Posts Tagged ‘Asset Purchase’

Pound Climbs on House Prices, Optimism

Posted by yehya on January 18th, 2010


The U.K. currency profited today from an increase in the nation’s house prices, fueling even further speculations that the recession might be ending in Britain, attracting investors to purchase

pound-priced assets in a day of bullish equities markets in London.

In a day of predominant risk appetite as commodities and equities advanced in the U.K., the pound profited from an optimistic scenario in the country as Rightmove Plc, a leading British real estate website, indicated that house prices increased last month, adding evidences for speculations that Bank of England’s current asset purchase program may expire next month and not be extended further, which would certainly allow the pound to climb in foreign-exchange markets.

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Pound May Climb On Asset Purchase Program Ending

Posted by yehya on January 18th, 2010

The U.K. currency may be experience a shift on its sentiment as speculations suggest that the current quantitative easing measures used by the nation’s central bank will be terminated, as the country starts to publish positive economic reports, suggesting that the recession may be ending in the British Isles.

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Unchanged Rates and Bond Purchases Maintain Pound Down

Posted by yehya on January 8th, 2010

The British currency continued to suffer from its central bank monetary policies as interest rates remained unchanged in the country, suggesting that the recession will remain a reality in England for an extended period.

A concerning budget deficit combined with weak economic data has been affecting the pound’s outlook as the Bank of England insists on its asset-purchase program which hasn’t been effective so far, as well as in all-time record low interest rates which decrease the appeal for the sterling in foreign-exchange markets.

GBP/USD bottomed at 1.5923 as of 22:21 GMT from a previous rate of 1.6036.

If you want to comment on the Great Britain pound’s recent action or have any questions regarding this currency, please, feel free to reply below.

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Pound edged up slightly against the euro on Friday but is down around 0.7% in trading this morning

Posted by Forex News Resource on November 2nd, 2009

The pound edged higher, achieving its biggest weekly advance against the euro since January, as signs pointed to the UK economic recovery talking hold.

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Falling global equities enabled the pound to post gains against the euro

Posted by Forex News Resource on October 29th, 2009

The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.

  • Preliminary CPI data from Germany revealed that consumer prices remained flat on the year in October. Monthly data showed that the index did rise by 0.1% in October from September, though this rise failed to garner support for the euro.
  • The markets also saw a slight withdrawal of risk activity yesterday as weak housing data in the US renewed concern over the health of the global recovery.
  • The data dragged European equities down to three-week lows, which appeared to impact more severely on the single-currency, enabling the pound to gain.
  • This morning, the pound is consolidating its position above 1.1100, with analysts reiterating that sterling is likely to remain in a holding pattern until next week’s BoE asset purchase decision.
  • Investors are cautious amid uncertainty over whether the Central Bank will extend their quantitative easing programme, and so sterling movements may continue to be dictated by risk appetite in over the coming days.
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UK economy contracted by 0.4%, which has and will continue to weigh heavily on sterling

Posted by Forex News Resource on October 26th, 2009

In an uncertain day for the UK economy, the pound lost as much as 2.0% to the euro on Friday, sharply reversing its recent rally to close down at 1.0862.

  • Data revealed that the UK economy unexpectedly contracted by 0.4% between July and September this year, confirming that the UK is still in recession.

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UK GDP contracts by 0.4% – pound dives

Posted by Forex News Resource on October 23rd, 2009

Data this morning has run significantly against market expectations, confirming that Britain is still in a recession. The UK’s third quarter GDP figure was revealed to be a 0.4% contraction, which now means that the UK has suffered 6 consecutive quarters of negative growth.

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Pound continued to climb against the aussie yesterday as confidence in the UK economy improved

Posted by Forex News Resource on October 22nd, 2009

A broadly stronger pound hit a two-week high against the aussie, briefly rising over 1.8000, as confidence in the UK economy gained momentum.

  • Sterling jumped following the minutes from the Bank of England’s latest policy meeting, which dampened expectations of an extension to quantitative easing.

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The pound posted a one cent gain against the euro yesterday, buoyed by the MPC minutes

Posted by Forex News Resource on October 22nd, 2009

Sterling reached a one-month high against the single currency, rallying strongly as the BoE’s latest policy meeting made no mention of further QE.

  • The MPC minutes gave substantial support to the pound, which advanced 1.1% to reach a high of 1.1112, after they sounded a more positive tone than recent statements from policymakers suggested.

Click to continue reading “The pound posted a one cent gain against the euro yesterday, buoyed by the MPC minutes”

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Pound reached over $1.64 yesterday, but has slipped half a cent in trading this morning

Posted by Forex News Resource on October 20th, 2009

Having traded in the red during the morning session, the pound rebounded back over $1.64, climbing for the fifth consecutive day and reaching a near one-month high of $1.6422.

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Profit taking ahead of the weekend allowed the pound to make further ground against the aussie on Friday

Posted by Forex News Resource on October 19th, 2009

Sterling maintained its rally as investors continued to lock in profits ahead of the weekend, with the price closing the day at 1.7839.

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Sterling continued to rally at the end of last week, but has relinquished gains in trading this morning

Posted by Forex News Resource on October 19th, 2009

Sterling’s rally against the euro persisted on Friday, albeit with slightly less momentum, with the price closing the week at 1.0971, up 0.8% on the day.

  • Sterling’s volatile run continued with a modest climb at the end of last week, as investors squeezed what more they could out of a rally that is expected to fade.

Click to continue reading “Sterling continued to rally at the end of last week, but has relinquished gains in trading this morning”

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Broad dollar weakness and an increase in demand for sterling has pushed the price back near $1.63

Posted by Forex News Resource on October 16th, 2009

Sterling achieved a three-week high of 1.6297 against the dollar yesterday, supported by upbeat comments about the UK economy.

  • The pound jumped nearly three cents, or 1.8%, against the dollar on speculation that policy makers will pause their asset-purchase programme next month as the economy shows signs of recovering from the recession.

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Sterling has rallied strongly against the euro, pushing up over 1.09

Posted by Forex News Resource on October 16th, 2009

Sterling strengthened as much as 2.2% to a ten-day high of 1.0936 against the euro yesterday, its biggest intra-day gain since Jan 30th.

  • Sterling was able to post strong gains following bullish comments from a Bank of England policymaker who stated that quantitative easing is in fact working.

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The kiwi dollar continues to climb as expectations of a rate rise strenghten

Posted by Forex News Resource on October 14th, 2009

Once again sterling edged downward against the kiwi yesterday, though it picked itself up significantly from an intra-day low below 2.13, to close at 2.1534.

  • The pound dropped in early trading after a business group said the Bank of England should expand its asset-purchase programme and the inflation rate slowed more than forecast.

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