Euro Rises before Christmas
Monday, December 24th, 2007
The euro rose against all other major currencies today spurred by the carry trading optimism and weakness experienced by the Great Britain pound and the U.S. dollar.
British Pound Declines for a Third Day
Thursday, December 20th, 2007
Pound sterling is experiencing a continuous downfall that started more than a month ago in earlier November. GBP/USD has lost more 5.8% since November 9 - when it reached its maximum value in many years.
Bank of England Cut Rate by 0.25
Thursday, December 6th, 2007The Bank of England’s Monetary Policy Committee today decided to reduce the official interest rate paid on commercial bank reserves by 0.25% from 5.75% to 5.5%. The decision was driven mainly by the slowdown in the economical output and moderating consumers’ spendings.
Great Britain Pound Falls on Rate Cut Expectation
Wednesday, December 5th, 2007Great Britain pound reached its two month minimum value against U.S. dollar today under the pressure of an interest rate cut during tomorrow Bank of England rates decision. GBP/USD touched 2.0353 level - the lowest since October 23.