dollar weakness has become the main story with yesterday’s batch of US economic data again largely disappointing, doing nothing to alleviate concerns about the pace of economic recovery. A third straight month of falling producer prices and soft manufacturing data came on top of Wednesday night’s FOMC minutes which showed that the Fed’s policy committee stood ready to do more to stimulate the economy if the pace of recovery slows further.
The euro touched a fresh two-month high against the dollar on Friday as weak U.S. data weighed on the U.S. …

World stocks slipped from a three-week high on Thursday after the Federal Reserve suggested additional measures may be needed to combat a weakening economy. This in turn has weighed down on price movement with the US Dollar.
Minutes from the Fed’s June meeting showed officials were concerned with the pace of the economic recovery and felt they should be ready to consider additional steps if an already softening outlook took a noticeable turn for the worse.
Concerns about the US economic outlook are weighing on the dollar which trades near a two …

The euro held near a two-month high against the dollar on Wednesday induced by strong U.S. corporate earnings and easing concerns about euro zone sovereign debt, which also helped push equities higher. This in turn has increased Risk appetite in the financial markets and will impact movement with the risk sensitive currencies such as the Euro, GBP, AUD and NZD.
Intel Corp (INTC) reported results above expectations and gave an upbeat sales outlook, pushing S&P futures higher. Tom Trevorrow Currency Analyst at Torfx Currency brokerage noted that Euro price movement and …

Forex markets accross the board were rather mixed after yesterdays close in London, with the Pound confined to tight ranges particularly as the Euro halted its 5 day rally against its counterparts.
Sterling fell to a low against the dollar of $1.4946 in the wake of the release of the UK final Q1 GDP data, which highlighted the fragility of the UK’s economic recovery. It bounced back only to fall again in later trading after S&P announced that it was maintaining its negative outlook on the UK’s AAA credit rating. This …

Forex markets are seeing considerable movement already this morning with Sterling currently being sold off against virtually all of its counterparts. Briefly looking at last week the British Pound held a narrow range as the Bank of England refrained from releasing a policy statement following its interest rate decision for July, and the exchange rate may continue to trend sideways over the coming week as investors weigh the prospects for future policy, and interest rate expectations.
Sterling’s rally against the dollar, Euro, Australian Dollar and Canadian Dollar has run out of …