Dovish MPC Minutes Adds to the Pressure on UK Yields

The pound has recorded a split performance this week. It fell against the low yielding currencies (Japanese yen, US dollar, euro and Swiss franc) and rose against the commodity currencies (Canadian, Australian and New Zealand dollars) and the Swedish krona. GBP/USD closed the week at $1.6519, pulling back from the…

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International Financial Outlook September, 2009

Selling pressure on the dollar remained in August, as the US economic recovery lagged that of Germany and France, and even Japan. Sterling moved like the US dollar in the last month, with the pound sagging a little against the euro, but gaining versus the US currency. There are increasing…

Sterling Suffers On Dollar Rebound

There have been very few newsworthy events in today’s session, and even the handful of scheduled speakers lined up had very little effect on FX markets. The only driver therefore has been the performance of global equity markets; and with both European and US indices in negative territory, the USD…

Global Markets: The Great Dissipation – One Year on from Lehman

One year has passed since Lehman Brothers folded, and the global economy has begun to recover. The decision by policy makers to met-out discretionary punishment to some financial firms and not others transformed a financial crisis into a global run on the bank, raising the cost of stabilizing both the…