Forex Previews

Forex News – Sterling jumps after BOE meeting

Posted on October 4, 2012 at 11:48 am GMT

Sterling jumped against the dollar and euro after the Bank of England announced its decision to keep interest rates and its bond purchase programme unchanged. The benchmark rate was kept at 0.5 percent and the asset purchase stock at 375 billion pounds. Immediately after the news, GBPUSD surged to 1.6116 from around 1.6106 beforehand, while the euro edged lower to 80.31 pence from around 80.39 pence. The Bank of England opted against expanding its bond purchases since the U.K. economy [..]

Forex News – Sterling falls after weak UK economic data

Posted on October 3, 2012 at 12:26 pm GMT

The British pound weakened further against the dollar and the euro after soft U.K. economic data eroded confidence in the prospect of a sustained recovery in the British economy. Data on Services PMI indicated that U.K. service sector growth slowed in September and services providers shed jobs for the first time in ten months. The service sector makes up a large portion of the UK economy and hence its recovery is quite important for the country’s overall economy . The [..]

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