From TorFX daily insight, 2 days ago, Read 0 times. Similar articles
If Greece leaves, the threat of contagion among the other southern Euro states could break the 17-nation bloc. The Eurozone debt crisis is an ongoing phenomenon that has threatened to tear apart the 17-nation currency bloc. Characterised by colossal debt piles, rocketing bond yields, anaemic economic growth, frayed investor confidence, dangerous trade deficits, unsustainable borrowing, nauseous unemployment, political upheaval and civil unrest the sovereign debt crisis has hit Europe like an...
From TorFX daily insight, 2 days ago, Read 0 times. Similar articles
The Euro plunged to a fresh four-month low against the U.S Dollar, extending declines to a third straight week, amid concern that the sovereign debt crisis is worsening Sterling / Euro and US Dollar exchange rates The Pound declined against the Euro yesterday, falling back towards 1.2450, while the UK currency slumped towards a new low under 1.58 versus the U.S Dollar, as global risk appetite weakened on the threat of contagion in the Euro-zone. The single currency fell to a new four month...
From TorFX daily insight, 3 days ago, Read 0 times. Similar articles
Over the past week ?700 million has been withdrawn from Greek banks as many investors are looking to transfer funds out of Greece Political leaders in Greece have failed to form a coalition government signalling fresh elections next month. Just over a week ago an inconclusive general election saw voters reject the established political parties in favour of anti-austerity movements on both sides of the political spectrum. Exit polls suggest that the leftwing SYRIZA party led by Alexis Tsipras,...
From TorFX daily insight, 3 days ago, Read 0 times. Similar articles
The Pound remained largely unchanged against the Euro Sterling / Euro and US Dollar exchange rates The Pound remained largely unchanged against the Euro yesterday, hovering around the 1.25 level for the majority of the day. The UK currency declined significantly versus the U.S Dollar, falling below 1.59, as risk sentiment weakened in line with escalating concerns surrounding Greece and the Euro-zone debt crisis as a whole. In the UK, the latest unemployment data was stronger-than-expected...
From TorFX daily insight, 4 days ago, Read 0 times. Similar articles
The US Dollar and Japanese Yen pushed significantly higher overnight as equity markets witnessed a major sell off, boosting demand for the go-to safe haven currencies. Sterling / Euro and US Dollar exchange rates Sterling is currently holding above 1.2500 on interbank against the Euro, however has deteriorated rapidly against the US Dollar during trading this morning, reaching a low of 1.5889. GDP data released yesterday morning, which confirmed that economic growth in Germany accelerated,...
From TorFX daily insight, 5 days ago, Read 0 times. Similar articles
On a technical level Sterling/US Dollar seems to be heading back below 1.6000 which could pave the way to a possible bearish move towards 1.5800. Foreign Currency Market Update – GBP / USD Update The Pound to US Dollar exchange rate fell this morning as the ongoing sovereign debt crisis in Europe weakened UK Trade Balance figures. Sterling’s latest slip-up has caused the currency pair to dip below an important support level at 1.6080 and has opened the door for stronger...
From TorFX daily insight, 5 days ago, Read 0 times. Similar articles
The Euro also rebounded from a four month low against the Dollar following the growth figures. Sterling / Euro and US Dollar exchange rates The Pound weakened from the highest level since November 2008 against the Euro this morning, while the single currency also made fleeting gains versus a number of currencies, after data showed that economic growth in Germany accelerated and helped the Euro-zone avoid a recession. The much better-than-expected GDP numbers in Europe’s largest economy...
From TorFX daily insight, 5 days ago, Read 0 times. Similar articles
The start of this week’s session has seen GBP CAD on the front foot once more, as investors’ concerns over the Greek debt crisis escalate. Foreign Currency Market Update – GBP / CAD Update The Pound had registered gains against the CAD in six of the seven sessions leading up to the release of last Friday afternoon’s Canadian employment figures, taking the GBP CAD exchange rate to 1.6206, its highest level in five and a half months. Analysts had anticipated that the...
From TorFX daily insight, 5 days ago, Read 0 times. Similar articles
Last week’s comments from South African Reserve Bank Governor Gill Marcus, stating that there is ‘limited, if any, room’ for domestic interest rate cuts in the short-to-medium term due to persistently high levels of South African inflation, have reaffirmed the Rand’s position as one of the most risk-sensitive currencies in the global economy. Foreign Currency Market Update – GBP / ZAR Update The GBP ZAR exchange rate has surged during the past week, making gains...
From TorFX daily insight, 5 days ago, Read 0 times. Similar articles
The Pound continued to advance to yearly highs against the Australian Dollar, New Zealand Dollar and South African Rand Sterling / Euro and US Dollar exchange rates The Pound continued to advance to yearly highs against the Australian Dollar, New Zealand Dollar and South African Rand yesterday, as swings in global risk sentiment persisted and has a major impact on the risk sensitive currencies. The UK currency has also maintained its aggressive upward swing versus the Euro, as concerns over...