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Posts tagged: ‘pound

Pound Mixed After Thursday’s Data

By , January 29, 2015 6:50 am

Stack of coins on 10-pound and 20-pound billsThe Great Britain pound was mixed after today’s economic data from the United Kingdom. The currency was stable against the US dollar, fell versus the euro and rose versus the Japanese yen.

The Nationwide House Price Index rose 0.3 percent in January, in line with expectations. The Confederation of British Industry released its Distributive Trades Survey, showing a balance of realized sales at +39 percent, above predictions. All in all, data was rather neutral, giving no edge to the sterling.

GBP/USD traded close to its opening level of 1.5136 as of 13:15 GMT today. GBP/JPY rose from 177.92 to 178.41 while EUR/GBP advanced from 0.7453 to 0.7478.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Pound Drops After GDP Disappoints, Resilient vs. Dollar

By , January 27, 2015 8:35 am

Focus on 5-pound noteThe Great Britain pound fell against some of its major counterparts today as economic growth of the United Kingdom disappointed market participants. Surprisingly enough, the sterling was able to gain on the US dollar.

The Office for National Statistics reported that UK gross domestic product rose 0.5 percent in the fourth quarter of 2014 from the previous three months. The growth was below the market expectations of 0.6 percent and previous quarter’s expansion by 0.7 percent. Despite the negative data, the pound was resilient enough to hold its ground versus the dollar, which was not particularly strong.

GBP/USD advanced from 1.5075 to 1.5185 as of 14:35 GMT today. Meanwhile, GBP/JPY slid from 178.54 to 178.33.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Pound Drops as BoE Minutes Show Unanimous Vote

By , January 21, 2015 8:21 am

Mix of pound billsThe Great Britain pound sank today after the Bank of England released minutes of its latest policy meeting, revealing that voting for stable interest rates was unanimous.

The BoE minutes demonstrated that all of the Monetary Policy Committee members were voting in favor of keeping monetary policy unchanged. It was considered to be bad news, as previously two of the MPC members were voting for raising interest rates. With those members joining doves now, prospects for a rate hike diminished, and this is very unfavorable to the sterling.

GBP/USD dipped from 1.5142 to 1.5117 as of 14:48 GMT today. EUR/GBP jumped from 0.7621 to 0.7710 (1 percent).

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Inflation Figures Send Pound Lower

By , January 13, 2015 7:09 am

A fan of 20-pound billsDisappointing inflation figures are causing some trouble for the pound today. Sterling is lower against the dollar, and, while recovering against the euro and yen, is still trading somewhat choppily against other currencies.

Inflation figures are in for the United Kingdom, and they are worse than expected. Analysts had expected CPI to come in at 0.7 per cent for the month of December, but it came in at 0.5 per cent. PPI also showed a worse performance than expected, deepening from -8.2 per cent to -10.7 per cent.

The news means that the United Kingdom economy isn’t recovering quite as well as policymakers would like. As a result, the Bank of England may put off some of their monetary tightening. The policy divergence between the United States and the United Kingdom means that the dollar is gaining ground against the pound today.

Pound dropped initially against the euro and the yen, but sterling is now gaining on both currencies again as the day moves forward and stocks and gold offer some support.

At 12:52 GMT GBP/USD is still lower, down to 1.5174 from the open at 1.5178. EUR/GBP is down, falling to 0.7770 from the open at 0.7799. GBP/JPY is gaining ground, moving up to 179.9070 from the open at 179.6210.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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Pound Rallies After HPI Report & BoE Meeting

By , January 8, 2015 10:09 am

Various pound notesThe Great Britain pound rallied today following a positive report about house prices and the monetary policy decision made by the Bank of England. The currency dropped to the lowest level since July 2013 against the US dollar intraday but bounced to the opening level as of now.

The BoE decided to keep its monetary policy unchanged at today’s meeting. The central bank announced:

The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

As for economic data, the Halifax House Price Index rose 0.9 percent in December, three times the predicted rate of 0.3 percent.

GBP/USD was down from 1.5108 to 1.5034 intraday but rebounded to 1.5114 as of 16:45 GMT today. GBP/JPY advanced from 180.13 to 180.78.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Pound Drops to Lowest Since August 2013 vs. Dollar

By , January 2, 2015 7:12 am

Stack of coins on 10-pound and 20-pound billsThe Great Britain pound sank today, reaching the lowest level since August 2013 against the US dollar, as UK manufacturing slowed unexpectedly by the end of the year. The data suggested that the nation’s central bank will not be in a hurry to start raising interest rates.

The seasonally adjusted Markit/CIPS manufacturing Purchasing Managers’ Index dropped from 53.3 in October to 52.5 in December. Market participants counted on an increase to 53.7. The report added to speculations that Bank of England will postpone an interest rate hike until economic recovery becomes more stable.

GBP/USD sank from 1.5544 to 1.5413 (1.1 percent) as of 14:06 GMT today. GBP/JPY dropped from 187.14 to 185.98.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Pound Gains vs. Dollar, Retreats vs. Yen

By , December 30, 2014 5:45 am

Stack of UK coins on GB pound billsThe Great Britain pound gained today against the US dollar on the back of relatively positive housing data. Gains were limited though, and the currency dropped versus the Japanese yen.

The Nationwide House Price Index rose 0.2 percent in December. While it was not a bad result, the increase was smaller than the November’s 0.3 percent. HPI growth slowed on an annual basis as well. Despite the small gain of the pound on the dollar, analysts do not expect the rally to persist as the US currency has enough reasons to outperform the sterling.

GBP/USD rose from 1.5515 to 1.5539 as of 12:07 GMT today. GBP/JPY sank from 187.20 to 185.57.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

Earlier News About the Great Britain Pound:

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Yen Falls vs. Dollar on Poor Data, Stays Resilient vs. Pound & Euro

By , December 26, 2014 2:40 pm

The Japanese yen fell against the US dollar and the Great Britain pound today due to negative macroeconomic data. The drop was small, and the currency managed gained against the euro.

Almost all today’s reports from Japan were bad. Inflation slowed while both average cash earnings and industrial production dropped unexpectedly. The data suggests that Japan’s path to economic recovery is not straightforward and there will be difficulties.

Slowing inflation is particularly worrisome because it means that the Bank of Japan will not reach its inflation target as fast as it was expected. This, in turn, means that extremely accommodative policy will persist for longer.

While the monetary policy outlook is unfavorable for the yen, the risk-negative market sentiment is positive for the currency, limiting its losses and allowing to gain against some peers.

USD/JPY rose from 120.23 to 120.35 as of 19:21 GMT today. EUR/JPY dropped from 146.80 to 146.55. GBP/JPY went up from 187.06 to 187.24.

If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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UK Pound Loses Ground After Confidence Report

By , December 19, 2014 5:47 am

Focus on digits on UK pound notesAfter a good day yesterday, the UK pound is losing ground today. The latest consumer confidence report has been released and morale is down, brining the sterling down with it.

Yesterday was a good day for the UK pound, with the latest retail sales data, including a robust Black Friday, driving gains. Positive data sent the sterling higher against the euro and the dollar.

All of that is changed today, however. The pound is losing ground against many of its counterparts through a combination of profit taking and the fact that UK consumer confidence has taken a hit. The government has released numbers that show that confidence is down to -4 in December. Many analysts and economists had expected an improvement from -2 in November to -1. This setback surprised many, and now the sterling is losing ground.

Against the euro, the sterling is also seeing extra trouble, since the latest German Ifo data is encouraging the 18-nation currency to move a little higher after some days of difficulty. US PMI is in focus next, and some expect to see more trouble for the pound.

At 11:33 GMT GBP/USD is down t 1.5631 from the open at 1.5673. EUR/GBP is up to 0.7849 from the open at 0.7839. GBP/CAD is down to 1.8118 from the open at 1.8177.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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Pound Mixed Following Poor Economic Data

By , December 16, 2014 11:22 pm

Various pound notesThe Great Britain pound was mixed today following yesterday’s surprisingly strong performance. The sterling was resilient during the previous trading session even though macroeconomic data from the United Kingdom was disappointing.

Britain’s Consumer Price Index rose just 1.0 percent in November. This is compared to the median forecast of 1.2 percent and the previous month’s increase of 1.3 percent. The report cited following reasons for the slowdown:

Falls in transport costs (notably for motor fuels, air transport and second-hand cars) and in the prices of recreational and cultural goods were the main contributors to the slowdown in the rate of inflation between October and November.

Food and motor fuel prices, which have historically been upward contributors to the CPI 12-month rate, are currently reducing it by 0.4 percentage points.

Most other indicators released yesterday were poor too.

Yet the sterling performed rather well during the previous trading session despite the unfavorable data though it fell against the yen. Today, the pound had an opposite behavior: the currency dropped against the dollar but gained on the Japanese currency. Against the euro, the UK currency is flat.

GBP/USD ticked down from 1.5748 to 1.5725 as of 6:14 GMT today. GBP/JPY advanced from 183.31 to 183.91. EUR/GBP was flat at 0.7940.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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