Exchange Rate Forecasts

October, 2008

The Pound declines for a second consecutive day against the Dollar as traders appetite for risk aversion returns to the market

Friday, October 17th, 2008

The Pound declined for a second consecutive day against the Dollar, dropping to a low of $1.7137 in early trade with UK stocks plunging a further 7% as a rising element of risk aversion stalked the market and traders become sceptical that the unprecedented injection of liquidity would fail to restore confidence to the banking [...]

The Pound declined against the Dollar after global stocks plunged on concerns that injection of liquidity will not be enough to avoid a recession

Thursday, October 16th, 2008

The UK stock market plunged almost 8% yesterday, declining for the first time in three days, amid concerns that the injection of up to $2 trillion in liquidity will not be enough to resurrect the world banking system and bolster economic growth. The slump in global stocks led to an increased appetite for risk aversion [...]

The Pound rallies for a second day against the Dollar as risk appetite returns to the market

Wednesday, October 15th, 2008

The U.S Dollar plunged for a second day yesterday as the return to risk appetite drained demand for ‘safe haven’ assets and the Pound recorded its biggest two day gain against the greenback in more than three years as UK stocks advanced before falling back into negative territory by the close of trading last night. [...]

The Pound rallies by the most in a month against the Dollar following the UK government rescue of Royal Bank of Scotland

Tuesday, October 14th, 2008

The Pound rallied by the most in over a month against the Dollar yesterday, while the UK currency also made gains versus a basket of currencies, including the Euro, following reports that the UK government intervened with a £37 billion rescue package to save the Royal Bank of Scotland, HBOS Plc and Lloyds TSB Group. [...]

The Pound declines to a five year low against the Dollar as the extreme volatility sweeping through financial markets shows few signs of abating

Monday, October 13th, 2008

Following on from last week, the exceptionally turbulent market conditions continued on Friday as global stock markets plunged and the Pound dropped to the lowest level against the Dollar in almost five years despite the announcement of UK rescue package and a coordinated round of interest rate cuts from six leading central banks. The unprecedented [...]

The Pound declines against the majors, dropping to the lowest level in almost three years versus the Dollar amid speculation of further rate cuts

Friday, October 10th, 2008

The Pound revered earlier gains against both the Euro and the Dollar yesterday as the UK currency actually fell under $1.7100 versus its U.S counterpart last night, dropping to the lowest level since December 28th 2005, amid speculation that the Bank of England will cut interest rates from the current 4.5% following a 50 basis [...]

The Pound declines against the majors after the Bank of England cut interest rates by 50 basis points, along with the Federal Reserve and ECB

Thursday, October 9th, 2008

The Bank of England, the European Central Bank and the Federal Reserve, along with four other central banks, elected to lower interest rates in an unprecedented coordinated effort designed to ease the turmoil that has engulfed financial markets and brought about the worst crisis since the Great Depression. The emergency announcement saw policy makers slash [...]

The Pound declines against the Euro and the Dollar after UK industrial production contracts for a sixth straight month

Wednesday, October 8th, 2008

The Pound declined against both the Euro and the Dollar yesterday and the UK currency also relinquished some of the previous day’s gains versus a basket of currencies following reports that UK industrial production contracted for a sixth straight month in August. According to a report from the Office of National Statistics, UK manufacturing output [...]

The Euro declines against the majors amid speculation that another European bank will need a government bailout

Tuesday, October 7th, 2008

The intraday volatility sweeping through financial markets saw the Pound register sharp losses against the Dollar yesterday as the UK currency also fell to the lowest level in five years versus the Yen as the credit crisis deepened in Europe and investors sought the security of lower yielding assets in Japan. As a result, the [...]

The Pound rallies above 1.2900 versus the Euro despite speculation that the Bank of England will cut interest rates by 50 basis points this week

Monday, October 6th, 2008

Following on from last week, the Pound declined by the most in a week against the Dollar since the end of the last recession in 1992 amid reports that UK service sector growth contracted by the most in at least 12-years, increasing speculation that the economy may already be in a recession and the Bank [...]


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