Currency Solutions News
Damage On Sterling
(September 24, 2010)The minutes issued by the Bank of England had a decisive affect on Sterling. This resulted in the Sterling taking a dive to the lowest point at about 1.167. The policy that was voted was 8-1 in favor which would keep the interest rates at the level of 0.5% which in turn resulted in the changing of the quantitative easing. The weak growth has to some extent encouraged the members to worry about the weak growth that has been bothering UK’s prospects and at the same time this has enhanced the worries related to US and Europe’s spending cuts. The minutes that have been released did not make any mention of the quantitative easing but it did speak in favor of monetary policy. This quantitative rising increased from August and July. The economy according to Bo E has been torn between number of risks. The rise in inflation which had stemmed from above – target prices and the cuts of the public sector has been weakened by the public sector demand.
An All Time Low For The Pound
(September 23, 2010)The pound slumped to a fresh seven week low against the Euro, dropping under 1.19. The UK currency also amongst the 16 most traded currencies. Rightmove Plc, UK’s biggest property website said that home sellers lowered asking prices for the third consecutive time in the month of September. Foreign exchange shows asking prices in UK fell at an average of 1.1 percent from the previous month. This fall wiped out almost 50 percent of the gains made since the start of the financial year. There has been a rise in the supply of homes which has pushed down the foreign exchange market a bit. But the lending conditions are still tight as banks are not showing much interest in freeing up credit. The Pound is still up 5.6 percent against the US dollar, and bank of England has said that it will try to improve investor conditions for UK public finance.
Will QE2 Get Launched?
(September 22, 2010)The Fed Meeting has been one of the most phenomenal incidents that have occurred in the recent past. It is a committee decision of great importance. The interest rates and the foreign exchange rates are almost close to zero and now the question is whether the rates would rise or not. The rise in the rates of QE in the economy would help to increase the level of spending in the US economy. But though it is warranted it might not happen very soon. Fed would be requiring another conformity dip in both retail and business spending along with the rise in the level of employment. The link between the equities, bonds and commodities have proved to be a broken one which again has proved to be of alarming nature in foreign exchange. The equity market too is destined to burst out if the QE2 is not launched immediately. This would be of the similar burst that has already been experienced at Ireland foreign exchange.
Market Tension Frightens The Irish
(September 21, 2010)Friday saw the short term leash of the risky assets for the sovereign debt has made the member states quite unnerved. This has also caused havoc in the market, among the market participants and foreign exchange rate dealers.
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(March 10, 2010)Currency Solutions Reviewed
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