The Great Britain pound continued its growth against the euro and the U.S. dollar today, even after the housing prices fell again and the chances fore more interest rate cuts by the Bank of England went up.
Great Britain pound fell down to a new absolute minimum level against the euro today as the fresh economic data from U.K. signaled that the output growth will probably slow down significantly.
Both Bank of England and the European Central Bank acted as expected today during their monetary policy meetings — BoE cut the interest rate to 5.00% and ECB left them unchanged at 4.00%.
The Great Britain pound fell sharply today against dollar, euro and yen as the house prices fell in March by 2.5%, indicating that the country’s mortgage market slump is not over yet.
The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March.
The commentary on the current account deficit in United Kingdom pulled the Great Britain pound down today, as it added one more reason for the British currency to be less favored by the Forex trading institutions.
The Great Britain pound fell to its lowest historical value against the euro today after the pessimistic economic news were released in UK. Pound also lowered against other major currencies today.
Great Britain pound continued its almost a week long rally against the currencies of Eurozone, U.S. and Japan, as the traders believe that the Bank of England will turn its head to inflation rather than the lack of the financial liquidity.
Today the Great Britain pound started to recover from the week-long losses against the other major currencies, such as the U.S. dollar, euro and the Japanese yen.
Today two important interest rates decision were highly anticipated by the markets — the monetary policy decisions by the European Central Bank (ECB) and the Bank of England (BoE).