The Great Britain pound tumbled today as the Services Purchasing Managers’ Index slumped in August, confirming a bad state of Britain’s economy and reducing attractiveness of the UK currency as a haven from problems in continental Europe.
Sunday, September 18, 2011
Pound Falls as Retail Sales Decline. More Stimulus Ahead?
The Great Britain pound fell today, dropping to the lowest level in almost two months against the US dollar, after the report showed that UK retail sales declined in August, spurring speculation that Britain’s central bank will be required to stimulate the nation’s economy.
More Bad Macroeconomic Data from UK, Pound Hurt
The Great Britain pound slid versus the euro and the Japanese yen today after the macroeconomic data showed that industrial production slowed in July and house prices declined last month. Both results came out as an unpleasant surprise for market participants.
BoE Keeps Main Interest Rate Unchanged, GBP/USD Fluctuates
The Great Britain pound fluctuated versus the dollar today after the Bank of England kept its main interest rates unchanged yesterday and today’s report showed that producer prices declined last month. The pound advanced against the yen.
Worst Week for Sterling in Nine Months
The Great Britain pound posted this week the biggest weekly drop against the US dollar in nine months on the speculation the fragile UK economy will force the nation’s central bank to keep the interest rates at the record low level.
GBP Falls for Fourth Week, Quantitative Easing Expected
The Great Britain pound posted the fourth straight weekly decline against the US dollar and the Japanese yen as the fundamental data signaled that the nation’s economy is stagnating, prompting the speculation the UK central bank will be required to embark on a quantitative easing.
Indian Rupee Approaches Recent Record-Low
The Indian rupee declined against the U.S. dollar today, almost reaching a new record-low level, as the domestic companies converted to dollars in order to pay for the imported goods.
Subscribe to:
Posts (Atom)