Sterling, economic growth and interest rates

One immediate effect of the 0.8% rise in UK economic growth during the third quarter, which was announced yesterday, was an upward valuation in sterling. The pound rose by about 1.5 cents against the dollar and stands at $1.5814 this morning, according to Reuters. The pound has now risen by almost 2 cents this week. The story is the same … Continue reading

Posted by Nigel Tree | Comments Off on Sterling, economic growth and interest rates

Pound rises to its highest value against dollar for 10 months

At one point yesterday sterling rose to $1.6850 against the dollar – its highest level since the middle of October 2008. Although this is still well down on the $2 to the pound level seen last July, it does mean that the pound has risen by a quarter since January 2009. Sterling also rose against the euro to its highest … Continue reading

Posted by Nigel Tree | Comments Off on Pound rises to its highest value against dollar for 10 months

Sterling breaks $1.60 barrier

Yesterday the pound strengthened to $1.60 for the first time since November last year. This follows the pound sinking to $1.36 in January, which was the lowest level for over twenty years.   Why did sterling rise? The dollar is normally seen as a sanctuary in times of global turmoil but there has been some sentiment in the markets that … Continue reading

Posted by Nigel Tree | Comments Off on Sterling breaks $1.60 barrier

Pound on course to reach parity with the chocolate button

The pound reached a six-week low against the dollar yesterday under increasingly volatile conditions in the financial markets. In fact, the pound fell by nearly 3% to reach $1.38. This is only just above the 24 year low of $1.35 which was reached in the middle of January. Some commentators believe that sterling will fall even further than this. The … Continue reading

Posted by Nigel Tree | Comments Off on Pound on course to reach parity with the chocolate button