Worst Week for Sterling in Nine Months

Great Britain book published this week the biggest weekly fall against the U.S. dollar nine months of speculation that the fragile UK economy will force the central bank to keep interest rates at historic low. Virtually all the key data this week was negative for the pound. Whether house prices, industrial production or the producer price...

read more "Worst Week for Sterling in Nine Months"

Franc Considered Overvalued Even Pegged to Euro

The Swiss franc fell against other major currencies today as the Finance Minister Johann Schneider-Ammann said the currency is "vastly overrated" even after the central bank set the franc to the euro. The franc rose against the euro today. The minister explained that he believes that the fair rate for the franc is the following: There is...

read more "Franc Considered Overvalued Even Pegged to Euro"

Canadian Dollar Falls with Employment

The Canadian dollar for a second day today against its U.S. counterpart and the Japanese yen, towards parity with the dollar after the report showed that employment in Canada fell and unemployment rate unexpectedly rose last month. The currency managed to gain against the euro. Statistics Canada reported today that the number of employed...

read more "Canadian Dollar Falls with Employment"

BoE Keeps Main Interest Rate Unchanged, GBP/USD Fluctuates

The British pound against the dollar fluctuated today after the Bank of England kept its main interest rates unchanged yesterday and today's report showed that producer prices fell last month. The pound rose against the yen. The Bank of England left the official Bank rate at 0.5 percent and purchases of assets by £ 200 billion yesterday....

read more "BoE Keeps Main Interest Rate Unchanged, GBP/USD Fluctuates"

ECB Keeps Rates Unchanged, Euro Falls

The euro weakened today, falling for a second day against the dollar and the yen after European Central Bank kept its key interest rate unchanged yesterday. The ECB left its minimum bid target of 1.5 percent. Central Bank President Jean-Claude Trichet said at a press conference after the monetary policy decision: Looking ahead, we expect...

read more "ECB Keeps Rates Unchanged, Euro Falls"