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The Pound Sinks Further
Comments
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Pound Slumps on Budget Cutting, ‘No Honeymoon’ for Coalition
LinkThe pound fell against all of its most-traded counterparts on speculation the U.K.’s economy may struggle to grow as the new coalition government focuses on cutting the budget deficit. Sterling dropped toward its lowest level against the dollar in more than a year and fell versus the euro as reports showed consumer confidence failed to recover in April from the biggest drop in almost two years in the previous month and Britain’s trade deficit widened in March.
“There appears to be no honeymoon period for the U.K.’s new coalition government,” BNP Paribas SA analysts including London-based Hans-Guenter Redeker wrote in a research note today. “The U.K. data has provided little comfort.”
UBS are predicting $1.35 by the way.0 -
US$ 1.455....
I want all the world to see
To see you're laughing
And you're laughing at me....Down down deeper and down....
With thanks to the Quo!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
06:42 14May10 Cable rise tempered by the uncertainty of UK debt reduction plan
05:42 GMT - [GBP/USD] rose from an intraday low around the 1.4585 level during
the Australasian session to an intraday high around 1.4640 in sympathy
with a recovery in the Eur/Usd from 1.2520 to 1.2555/60 level. However,
the dovish BOE inflation report along with the lingering uncertainty on
whether Chancellor of the Exchequer Osborne can reduce the huge UK debt
without causing the UK economy to stall will continue to temper any upside
in the pair over coming days/weeks. Earlier buying and seling orders will
continue to keep the range ahead of the European session.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
now down to 1.4545Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
Ready to breach 1.450 (1.4508 currently)? FTSE down nearly 2%There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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worldtraveller wrote: »Ready to breach 1.450 (1.4508 currently)?
11:01 14May10 GBP/USD: Huge 1.4500 Option Expiry Exerting Magnetism
[10:01 GBP/USD: Huge 1.4500 Option Expiry Exerting Magnetism]
LONDON, May 14
The estimated GBP 1.5bn 1.4500 option expiry for today"s 10am ET NY cut(14:00GMT) is exerting magnetism over cable, with 1.4507 marking the one-weeklow-to-date. 1.4475 (last Friday"s 13-month low) and 1.4450 are sub-figuresupport points.
A French bank predicts that the BoE may resume its bond-buying program in August (Bloomberg website). The MPC "paused" its GBP 200bn QE Asset PurchaseProgramme in early February, after spending the last of the money in late January. The APP was launched (with GBP 75bn) in March 2009, alongside a Bank Rate cut to 0.5%. Bank Rate has been unchanged since then. A UK clearer nowexpects Bank Rate to be held at 0.5% "at least until February" next year, havingpreviously forecast a hike in August (Bloomberg). This follows Wednesday"s dovishquarterly BoE Inflation Report.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
bounced right off that 1.45 line, and up to 1.4550 nowPlease take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
inspector_monkfish wrote: »bounced right off that 1.45 line, and up to 1.4550 now
Yup, noticed that, right at 1.4500 for about 2 minutes, then north again.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
13:42 14May10 GBP/USD: Recovers Onto 1.46-Handle, 1.4640 Overnight High Above
LONDON, May 14
Cable has recovered back onto the 1.46-handle in the aftermath ofthe US Retail Sales data, with a sustained push above the figure returning the focus to the overnight highs up at 1.4640. Elsewhere, EUR/GBP found support into0.8550 into the North American open to slow the rate of the cross descent butoffers still line up onto the .86-handle to keep the topside capped the risk skewed towards a retracement to .8500.Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0
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