Gross Domestic Product for UK at 0.5%
Wednesday, 25 May 2011 12:25
British Gross Domestic Product grew by 0.5%, remaining at the same pace as previous releases. The news initially dropped the currency versus the Dollar, slowly recovering to climb at its currenct point of 1.6183.
Read MoreFurther ‘negative’ outlook for Sterling
Tuesday, 24 May 2011 12:06
UK Data was released with higher than expected results, which this time not good news for the currency. Public Sector Net Borrowing was released at 7.7 billion from being forecasted at 5.0 billion. It would have marked good news for the English currency if the forecasted number was greater than the actual number released.
Read MoreU.K on ‘negative’ outlook by Chinese rating firm
Tuesday, 24 May 2011 11:19
Moody’s Investor Services placed 14 U.K financial institutions in for reviews; such as Lloyds TSG, CO-OP bank, RBS, Santander UK Plc etc. Possible downgrade is imminent. Meanwhile, China’s rating firm (Dagong Global Credit rating) pushing the United Kingdon off by a notch from Aa- to A+.
Read MoreEuro losing strength
Monday, 23 May 2011 05:05
The Euro stripped down to a new two-month low, below the 1.40 zone, hitting 1.3968 earlier today versus the Dollar. Later on through the day, the Euro was trading steadily against the U.S Dollar along the lines of 1.40-41, currently lining in 1.4000.
Read MoreU.K meeting minutes vote of keeping interest rates on hold
Wednesday, 18 May 2011 12:36
News just in by the Bank of England, Minutes of the Monaterly Policy Committee meeting voted 6-0-3 to keep interest rates steady on hold for the ongoing month.
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