British Pound - Page 4
Page 4 of 20 FirstFirst 1234567814 ... LastLast
Results 31 to 40 of 199

Thread: British Pound

  1. #31
    The pound strengthened from a six-week low against the dollar after an industry report showed U.K. home sellers raised asking prices to a record, adding to optimism Britain’s economy is improving.

    Sterling advanced for the third time in four days versus the greenback after Bank of England Governor Mervyn King said in an interview broadcast yesterday that a “modest recovery” is underway, though “more needs to be done” to encourage growth. The dollar weakened against most of its 16 major peers before Federal Reserve Chairman Ben S. Bernanke testifies to Congress on Wednesday. U.K. government bonds declined for a second day.
    “There’s a little bit of softness in the dollar versus the pound today,” said Daragh Maher, a London-based currency strategist at HSBC Holdings Plc. “There’s a bit of position squaring after the run we have seen and ahead of Bernanke this week, but the dollar remains a buy on dips. The Bank of England revised their growth outlook last week but it’s hardly the stuff of legends.”


  2. #32
    The pound slid to a six-week low against the dollar after a government report showed inflation slowed more than economists forecast, giving the central bank more room to boost stimulus that tends to weaken a currency.

    Sterling dropped versus all except one of its 16 major counterparts before the Bank of England publishes the minutes of its May 8-9 meeting tomorrow, which will reveal how many policy makers voted to boost asset purchases at the gathering. U.K. government bonds were little changed after rising when the inflation data was released.
    “This is a negative for sterling because quite clearly weaker inflation opens the door for more monetary stimulus,” said Peter Frank, global head of head of currency strategy at Banco Bilbao Vizcaya Argentaria SA (BBVA) in London. “It’s not a huge undershoot but it’s a fairly weak number before tomorrow’s crucial minutes. It cements investor decision-making to sell sterling.”
    The pound dropped 0.6 percent to $1.5157 at 4:32 p.m. London time after falling to $1.5113, the lowest level since April 4. The U.K. currency weakened 0.8 percent to 85.11 pence per euro, the biggest decline since March 7.


  3. #33
    The pound was set for a third weekly decline against the dollar before a report from the British Bankers’ Association that economists said will show U.K. mortgage approvals rose in April.

    Sterling headed for its biggest weekly drop versus the euro in more than three months. Lenders granted 32,800 approvals in November, up from 33,227 in March, according to the median estimate of six analysts’ forecasts in a Bloomberg News survey.
    The pound was little changed at $1.5096 as of 7:37 a.m. London time after dropping to $1.5014 yesterday, the lowest level since March 14. It has fallen 0.5 percent this week. Sterling was at 85.68 pence per euro after depreciating to 85.90 pence on May 22, the weakest since April 22. The U.K. currency has dropped 1.3 percent since May 17, the biggest weekly slide since Feb. 15.
    The pound has slipped 3.1 percent this year, the second-worst performer after the yen among the 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The dollar gained 5.2 percent and the euro rose 2.9 percent.


  4. #34
    The pound may drop to a four-year low of $1.37 during Mark Carney’s tenure at the Bank of England, according to Michael Amey, a money manager at Pacific Investment Management Co. in London.

    The incoming governor, who takes over from Mervyn King in July, will want to see the currency decline, so the “clearest trade” is to sell the pound, Amey said in an interview today. A similar move against the euro is unlikely to be achievable because of the common-currency bloc’s “challenges,” he said. The pound has dropped 3 percent this year, the third-worst performer after the yen and the Australian dollar, according to Bloomberg Correlated-Weighted Indexes.
    Sterling can depreciate “on a trade-weighted basis, probably another 10 to 15 percent,” Amey told reporters at a media briefing in London today. Carney is going to “try and keep sterling certainly from going up, and probably I think he’s going to want to see it going lower. I don’t think $1.37 is a big ask.”
    The pound strengthened 0.5 percent to $1.5110 at 2:10 p.m. London time after falling to $1.5009, the least since March 14. The U.K. currency has weakened 7 percent against the dollar this year. It last traded at $1.37 in March 2009.


  5. #35
    The pound rose the most since October 2009 against the dollar as the Bank of England refrained from adding to stimulus that debase the currency at Governor Mervyn King’s final meeting amid signs growth is accelerating.

    The U.K. currency advanced versus all except two of its 16 major peers as a Halifax report showed house prices rose for a fourth month in May. Gilts fell as European Central Bank President Mario Draghi said the ECB kept further measures, including negative deposit rates, on the shelf at this month’s meeting. The pound is still the worst performer among Group of Seven countries since King became central-bank governor in July 2003, according to Bloomberg Correlation-Weighted Indexes.


  6. #36
    The pound had its biggest weekly gain versus the dollar in more than three years as U.K. manufacturing, services and home-price data beat economist forecasts, boosting confidence in the economy.

    Sterling appreciated for the first week in six against the euro. It rallied to the strongest level in more than three months versus the greenback, as the U.S. currency dropped versus all but two of its 16 major counterparts. U.K. government bonds fell for a third week after Bank of England policy makers kept stimulus measures unchanged at Governor Mervyn King’s final meeting.
    “Sterling has enjoyed a happy combination of better-than-expected economic data at the same time as the bullish mood on the U.S. dollar was on the retreat,” said Daragh Maher, a London-based currency strategist at HSBC Holdings Plc. “The fact that it also outperformed the euro likely reflected the more aggressively short position that the market had on the pound when the week began.” A short position is a bet an asset price will decline.
    The pound advanced 2.3 percent to $1.5553 as of 5:12 p.m. London time yesterday, the biggest weekly gain since October 2009. It jumped to $1.5684 on June 6, the strongest level since Feb. 13. The U.K. currency appreciated 0.6 percent to 85.04 pence per euro.


  7. #37
    The pound climbed for a third week versus the dollar, the longest run of gains since September, as a report showed U.K. jobless claims fell more than economists forecast in May, adding to signs the economy is recovering.

    Sterling climbed to its highest level in more than four months against the U.S. currency as a wider measure of unemployment (UKUEILOR) declined in April, adding to speculation Bank of England policy makers will refrain from expanding their asset-purchase plan. Gilts were little changed after 10-year yields rose to the highest level since February as the U.K. sold 6 billion pounds ($9.4 billion) of debt due in 2023 and 2032.
    “Recent data, especially the jobs report, suggested the economy has stabilized,” said Jane Foley, senior foreign-exchange strategist at Rabobank International in London. “Whilst it’s got to be said that all these economic numbers came from a very weak base, they certainly showed some improvement. From that point of view, sterling’s recovery is justified.”


  8. #38
    The pound was little changed versus the dollar and euro before the Bank of England releases minutes of its June 5-6 policy meeting, Governor Mervyn King’s last before Mark Carney takes over on July 1.

    Sterling was about 0.5 percent from the lowest level in a week against the U.S. currency as investors awaited the end of the Federal Reserve’s two-day policy meeting that may signal when the U.S. central bank will slow its bond-buying program. The Bank of England kept its target for asset purchases at 375 billion pounds ($587 billion) this month. The Monetary Policy Committee also held the U.K.’s main interest rate at a record-low 0.5 percent.
    The pound traded at $1.5644 at 7:17 a.m. London time after slipping to $1.5566 yesterday, the lowest since June 11. Sterling was at 85.62 pence per euro, after reaching 85.85 yesterday, the weakest since May 30.


  9. #39
    The pound advanced for a second day against the dollar as the Debt Management Office prepared to sell U.K. government bonds maturing in 2068 via banks.

    Sterling was little changed versus the euro before Bank of England Governor Mervyn King testifies to the Treasury Committee in his final appearance as central-bank chief. The yield on U.K. 10-year gilts reached 2.59 percent yesterday, the highest level since October 2011, after Federal Reserve Chairman Ben S. Bernanke said last week U.S. policy makers may begin paring asset purchases this year and end them in mid-2014.
    The pound rose 0.1 percent to $1.5454 at 7:39 a.m. London time after sliding to $1.5344 yesterday, the lowest level since June 5. Sterling traded at 85.07 pence per euro.
    King will speak on the Bank of England’s May 2013 inflation report along with Chief Economist Spencer Dale, and Monetary Policy Committee members Ben Broadbent and Martin Weale.
    Sterling has strengthened 4.7 percent in the past three months, according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-market currencies. The euro gained 5.2 percent and the dollar climbed 2.6 percent.


  10. #40
    The pound was little changed against the dollar and euro as Chancellor of the Exchequer George Osborne prepared to present a spending review to parliament.

    Osborne will detail 11.5 billion pounds ($17.7 billion) of savings negotiated with government departments for the year starting April 2015. Bank of England policy maker David Miles is scheduled to speak at a Euromoney conference in London, while the central bank will publish its financial stability report.
    The pound traded at $1.5433 as of 7:23 a.m. London time. It slid to $1.5344 on June 24, the least since June 5. Sterling was at 84.72 pence per euro.
    Sterling has strengthened 4.9 percent in the past three months, according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-market currencies. The euro gained 4.8 percent and the dollar climbed 2.9 percent.


Page 4 of 20 FirstFirst 1234567814 ... LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts