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Featured Articles: GEMS of the Week
Category: British Pound
The news items published under this category are as follows.
Monday, December 01, 2008
Britain to Give up the Pound and Join the Euro? / Currencies / British Pound
By: Nadeem_Walayat
It seems that every few weeks more panic measures are announced by the UK government as it is forced to take drastic action in the face of a collapsing financial system and economy slumping fast into recession. First came Septembers ban on short selling of banking stocks, followed by the £500 billion budget busting bank rescue in October, then the panic interest rate cuts, and most recently the emergency VAT cutting budget, now speculation is growing as discussions are leaked that Britain is moving towards joining the Euro as alluded to by the
European Commission President Jose Manuel Barroso whilst speaking on French TV and radio Sunday:Read full article... Read full article...
Thursday, November 06, 2008
British Pound Weakens Ahead of Interest Rate Cut / Currencies / British Pound
By: Nadeem_Walayat
Sterling weakened from yesterdays level of £/$1.61 trading down to £/$1.59 ahead of today's anticipated rate cut which earlier analysis suggested could be as much as 1%. However the Pound is extremely oversold following its 25% crash from the high of £/$2.11 all the way to £/$1.53, this suggests that even a 1% cut would result in limited downside action until sterling has managed to work out its oversold state.Read full article... Read full article...
Friday, October 24, 2008
British Pound Crashes on GDP 0.5% Contraction / Currencies / British Pound
By: Nadeem_Walayat
The British Pound Crashed following the worse than expected GDP data that showed that the UK economy contracted by 0.5% in the third quarter which was against consensus forecasts of 0.2% and the Market Oracle forecast for a 0.3% drop. Anything worse than 0.3% was expected to lead to panic selling of sterling which is what transpired. The British Pound fell from an already depressed level of £/$1.61 all the way to £/$ 1.5250 a drop of more than 8 cents which represents the largest intra-day drop since exchange rates started to float freely following the collapse of the Bretton Woods system in 1971 due to trade imbalance strains. Read full article... Read full article...
Monday, September 08, 2008
British Pound Slides Deeper Against US Dollar / Currencies / British Pound
By: Regent_Markets
It was a good week for European equity markets with the FTSE100 finishing the week at 5636, its highest level for nearly two months. US markets didn’t have such a good time of it, with the Dow Jones and S&P500 finishing largely flat on the week and the Nasdaq closing well down after a sell off on Friday. There was better news for the Greenback though, as the Pound fell to its lowest level for two years against the US Dollar. Although the Dollar has undoubtedly been strong over the last month, last week’s move on Cable (USD/ GBP) was largely a factor of the weakening pound. It made a record weekly low against the Euro and fell to its lowest levels since spring against the Japanese Yen.Read full article... Read full article...
Sunday, August 17, 2008
British Pound Crashes on Dovish BOE Inflation Report / Currencies / British Pound
By: Regent_Markets
The FTSE finished the week down slightly, but the real loser last week was UK PLC. The pound crashed as various factors come to a head. Up until July, the US Dollar was the currency the world loved to hate, last week it was sterling's turn to be punished. The Bank Of England inflation report was more dovish than expected, opening the doors to possible interest rate cuts before the year is out.Read full article... Read full article...
Monday, April 28, 2008
British Pound: RELATIVELY Strong … / Currencies / British Pound
By: Black_Swan
We’ve been dogging on the pound for a series of months now. And for the most part, we expect to be dogging on it for months to come. Basically, weak economic data points are going to weigh on Bank of England and their interest rate policies. That, in turn, should undermine the pound. But ...Read full article... Read full article...
Tuesday, February 19, 2008
AUD/GBP Favourite Currency Play for 2008 Continues to Profit / Currencies / British Pound
By: Ashraf_Laidi
While central banks in most industrialized economies are either reducing interest rates or expected to do so thus year, the Reserve Bank of Australia is expected to further raise its rates to fresh 12-year highs. Overnight, the RBA revealed in the minutes of its policy meeting this month a debate whether to raise rates by 50-bps. The central bank ended up raising rates by 25-bps to 7.25% to counter rising wage and price inflation. Last week, the Aussie hit multi-month highs after Australia 's unemployment rate unexpectedly fell to a 34-year low of 4.1% last month from 4.3% in Dec. Interest rate futures are now pricing an 80% probability of a 25 bps rate hike next month. Diverging interest and GDP growth rates were the backbone of our December calls for broad Aussie gains versus GBP, EUR and USD. Read full article... Read full article...
Monday, December 31, 2007
British Pound Currency Forecast 2008 - GBP Headed Sharply Lower Against Strong Japanese Yen / Currencies / British Pound
By: Money_and_Markets
Jack Crooks writes: First, and most importantly, I hope you're closing out a happy, healthy and prosperous year. And I wish you the best in everything that 2008 brings.
When the markets are as exciting and nerve-racking as they've been this past year, it becomes increasingly difficult for us to look beyond the headlines. But if we are to profit, we must persist.
Read full article... Read full article...
Sunday, December 23, 2007
British Currency Ready for a Pounding! / Currencies / British Pound
By: Money_and_Markets
Throughout the year, we've told you why the U.S. dollar was weakening. The reasons are many, and most of them are still relevant.
But as 2007 winds down, I want to tell you what could be next year's biggest trend: Some other currencies feeling similar pressures. You see, the credit crunch is expanding, and so is the list of vulnerable parties.
Read full article... Read full article...
Thursday, December 20, 2007
British Pound Plunges on Record Trade Deficit / Currencies / British Pound
By: Nadeem_Walayat
Sterling already reeling from the credit crunch hitting the financial sector hard, tumbled again today on news of the biggest trade deficit since the aftermath of Nigel Lawson's late 1980's boom which was followed by early 1990's bust. The trade deficit soared to £20billions for the third quarter, in large part the credit crunch is to blame as investment income flows out of the worlds financial centre in London, whereas usually the case is for a healthy surplus. The deficit as a proportion of GDP amounts to 5.7%, and is way ahead of city estimates of 3%.Read full article... Read full article...
Monday, November 12, 2007
Pound Sterling Plunges Against the Yen / Currencies / British Pound
By: Regent_Markets
For once it wasn't just the Dollar that took a beating last Friday as the British pound fell sharply against the Yen, Euro, Swiss Franc and even the Greenback itself. The fall was all the more telling given the general mauling the dollar took last week against a whole host of currencies. Before Friday's pullback the Dollar hit a 26 year low against Sterling.Read full article... Read full article...
Tuesday, May 29, 2007
Pound VS Dollar Currency Analysis / Currencies / British Pound
By: Submissions
What happened ? We have had an interest rate rise and we have seen an increasing backing for another rise sometime soon.I am surprised that this has not been bullish for the pound
We have also seen some really benign inflation data coming out in America which would be dollar-negative, so why hasn't there been more pressure on dollar
Read full article... Read full article...
Sunday, March 04, 2007
British Pound (GBP/USD) Targeting a Significant Downtrend to 1.8600 / Currencies / British Pound
By: Nadeem_Walayat
The US Dollar strengthened late last week, especially against much a weaker British Pound, which ended Friday on a weak 1.9430. The Pound earlier in the week again failed to get anywhere near breaching the previous high of 1.9890.
Saturday, September 23, 2006
The Pound is finding resistance above 190 / Currencies / British Pound
By: Nadeem_Walayat
The British Pound has rallied strongly from the lows earlier in the year to 190, but now has hit heavy resistance at above 190, which suggests a correction is likely.
Read full article... Read full article...
Tuesday, April 18, 2006
Is it time for the British Pound to resume its Bull Market ? / Currencies / British Pound
By: Nadeem_Walayat
The British Pound (GBP) has spent the last 6 months building a firm support base between 170 and 178, and is now showing signs that it is ready to resume the main uptrend that began June 2001.
