Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: ‘pound

UK Pound Struggles Against Its Major Counterparts

By , October 29, 2014 5:17 am

Great Britain pound symbolUK pound is struggling against its major counterparts today, heading lower as interest rates expectations weigh. With the Bank of England expected to maintain low rates, there isn’t a whole lot to help support the pound against other major currencies in Forex trading.

The Forex market is buzzing after yesterday’s comments from Bank of England policymakers. Deputy Governor Jon Cunliffe said that the Bank of England could afford to keep interest rates low for longer, and this has reduced the rumors that the MPC is ready to raise interest rates in the near future. Many think that it will be some time before the BOE takes that step.

Right now, inflation remains below the target level for the United Kingdom, so Cunliffe is right that there is no pressing need to raise rates, even though some of the more hawkish members of the MPC have made comments about the need to do so soon. As long as inflation remains well under control, though, the BOE is likely to continue to keep rates low in the name of economic stimulus.

At 10:52 GMT GBP/USD is down to 1.6119 from the open at 1.6129. EUR/GBP is up to 0.7902 form the open at 0.7894. GBP/JPY is down to 174.2820 from the open at 174.4750.

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:

Forex News

Pound Ends Friday with Gains

By , October 24, 2014 9:53 pm

A fan of Great Britain 10-pound notesThe Great Britain pound ended Friday with gains thanks to GDP report that was in line with analysts’ expectations and poor economic data from the United States. The currency still ended the week with losses versus the euro.

Britain’s gross domestic product grew 0.7 percent in the third quarter of this year from the previous three months. While the expansion was slower than the second quarter’s 0.9 percent, it matched forecasts. Experts argue that most market participants counted on a worse figure and the not-so-bad report resulted in relief, bringing the sterling higher.

The UK currency was falling at the previous trading session due to the negative retails sales report. Sales were down 0.3 percent in September from August, demonstrating a bigger drop than was expected by specialists.

GBP/USD rose from 1.6029 to close at 1.6085 on Friday. EUR/GBP dropped from 0.7915 to 0.7874, while GBP/JPY advanced from 173.50 to 173.91, bouncing from the intraday low of 172.96.

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:

Forex News

Economic Data Doesn’t Support Britain’s Pound

By , October 10, 2014 6:52 am

UK coins on banknotesEconomic news from the United Kingdom were good for the most part today, but it did not prevent the Great Britain pound from dropping and reaching the lowest level in a month against the Japanese yen.

Britain’s trade deficit in goods shrank by £1.3 billion to £9.1 billion in August from July, more than was predicted by specialists. The Conference Board Leading Index rose 0.4 percent in August after increasing 0.2 percent in the previous month. Not all indicators were good, though, as construction output declined 3.9 percent in August instead of growing 0.5 percent as was projected by experts.

GBP/USD dropped from 1.6117 to 1.6031 as of 12:39 GMT today. GBP/JPY tumbled from 173.80 to 172.94, trading near the lowest level since September 11.

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:

Forex News

Pound Higher After BoE Meeting

By , October 9, 2014 6:22 am

Stack of coins on 10-pound and 20-pound billsThe Bank of England made no surprise, keeping its monetary policy on hold. Yet the Great Britain pound was still able to trim its losses versus the Japanese yen as well as to keep rallying against the US dollar.

The BoE announced today:

The Bank of England’s Monetary Policy Committee at its meeting on 8 October 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 the UK central bank, unlike central banks of other countries, does not release a detailed statement after its decision, the meeting had a limited impact on the currency’s performance. Still, the sterling was supported by speculations that pressure on BoE mounts to start raising interest rates, especially as two board members have already voted for monetary tightening at the previous meeting.

GBP/USD rose from 1.6166 to 1.6216 as of 11:33 GMT today. GBP/JPY traded at 174.59, trimming its drop from 174.74 to 174.03.

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

Forex News

UK Pound Gains Ground Today

By , October 9, 2014 3:40 am

After struggling recently, the UK pound is gaining a little ground today. Recently released data is helping the sterling, especially as the economic divergence between the United Kingdom and the eurozone remains pronounced.

After seeing some unexpected weakness earlier, the UK pound is turning around and making some gains against some of its major counterparts. The pound is seeing success against the dollar and the euro today, even though it is struggling a bit against Down Under currencies.

Recent economic data points to a recovering sterling. The financial services sector is expanding, and new car registrations are up. Even through the Centre for Economics and Business Research is predicting a bit of a cool down for the housing market in the United Kingdom, there is still good news for the sterling, since it means the Bank of England could be closer to raising rates.

And, of course, the pound continues to do relatively well against the eurozone. Investor confidence and other measures of interest in the eurozone are dropping, and the pound looks like a good alternative to the 18-nation currency.

At 10:36 GMT EUR/GBP is down to 0.7869 from the open at 0.7876. GBP/USD is up to 1.6204 from the open at 1.6168. GBP/JPY is down to 174.5440 from the open at 174.7550.

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

Forex News

Manufacturing Data Boosts Pound Against Euro

By , October 7, 2014 5:25 am

Banknotes of 5, 10 and 20 poundsUK pound is heading higher against the euro today, even though it is down against its low-beta counterparts, the dollar and then yen. Economic divergence is one of the reasons that the pound is doing so well against the euro today.

The latest data to come out of the United Kingdom is manufacturing production. This measure rose by 0.1 per cent from July to August, according to the Office for National Statistics. Compare this to the latest data from Germany, which points to lower output.

With the divergence in economic data, the United Kingdom has the upper hand against the eurozone. However, the pound is still struggling against the US dollar and the Japanese yen. Even though the situation is improving in the United Kingdom, it’s still not improving as quickly as thing are improving in the United States.

Plus, the UK pound has a problem in terms of uncertainty. While the UK economy is doing well as compared to what’s happening in the eurozone, and while it’s recovering better than initially estimated, the reality is that the US economy is still recovering better.

At 10:33 GMT GBP/USD is down to 1.6049 from the open at 1.6083. EUR/GBP is down to 0.7842 from the open at 0.7868. GBP/JPY is down to 174.4860 from the open at 174.9550.

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

Forex News

Pound Struggles a Bit on Economic Data

By , October 6, 2014 4:56 am

A fan of 20-pound billsUK pound is struggling a bit against some of its major counterparts today, thanks largely to recent economic data. While the pound is higher against the dollar right now, it is down against the euro and the yen.

Last week ended with a lot of economic data for Forex traders and others to process. One of the bits of data was the fact that September PMI data for the United Kingdom was below expectations.

This news initially sent the pound lower against other currencies, including the dollar, but things have changed a little bit. The pound has managed to gain ground against the greenback today, probably on profit taking.

Pound remains lower against other major currencies, though. With concerns that the economy might be flagging again, there is speculation that the Bank of England will retain its current slow pace when it comes to ending quantitative easing and tightening monetary policy.

For now, the pound is mostly lower, dropping against the yen and the euro, even as it gains a bit against the US dollar.

At 10:15 GMT, GBP/USD is a bit higher, up to 1.5986 from the open at 1.5958. EUR/GBP is higher, gaining to 0.7853 from the open at 0.7841. GBP/JPY is lower, dropping to 174.7690 from the open at 175.0850.

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

Forex News

UK Pound Pulls Back After Earlier Gains

By , October 2, 2014 8:25 am

Stack of UK coins on GB pound billsUK pound is heading lower right now, pulling back after earlier gains. Good economic data provided some support for the sterling, but now profit taking has taken its toll, and lower equities are weighing on the pound.

The latest economic data out of the United Kingdom has been better than expected. Markit Construction PMI came in at 64.2, when many expected it to fall to 63.5. Not only that, but the recent GDP revision for the second quarter brought the number up to 0.9 per cent, which is better than expected.

With the good news coming in, and speculation that the Bank of England will have to reduce its easing measures soon, sterling made a good showing earlier. However, the rally for the pound has been brief.

Sterling is now down against most of its major counterparts. There are thoughts that it is due largely to profit taking, as well as a touch of wait and see as we look for the next ECB announcement and as we wait for September nonfarm payrolls data in the United States, due out tomorrow.

At 10:48 GMT GBP/USD is lower, down to 1.6153 from the open at 1.6186. EUR/GBP is up to 0.7824 from the open at 0.7799. GBP/JPY is down to 175.3440 from the open at 176.2850.

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

Forex News

UK Pound Unable to Keep Gains

By , October 2, 2014 5:40 am

Great Britain pound symbolThe Great Britain pound attempted to rally today after a positive report about the construction sector but was unable to hold onto gains, falling to the lowest level in three weeks against the US dollar.

The Markit/CIPS UK Construction Purchasing Managers’ Index rose a little from 64.0 in August to 64.2 in September instead of falling as was predicted by experts. Investors remained unconvinced by the positive data as most other economic indicators have been not nearly as good. Additionally, traders were pricing in no policy change from the European Central Bank, making the sterling less appealing as a haven from Europe’s problems.

GBP/USD fell from 1.6183 to 1.6147 as of 12:28 GMT today after rising to 1.6250 earlier. GBP/JPY advanced from 176.24 to 176.65 before pulling back to 175.61 later.

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:

Forex News

Airstrikes Pound ISIS Targets in Iraq, Syria

By , October 1, 2014 8:25 pm

By Laura Smith-Spark, Chelsea J. Carter and Ben Wedeman

IRBIL, Iraq (CNN) — A day after Britain’s military launched its first airstrikes against ISIS in Iraq, the question is: Who will be next to join the U.S.-led coalition in its air campaign against the extremists who have seized a swath of Iraq and Syria?

As Turkish soldiers and tanks took up position along the border with Syria on Tuesday, Turkey’s government put a motion before its Parliament asking for authorization to take military action against ISIS — the terror group that refers to itself as the Islamic State.

Lawmakers are expected to debate the measure in a special session Thursday before voting, according to Anadolu, Turkey’s semiofficial news agency.

Australian aircraft started flying over Iraq in support of allied operations Wednesday, Prime Minister Tony Abbott told Parliament in Canberra.

But the government is awaiting an invitation from Iraq before a final decision is made on whether to commit Australian forces to airstrikes, he said.

The Australian mission consists of inflight refueling and electronic surveillance in support of the United States and others.

The retired U.S. Marine general tapped to coordinate the U.S.-led coalition against ISIS said there is an opportunity for broad cooperation in the fight, even as the countries involved struggle to define their roles.

“It’s actually an important moment where so many countries from so many different backgrounds share that view (that ISIS poses a threat to the region), that this is an opportunity to create partnership across those lines of effort that would achieve real effect,” John R. Allen told CNN.

Airstrikes rain down

The United States could use the help. The airstrikes have already cost it close to $ 1 billion, according to the Center for Strategic and Budgetary Assessments, a military think tank.

That number will only rise as costly munitions are used — and could soar further if more U.S. forces are committed to the operation.

The U.S. military said Tuesday that it was the busiest day for airstrikes against ISIS since the military campaign began, with 28 total, including the two UK strikes.

More strikes were carried out Wednesday by the United States and a partner nation, the U.S. military said, including around the predominantly Kurdish town of Kobani in Syria, known in Arabic as Ayn al Arab. Other strikes hit ISIS targets in Iraq northwest of Mosul, near the Haditha Dam and northwest of Baghdad.

Tuesday, British planes helped Kurdish troops who were fighting ISIS in northwestern Iraq, dropping a bomb on an ISIS heavy weapon position and shooting a missile at an armed pickup truck, the UK’s Defense Ministry said.

An initial assessment indicates both strikes were successful, according to the ministry.

Britain joins the United States and France as countries that have hit ISIS in Iraq with airstrikes, while Belgium and Denmark have also said they also will provide planes. Of those nations, only the United States — in partnership with some Arab countries — have struck ISIS positions in neighboring Syria.

When the first coalition airstrikes came in Iraq and Syria, Turkey’s absence was noted.

Turkey has said it is offering support to the U.S.-led coalition targeting ISIS, but it has stopped short of joining the 40-some countries that make up the group.

Blast hits school

In Syria, where a 3½-year-old civil war rages on between government forces and rebel groups including ISIS, twin blasts struck Wednesday near a school in the nation’s third-largest city, Homs.

The death toll has climbed to 39, with at least 30 children between the ages of 6 and 9 killed, according to U.N. Secretary-General Ban Ki-moon. The toll was confirmed by the London-based monitoring group the Syrian Observatory for Human Rights, which collects information about civilian casualties in the country.

An explosives-packed car was detonated minutes before a suicide bomber blew himself up in front of the school Wednesday, Syria’s state-run SANA news agency said. The blasts were timed to coincide with students leaving school, to inflict maximum casualties, it said.

The neighborhood that was attacked is predominantly Alawite, a religious minority that is a Shiite offshoot to which Syrian President Bashar al-Assad belongs. There was no immediate claim of responsibility.

It was the first such attack in months in Homs, once at the heart of the anti-Assad revolution but now firmly back under government control.

Images that aired on state-run Syrian TV showed gruesome images of the aftermath of the blasts, including body parts scattered across a neighborhood in chaos.

Ban described the attack on children as “an act of utmost depravity,” according to a statement released by his office.

Refugees flood into Turkey

Turkey’s debate over whether to step into the fray comes as the flood of refugees from Syria has escalated, with 150,000 people fleeing to Turkey in recent days. Meanwhile, ISIS fighters armed with tanks and heavy weapons advance on Kobani in northern Syria, destroying villages in their path.

Two Kurdish fighters told CNN that three airstrikes were carried out around Kobani early Wednesday, two to the east and one to the west of the town.

If ISIS takes Kobani, it will control a complete swath of land from its self-declared capital of Raqqa to the Turkish border, more than 100 kilometers (60 miles) away. It has been fighting for months, capturing portions of northern and eastern Syria and western and northern Iraq for what it says is its new Islamic state, or caliphate.

And Sheikh Hassan, of the Syrian Kurdish National Defense committee, who is in Kobani, said fighting continues to the east, west and south of the town, with neither side having taken more ground.

Kurdish fighters and ISIS militants are also exchanging fire near the Syrian village of Siftak to the west of Kobani, south of the Turkish village of Karaca, Kurdish fighter Alan Minbic said.

Meanwhile, police officials in Kirkuk, northern Iraq, told CNN that a motorcycle rigged with explosives detonated in a village in northern Kirkuk on Wednesday. At least two people were killed and 11 injured.

Two roadside bombs exploded in a commercial area in Mahmoudiya, about 19 miles (31 kilometers) south of Baghdad, police officials in the capital said. At least three people died and 18 others were injured.

Assyrian International News Agency