Jim Makos
Business Currency Updates

Sterling Plunges on Unchanged Interest Rates

As the Bank of England decided against an interest rate hike last Thursday, disappointed Sterling backers removed their support on the British currency, letting it slide to new multi-month lows against the Euro last week. Meanwhile, the Eurozone’s currency enjoyed another positive week against the US dollar, despite last Friday’s strong US jobs data. Will...

Jim Makos
Business Currency Updates

Sterling consolidates as Euro makes new multi-year highs

Sterling’s decline paused last week, allowing a glimmer of hope to investors for a much-needed rebound. Euro’s climb, though, continued uncontested for another week, printing new multi-year highs against the US dollar. Can we pick the rally’s top that will probably allow some breathing room to Sterling? Below, we investigate the economic news and the...

Jim Makos
Business Currency Updates

New lows for Sterling due to Euro’s increasing strength

Euro came out stronger after last week’s European Central Bank meeting, which subsequently sent GBPEUR exchange rate to new multi-month lows. Sterling still struggles to reverse its downward course, harmed by anaemic progress in Brexit negotiations. Yet, the driving force for the short-term collapse against Eurozone’s currency has been undoubtedly Euro’s powerful rally rather than...

Jim Makos
Business Currency Updates

Sterling quickly loses last week’s gains

After a remarkable bounce last week, Sterling’s exchange rate against Euro has already taken a dive at the start of this week. Following a strong ending that pushed GBPEUR from 1.12 to 1.14 last Friday, Pound is trading below 1.13 Euros this morning. Meanwhile, Euro is climbing on Tuesday after a minor pause in its...

Jim Makos
Business Currency Updates

UK disappointing data hits Sterling

After a series of disappointing economic data releases last week, Sterling suffered significant losses against the Euro. As the UK economy continued to show poor signs for growth, GBPEUR exchange rate plunged to the 6-month support level once again. Euro, meanwhile, managed to avoid a correction during its recent rally in its fight against the...

Jim Makos
Business Currency Updates

Sterling Stalls against Euro on Banking Talks

It was a week for banking officials to set the tone of the market. First came European Central Bank’s President, who hinted at the end of quantitative easing and higher interest rates, boosting Euro exchange rates worldwide. Then Bank of England’s Governor followed up with a similar message for rate hikes due to UK’s rising...

Jim Makos