Currency Line» Dan Wright

Dan Wright — Tue, 23 Jun 2009 15:32:47 +0000

Sterling weakness – where do we go from here??Sterling has had a terrible day on the markets, bouncing back from a 7 month high against a basket of major currencies. Hopefully this is a minor blip on the road to recovery but the ‘w’ shaped recovery is starting to enter ones mind again!

Interest rate decisions!!!!!

Dan Wright — Thu, 07 May 2009 11:05:06 +0000

The BOE has just left interest rates on hold as expected although Sterling has lost groiund against the Euro following announcements that the economy is fragile….

Lets see what the ECB decision brings, expected is a 0.25% cut and some sort of extra measures to be announced to battle the economic problems… I think they may surprise us and the GBP – EUR rate will be above 1.14 before the end of trading today……….

U.K GDP DATA

Dan Wright — Fri, 24 Apr 2009 08:20:31 +0000

This morning sees the release of U.K GDP data and I personally believe that Sterling will once again have a day to forget on the markets….

At the time of writing this we have already lost 1.15% which isn’t a great start to the day…. lets see what 9:30am brings???

Mr Darling’s days must surely be numbered should we see a huge shrink in the economy… I think he may well need to see a shrink should this occur!

Frankie..

Alistair Darling – The Budget…

Dan Wright — Wed, 22 Apr 2009 17:01:43 +0000

As per usual Alistair Darling has decided to open his mouth and hey ho the bottom falls out of the Pound!

I seemed to know this morning that Sterling would have a terrible day and by the look of it I won’t be disappointed….. It just seems that every time our Darling chancellor makes any sort of comment it hits us hard – I may have to start putting money on it!!!

With tommorow a seemingly quiet day data wise for the U.K I really do wonder whether or not the Pound will gain back some of its losses or if this is the calm before the storm???

Any thoughts would be much appreciated!

Frankie…

Dollar Slides After US Fed Plan

Dan Wright — Thu, 19 Mar 2009 18:27:29 +0000

The news that moved markets today, continuing from Wednesday evening, was that the US Federal Reserve is implementing its own quantitative easing proposal.

This immediately shook the dollar, which dropped against all major currencies, namely 3 percent against the Euro and 2 percent against sterling.

It will be interesting to see how much markets react to Ben Bernanke’s speech about the financial crisis tomorrow.

The run on the dollar continued where sterling appreciated massively by another 2 percent, realising a mid-market rate of above 1.45 against the dollar. Pretty respectable considering the current state of affairs in the UK! In just over 24 hours, sterling had appreciated 7 cents from a low of 1.38!