Sterling gains after BOE leaves monetary policy unchanged

October 10, 2013

The currency in focus during the European session was on the sterling because of the Bank of England policy announcement.

The British pound rose after the Bank of England kept its monetary policy unchanged as expected, leaving the key rate at a record low 0.5 percent and the asset purchase program at GBP 375 bln. 

The UK economy has shown signs of further recovery this month, which lessens the prospect of more asset purchases (This is good since bond buying tends to weaken the value of the currency).

GBPUSD rose to $1.5970 from an earlier low of $1.5916.

The Euro gained against the US dollar today as general risk sentient in the market was up on optimism that the US debt ceiling talks will progress after news that the two parties in Washington have agreed to get back to negotiations. 

It is hoped that a deal will be reached before the October 17 debt ceiling will be reached, and thus a resolution will help avert a default by the world’s largest economy.

The dollar gained against the yen and peaked at 97.88 yen in the European session today. As the US session came around, the USDJPY fell after some disappoint US jobless claims data, bring dollar back down to 97.59.

The number of Americans filing for unemployment claims leaped by 66,000 to 374,000 claims, the highest level in six months.

Publication source
FxNet information  FxNet reviews

October 25, 2016
US flash Markit PMI jumped 1.7 points to 53.2 in October
Asian stock markets are mostly down, as the positive confidence indicators out of Europe and the U.S. yesterday were overshadowed by weak GDP numbers from South Korea, which weighed on most markets. Topix and Nikkei outperformed, with a weaker Yen underpinning exporters...
October 25, 2016
Fed speech, flash PMI push dollar to a fresh 8-month high
Marking the final day of Fed speeches ahead of the one-week blackout period starting today, FOMC voting member, Bullard said that December was most likely for a rate hike...
October 25, 2016
M&A activities drove equities, focus shifts to earnings
Equity markets began the week on a positive note with M&A activities, positive earnings, and better than expected manufacturing data from the Eurozone and U.S. all boosting appetite to risk...

Vantage FX Rating
Fort Financial Services Rating
XM Rating
HotForex Rating
Larson&Holz IT Ltd Rating Rating

Beeoptions Rating
Porter Finance Rating
IQ Option Rating
Anyoption Rating
24option Rating
TopOption Rating