Bank of Canada Raises Interest Rates – 13th July 2017

Bank of Canada Raises Interest Rates – 13th July 2017 The Bank of Canada’s Stephen Poloz seized the interest rate torch from the Fed’s Janet Yellen on Wednesday by increasing interest rates to 0.75% while Ms Yellen’s testimony to Congress made it sound as though she was not so convinced about the upward momentum of

Sterling falls as North American data leads the way – 10th July 2017

Sterling falls as North American data leads the way – 10th July 2017 It wasn’t actually that surprising was it that US President Trump distanced himself from other world leaders at the G20 summit in Hamburg over the weekend however, more surprising was that it had minimal impact on exchange rates. US and UK economic

ECB President Draghi boosts the Euro – 28th June 2017

  ECB President Draghi boosts the Euro – 28th June 2017 A speech by the ECB’s Mario Draghi was the catalyst for sending the Euro to the top of Tuesday’s leader board as it gained by one and a half US cents. Mr Draghi spoke of “a strengthening and broadening recovery in the Euro area”

Sterling stages a comeback – 26th June 2017

  Sterling stages a comeback – 26th June 2017 Sterling ended the week looking slightly more robust than when it started. The upturn was due to a combination of lower UK government borrowing and a more hawkish tone from the Bank of England chief economist on Wednesday. The CBI’s Industrial Trends Survey contributed to the

US raises interest rates – 15th June 2017

  US raises interest rates – 15th June 2017 Immediately ahead of London’s opening yesterday Sterling moved higher across the board for no obvious reason and managed to hold onto these gains until just before the ONS published the UK employment data.  On the plus side, the 7,300 increase in jobseeker numbers was less than

Time for an interest rate hike – 14th June 2017

Time for an interest rate hike – 14th June 2017 It is widely expected that the US Federal Reserve will announce a 0.25% increase in US interest rates tonight with the increase already factored into the price of the US Dollar. If the decision is “no-change” then the US Dollar would suffer. Over the last week the

Election Impact on your Currency Transfers

Cast your mind back to May 17th 2015 and the last general election, when David Cameron was elected as Prime Minister after winning a clear majority. Mr Cameron’s success came as a big surprise as the pre-election polls predicted another hung parliament. The surprise gave Sterling an immediate boost and rose on average by 3.4%

Sterling goes up and Sterling goes down again – 22nd May 2017

  Sterling goes up and Sterling goes down again – 22nd May 2017 Sterling ended last week pretty much as it opened on Thursday however, that doesn’t tell the whole story. It went up by one US cent on Thursday morning, drifted half a cent lower, plunged another cent and then recovered. All of that left

Nothing to see here – 10th May 2017

Nothing to see here – 10th May 2017 The Australian Treasurer’s budget, which he delivered yesterday, had minimal impact on the currency markets and meant that the credit ratings agencies, Fitch and Moody’s, confirmed Australia’s triple-A credit rating. Despite the possible downgrade to Australia’s credit rating, investors were pretty relaxed. The volatility index, known as “the

Sterling and the US Dollar share top spot – 9th May 2017

Sterling and the US Dollar share top spot – 9th May 2017 Sterling and the US Dollar shared top spot yesterday, strengthening by an average of 0.4% against the other dozen most actively-traded currencies. The “win” though was almost by default as there was no significant UK or US economic statistics to support either currency. That is

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