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China – Renminbi moves closer to reserve status
While the rest of the world licks its wounds from the self inflicted economic debacle of recent years and forces austerity and cuts on its people, China has not only taken a large step towards making...
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The US dollar under attack
Not only are investors getting out of the US dollar in favour of just about any other currency they can get their hands on, even hedge funds are lining up to bet against it. According to the Telegraph...
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UK Warned as Global Money Launderers Turn From Dollar To Renminbi
Consequences for UK authorities, as London becomes international clearing and settlement centre for RMB The money laundering crackdown on banks globally being led by US authorities will see financial...
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Pound trends higher after remarks by MPC member Kristin Forbes
Daily Currency Update Pound Sterling Remarks from Monetary Policy Committee (MPC) member Kristin Forbes sent the Pound trending higher on Monday. The BoE official warned that keeping borrowing costs at...
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Sterling softer prior to release of CPI figures
Daily Currency Update Pound Sterling Ahead of the release of the UK’s Consumer Price Index the Pound was trending in a slightly softer position against a number of its currency rivals. The asset...
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UK CPI Sends Sterling Higher
Pound Sterling (GBP) Exchange Rate Bullish after UK Inflation Rises After falling against peers like the Euro and US Dollar last week as the UK’s latest employment figures disappointed expectations,...
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UK Consumer Prices Index Boosts the Pound
Daily Currency Update Pound Sterling Sterling romped higher across the board on Tuesday as investors responded enthusiastically to a stronger-than-anticipated UK Consumer Price Index. As both the core...
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Euro rallies after German vote for third Greek bail-out
Daily Currency Update Pound Sterling With UK data lacking and the positive impact of Tuesday’s better-than-forecast British inflation print fading, the Pound pared gains against its major rivals over...
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Tsipras resignation seen as Euro-friendly event
Daily Currency Update Pound Sterling Ahead of the release of the UK’s public finance figures the Pound was trending in the region of 1.39 against the Euro and 1.57 against the US Dollar. Sterling...
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Pound falls to two month low against the Euro
Daily Currency Update Pound Sterling Although the UK’s government spending data printed fairly positively on Friday, with a surprising surplus of 1.3 billion Pounds being recorded, the Pound put on a...
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Traders will remember 'Black Monday' for a long time
Daily Currency Update Pound Sterling Traders will remember Black Monday for a long time and the repercussions from the extreme slump in global stock markets continued to be felt on Tuesday. While the...
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Euro was one of the winners from ‘Black Monday’
Daily Currency Update Pound Sterling After advancing against the Euro and holding above a key technical resistance level against the US Dollar for much of yesterday, the Pound declined against both of...
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‘Black Monday’ Rocks the Currency Market
Pound Sterling (GBP) Exchange Rate Puts on Mixed Performance in Quiet Data Week After initially surging last week on the back of a slightly better-than-forecast UK inflation report, the Pound pared...
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US Dollar Advances as Data Exceeds Expectations
Daily Currency Update Pound Sterling UK Housing data might have surprised to the upside yesterday but the Pound suffered as Bank of England (BoE) interest rate hike expectations were pushed back beyond...
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Pound failed to rally despite good GfK Consumer Confidence Index
Daily Currency Update Pound Sterling Although the UK’s GfK Consumer Confidence Index impressed, with the level of sentiment unexpectedly climbing from 4 to 7, the Pound failed to rally and remained...
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Euro rallies as Eurozone CPI forecasts are beaten
Daily Currency Update Pound Sterling Friday’s UK GDP report confirmed sturdy quarterly expansion of 0.7% in the three months through June but the data lent the Pound little support as the result was...
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US Dollar Fluctuates on Mixed Domestic Data Results
Daily Currency Update Pound Sterling After Tuesday’s domestic data revealed British manufacturing growth slowed in August, despite predictions output would expand, the Pound Sterling declined versus...
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Pound Softens on UK Construction PMI Data
Daily Currency Update Pound Sterling Wednesday’s British data showed construction growth failed to meet with market projections. August’s UK Construction PMI was predicted to advance from 57.1 to 57.5,...
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Pound slumps on disappointing economic data
Daily Currency Update Pound Sterling Thursday’s British economic data produced yet more disappointing results which caused the Pound to slump versus its major peers. The UK Services PMI came in at 55.6...
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Sterling dropped to a four-month low against the US Dollar
Daily Currency Update Pound Sterling Thursday’s dire UK Services PMI served to push back Bank of England (BoE) interest rate hike expectations and reduce demand for the Pound towards the tail end of...
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