Pound falls after Bank Governor’s Newcastle visit

On Wednesday the governor of the Bank of England, Mervyn King, came north and the exchange rate went south. It was his first visit to Newcastle for several years and occurred after transport links with the capital had been recently re-established. In an interview with Newcastle’s Journal newspaper, Mr King said: “That rebalancing of the UK economy that I have … Continue reading

Posted by Nigel Tree | Comments Off on Pound falls after Bank Governor’s Newcastle visit

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