Tag Archives: sterling

British pound falls after weak UK construction data

The British pound fell sharply versus the dollar after a report indicated that construction activity in the United Kingdom contracted in March for a third consecutive month. Construction PMI edged up to 47.2 in March, missing estimates of a 47.5 increase, though higher than February’s 46.8. However this number is below the 50 level that separates expansion from contraction. GBPUSD...

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April 3, 2013 @ 11:49 am

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Sterling climbs on higher UK inflation data

Sterling was supported against the dollar and euro on Tuesday after higher  UK inflation data in February. PPI input and output month‐over‐month increases were significantly higher than expected (+3.2% and 0.8%, respectively); however CPI was broadly as expected, rising 0.7%m/m and 2.8%y/y on headline and 2.3% on core. GBPUSD hit an intraday high of $1.5143 and EURGBP fell to 0.8551....

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March 19, 2013 @ 2:21 pm

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Sterling lifted by BOE governor’s bright outlook on UK economy

The British pound surged 0.5 percent against the dollar during the London trading session on Friday after being lifted by encouraging remarks from the Bank of England governor Mervyn King. King said that “Recovery is finally in sight for Britain's beleaguered economy” and that the bank’s monetary policy committee members are not trying to weaken the pound. He believes that the decline in...

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March 15, 2013 @ 12:31 pm

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Pound at 2-1/2 year low as BOE expected to ease monetary policy

Sterling is weak against most major counterparts due to growing speculation that the Bank of England may expand quantitative easing as the U.K. economy is at risk of falling into its third recession in four years. In contrast, the Federal Reserve may cut back on its asset purchase programme later this year due to an improving US economy. The strong jobs data on Friday may lend support to this...

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March 11, 2013 @ 7:06 pm

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