Daily FX Commentary
This report has been deactivated

0

0
Daily FX Commentary
Wed, Oct 8 2008, 10:44 GMT
Investica Ltd
Bank rescue underpins Sterling
Sterling weakened sharply in Europe on Tuesday as there were renewed fears over the UK banking sector with particular fears surrounding the Royal Bank of Scotland. The UK currency dipped to lows near 1.73 against the dollar before a rebound.
The market turmoil will increase fears that the already very weak UK economy will deteriorate further. There will be very strong pressure on the Bank of England to act this week with markets increasingly speculating over at least a 0.50% rate cut on Thursday.
The government confirmed that it would announce a package of support for the banking sector including capital injections through government stakes in the main banks while there would be additional funding to boost inter-bank lending.
Measures to boost capital will underpin confidence to some extent, although sentiment towards the financial sector, economy and currency will remain very fragile on deep recession fears. Sterling dipped to near 1.74 against the dollar and 0.7830 against the Euro on a wider increase in risk aversion as market fears increased.
Published on
Wed, Oct 8 2008, 10:45 GMT
Archive
- Daily FX Commentary
Published On Mon, Apr 20 2009, 13:05 GMT
- Daily FX Commentary
Published On Tue, Apr 14 2009, 14:16 GMT
- Daily FX Commentary
Published On Wed, Apr 8 2009, 13:09 GMT
- Daily FX Commentary
Published On Fri, Apr 3 2009, 11:47 GMT
- Daily FX Commentary
Published On Mon, Mar 30 2009, 15:36 GMT
[ View All ]
Investica Ltd
http://www.investica.co.uk | tim.clayton@investica.co.uk
Legal disclaimer and risk disclosure
Investica's market analysis is not investment advice and must not be taken as recommending particular market positions. Investica can take no responsibility for any actions taken by investors.
Related reports
Economics Weekly - Are UK equities overvalued? by Lloyds TSB Financial Markets
Mon, Nov 23 2009, 10:16 GMT
The Trading Week - The Trading Week: Nov. 23 - Nov. 27 by AllThingsForex
Sat, Nov 21 2009, 16:33 GMT
Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT
Friday Notes - Rising inflation rates once again, but no inflationary pressure at all! by UniCredit Group
Fri, Nov 20 2009, 13:03 GMT
Morning Report - US Philadelphia Fed index rises from 12 to 17 in Nov by Westpac Institutional Bank
Fri, Nov 20 2009, 05:56 GMT
boe, eur, markets, uk, gbp
View All
Related content
Distressed Sales Of Global Commercial Property Up In 3Q - RICS
Dow Jones | Tue, Nov 24 2009, 00:01 GMT
Forex: Dollar falls on Monday; Stocks rally in Wall Street and Europe
FXstreet.com | Mon, Nov 23 2009, 21:58 GMT
IMF: UK Government Economic Support Should Continue For Some Time
Dow Jones | Mon, Nov 23 2009, 10:49 GMT
UK Recession Is Catalyst For Decade Of Business Change -CBI
Dow Jones | Mon, Nov 23 2009, 00:16 GMT
Forex: EUR/USD rebounds at 1.4875 and falls to 1.4835
FXstreet.com | Fri, Nov 20 2009, 18:33 GMT
boe, eur, markets, uk, gbp
View All
Francesc’s Weblog » Brown urges business leaders to accept Tobin tax
Mon, Nov 23 2009, 12:08 GMT
FX Market Readings » Volatility is over
Thu, Nov 5 2009, 16:28 GMT
Francesc’s Weblog » New Highs in the European Central Bank and Bank of England Interest Rates Decision Live Coverage
Thu, Nov 5 2009, 16:26 GMT
FX Market Readings » expected market moves before and after BOE and ECB rate announcements events
Thu, Nov 5 2009, 11:34 GMT
The Advisor Weblog » BOE and ECB Live coverage
Thu, Nov 5 2009, 11:20 GMT
boe, eur, markets, uk, gbp
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.