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Day: April 20, 2011
April 202011
Pound Down vs. Euro, Up vs. Dollar & Yen on BoE Minutes
The Great Britain pound weakened today against the euro as investors reduced their bets on an interest rates hike after the release of the policy meeting minutes by the Bank of England. The currency gained versus the US dollar and the Japanese yen as the minutes pointed on some positive signs in Britain’s economy. The Minutes of the Monetary Policy Committee Meeting spoke about unfavorable economic data that shows weakness of the UK economy. In particular, the consumer spending weakened as the household […]
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April 202011
EUR/USD Goes Higher, Refusing to Look at Fundamentals
EUR/USD erased previous losses and advanced to the highest level since January 2010 today as investors continue to bet that the European Central Bank will raise its key lending rate on the next policy meeting. The fundamentals remain unfavorable for the euro as the producer prices in Germany, the healthiest economy in the European Union, rose only 0.4 percent on month-on-month basis in March, while a two times bigger growth by 0.8 percent was predicted by forecasters. […]
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April 202011
Swedish Krona Surges to 2.5-Year Record on Higher Rates
The Swedish krona jumped to the highest level in more than two and a half years after the central bank raised the interest rates to slow the inflation. The Riksbank, the Swedish central bank, increased its target rate by 25 basis points to 1.75 percent, in line with forecasts. The bank maintained its rates outlook at the average 2.5 in the first quarter of 2012 and 3.2 percent in the first quarter of 2013. The central bank estimated that Sweden’s economy […]
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April 202011
Rand Jumps on Expectation of Higher Interest Rates
The South African rand climbed today on the speculation that the accelerating inflation will prompt the nation’s central bank to increase the borrowing costs. Reserve Bank Deputy Governor Daniel Mminele said that data shows an “accelerating trend” in the food prices. He added that influence of higher food and fuel prices on prices for other goods “need to be monitored very closely”. The government report about the inflation will be released today. […]
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