It was quite a week for the euro. The single currency was already on the back foot last Friday and it lost further ground this week.
It would be nice to say that sterling did well in the first half of July. It would be more accurate, however, to say the Euro did badly. In little more than a fortnight the pound climbed from a 16-month low
Euro zone politicians are doing their level best to put on a brave face about Greece’s predicament. Prime minister Papandreou deliberately subjected himself to a parliamentary vote of confidence,
Sterling had a less expensive April than the three and a half euro cents it had managed to mislay in March but it was still a losing month,
February was the ultimate game of two halves for sterling. Contrary to our prediction here a month ago its performance was almost an exact replica of January’s boom and bust. The pound strengthened almost to €1.20
Sterling spent the last month moving ahead against the US dollar and falling back against the euro. Against the Japanese yen it is all but unchanged. Investors seem to prefer the pound to the dollar
On 27 August the Office for National Statistics published its first revision to the performance of Britain’s gross domestic product (GDP) for the second quarter of the year. The initial estimate of 1.1% growth had looked pretty good.
Sterling still in limbo after indecisive election. US stock market volatility spreads to currencies. Latest EU rescue package broadens the safety net beyond Greece and allegedly wins German support.
Having spent the previous month heading south the pound continued lower during the first half of October.