The pound sterling posted today its biggest drop against the U.S. dollar since May 7 as the speculations that Bradford & Bingley Plc, the largest mortgage lender in U.K., will have to raise more capital, indicated a worsening in the real estate market crisis.
The Great Britain pound rose today against the U.S. dollar and the euro, partially recovering its losses from the last week, as the record high PPI growth added confidence that the Bank of England will not lower interest rates next time.
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.
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 U.S. dollar continued its weekly decline today, as the market participants awaited the results of the European Central Bank and the Bank of England monetary meetings.
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.