Tuesday 24th August, sterlings rally is short lived Sterlings rally has been short lived as today sterling dropped versus the dollar  to a one month low after an official of the Bank of England warned that the UK faced a worrying time again and that it could still back into recession. Sterling fell versus the euro, the dollar and the Swiss France but particularly against the Yen. Not a good day for sterling.   Monday 16th August, sterling loses some gains from last week Sterling lost some of its six week high levels versus the euro today. Some weaker house price news had been released by Rightmove which didn't help sterling versus the euro.     Monday 9th August, sterling a bit flat The sterling pound forecast today was a bit flat, initially the pound lost ground v the dollar but then climbed a little. Economic data showed that there was a fall from British industrial output by 0.5% in June which means the forecast of a 0.2% increase have failed to materialise. Concerns also remain on UK inflation rising further. Tuesday 3rd August, sterling hits 6 month high against the dollar Sterling continues to rise against the US dollar reaching a 6 month high today as the UK economy shows good signs of recovery. Wednesday 28th July,sterling hits 5 moths high against the dollar Sterling is still strong against the US dollar, great news for Brits heading to the USA this summer. It hit a 5 month high today after positive UK data gave sentiment for buying sterling a push. The euro hit a three week low against sterling today. Monday 26th July,sterling hits a 3 month high against the dollar Today sterling hits a 3 month high against the dollar as sentiment grew that Europe's economy is improving. In the 2nd quarter of 2010 the UK economy has grown 1.1%, better than many forecasted.  Wednesday 21st July, sterling rallies against the euro Sterling rallied today against the euro but it appears sterling has been weakened by talk from the BofE's monetary committee that the long term economy of the UK is not looking good. The BofE voted by an overwhelming majority to keep interest rates at their current 0.5%. It is likely that following the Bank of England's comments that sterling will fall again in the near future. The pound kept steady against the dollar today. Monday 19th July, Sterling continues to fall   Sterling continued to fall today against the euro reaching midday a 7 week low against the euro. Important economic data will be released this week in the UK and it is forecasted further movement for sterling will be dictated by the news, falling if bad and sterling rising if positive.   Saturday 17th July, Sterling slides against the euro   On Friday sterling hit the lowest level against the euro since June 1st. This caused it to slide against the US dollar too after it had hit a 2 and a half month high versus the dollar just the day before. With the summer here there is reduced tradings which are making the currencies market more volatile than usual as volume of trades are lower.     Monday 12th July, UK's credit rating questioned The UK's credit rating has been questioned and one credit rating company has said that with the UK credit in such a poor state, there is still a danger that the UK could lose its Triple A status. The company said it still felt negative towards the current credit rating as there have not been hard enough cuts made in the UK budget and the economic data coming out is not good enough. As a result it was a bad day for sterling as it fell against the US dollar and the euro. Friday 9th July, the pound down against the dollar The pound was down against the dollar today but climbed a little against its earlier mid weeks lows versus the euro. The Bank of England did not raise interest rates on Thursday, they remain at 0.5%. Tuesday 6th July, sterling makes more gains Investors bought sterling this morning after there were less concerns over the global crisis and more faith in the UK getting to grips with its debts. Early trade saw UK stocks rising 1.5%. It remained unchanged against the euro but technical analysts have forecasted that in the next few months sterling could increase agains the dollar to $1.55. Friday 2nd July, sterling up against the dollar Sterling hit a 2 month high against the US dollar on Friday but it struggled versus the euro. Thursday 1st July, sterling down agains the dollar Sterling lost heavily against the euro this week and this morning it is down versu the US dollar. Monday 28th June, sterling hits one a half year high against the euro Sterling was up on Monday reaching a one and a half year peak against the euro. Investors are feeling that the euro zone problems with their debts will leave the euro zone weaker than the UK and the recent budget has been seen as a positive step to reducing the UK fiscal crisis. The discussion by the Bank of England's policy maker that the tax increases and spending cuts would not mean no movement to interest rates was another boost for the pound. The pound reached just over 81 pence to one euro today. Wednesday 23rd June, Bank of England member feels UK interest rates should go up   Sterling received another boost today following the recent budget. A member on the Bank of England's unit that decides whether interest rates in the UK should go up as come out as saying that he feels they should. Of the eight members only one voted for the rate increase to 0.25% so for now the forecast is that the UK's interest rates will remain low.   Tuesday 22nd June, budget helps sterling towards recovery   The budget has helped sterling vs the euro and the dollar. The market was boosted by better than anticipated news on the rise in capital gains tax and bank levies. It is forecasted that sterling should now increase further against the euro unless a credit agency comes out with negative soundbites for the pound.      Monday 21st June, sterling gains against the US dollar   This morning sterling gained ground against a weaker US dollar.   Friday, 18th June, Sterling eases away from the dollar   Sterling lost ground today after its one month high against the dollar. Concern on the fiscal cuts means investors are wary for now and are waiting for the next budget to see how the pound is affected by the forthcoming budget.       Wednesday 16th June, sterling stays pretty steady News out today showed that less people are claiming jobless benefits and this news helped sterling. It did lose some ground against the US dollar but remained mostly steady/ Tuesday 15th June, inflation news out shortly Economists believe that UK inflation has slowed to 3.5 percent year on year in May from 3.7 percent in April.This keeps it above the Bank of England's 2 percent target for a sixth consecutive month. Sterling this morning remained steady.  Monday 14th June, Sterling hits one month high against the dollar Good news for sterling today with the UK pound hitting a one month high against the US dollar. In total it rose one percent against the dollar. Lower borrowing forecasts and positive sentiment for more risky investments has helped boost sterling at the start of the week. Friday 11th June, Sterling down against the euro After reaching a 19 month high against the euro this morning, by the close of the day sterling had lost heavily against the euro. It also fell against the dollar. The fragile state of the UK economy is still weighing heavily on the pound. Wednesday 9th June, Fitch warning sends sterling down On Tuesday, the warning by Fitch that the UK faced a “formidable” fiscal challenge in the coming months send the pound downwards. Fitch did however not mention any chance that the UK could lose its triple A rating. Fitch warned that with the current economic crisis the UK would need to speed up the plans to dramatically reduce quickly the budget deficit. Sterling gained some of its losses from yesterday today but with the economy blighted and investors waiting for the Treasury to announce the public funding cuts, sterling is likely to remain weak for most of June. Tuesday, June could be bumpy for sterling With the budget due to come out on June 22nd and Cameron priming the UK for huge cuts that will affect everyone, sterling could be in for bumpy ride this month. Although it reached an 18 month high vs the euro yesterday, there is a huge economic crisis for the UK government to deal with and there will need to be some harsh cut backs to pay for it. It is suspected that the growth forecast for 2011 will be downgraded which will not be good for the pound. In May house prices fell by 0.4% and UK house prices look unlikely to make many gains for the rest of 2010. Monday, 7th June, Sterling vs the dollar Sterling fell this morning against the dollar as investors brace themselves for the austerity measures soon to be announced in the UK. The prospect of huge cut backs has put a lot more pressure on the pound. Friday, 4th June, Sterling falls against the dollar Sterling fell agains the dollar on Friday and hit an 18 month high against the euro. In the US the employment situation is improving slowly and for the euro, it was at its lowest level against the dollar for four years. Wednesday, 2nd June, Sterling still up Sterling edged higher against the euro and the US dollar today against good news on the UK housing front that saw prices increase again in May. Only moderate gains for the pound however as the UK's economic data is still not good. Tuesday, 1st June Sterling climbs again Sterling was climbing against the US dollar today and also hit a 18 month high against the troubled euro. Sterling was pushed upwards as it looks unlikely that the UK Prudential will take over the US company it has bid for and also USA and European shares rose which helped risk aversion and the UK pound. Monday, Sterling and the euro claw back some of Friday's losses Trading on Monday 31st May was closed in the UK and New York due to a public holiday, so active trading was low in number, but with the US dollar down, euro and sterling gained. Finch had downgraded Spain's sovereign rating on Friday from Triple A, to Double A plus. Thursday, Sterling up against the euro Today sterling reached an 11 month high against the euro. There are rumours that the take over bid by Prudential of U.S. AIG's Asian business may now no longer be taking place. The company is not giving any comments on the situation. Tuesday Sterling falls 1% against the dollar Today sterling fell 1% against the dollar showing signs once more of risk aversion. Concerns that cut back to reduce the UK debts could also harm the UK economic recovery means that risky assets were being sold. Over the week-end the Spanish Government had to step in to take over troubled bank CajaSur and this has sent alarm bells which has affected the pound over other currencies. Sterling fights back and shows signs of recovery On Friday, 21st May sterling recovered against the previous days lows against the US dollar. However almost 11% has been lost by the pound against the dollar and in 2010 sterling is one of the worst performing top currencies. Sterling falls to a 13 month low against the dollar 18th May, sterling hit a 13 month low against the dollar today and the Chancellor has publicly admitted he has inherited a fiscal crisis and there are hidden liabilities waiting for him on the books. He has forced the Treasury to show that in 2007 and 2008 it vastly underestimated just how much public spending would cost, the effects of this will now be felt as massive debts will now have to be slashed. The deficit is 30 billion pounds worse than expected, the result is bad news for sterling. There is no magic wand, the only hope for sterling is for the Chancellow to move swiftly to cut the debts and for the UK to take it without strikes and unrest. Sterling continues to fall 13th May, sterling fell again against the dollar, although it had gained earlier in the day, as news of the trade deficit was worse than expected. It did however hold steady against the euro. Sterling falls against the dollar 12th May, sterling lost its ground gained earlier this week and fell today against the US dollar. The city joy of at last a Government being formed by the Conservative party lost momentum as news of the UK's poor economic growth and possible rise in inflation took hold. Sterling climbs back against the US dollar 10th May, sterling rallied back agains the US dollar but lost ground against the euro. Euro has been boosted as has sterling by news on the bailout for troubled Greece. Sterling was also boosted by news that the Lib Dems in the UK may side with the Conservative party to help the Conservatives form a new Government, although this is by no means certain. There is a time limit of mid may and at that point if no winning party emerges then another General Election in the UK would have to be called. This would be bad news for sterling. If a winning party with an overall majority emerges in the next few days then the forecast for sterling would be a good one. Sterling tumbles with news of the General Election Overnight sterling tumbled as news of a Hung Parliament became an almost certainty. With 50 seats still not declared at 8.30am, it does now look likely that the UK will have a Hung Parliament. The city had felt that with recent polls the Conservative party would get an overall majority and news of a Hung Parliament sent sterling to the lowest level against the US dollar for over a year. With no clear idea who will be in Number 10 and the focus on fighting for control rather than fiscal control, sterling is forecasted to have a difficult time ahead. Sterling hits an almost 9 month high against the euro, Wednesday 5th May 2010 Good news for the UK pounds as it hit an almost 9 month high against the euro on Wednesday. IT has taken advantage of troubled Greece and the fear that the problems with Greece will spread to other countries that use the euro. Concerns over the euro pushed both sterling and the dollar higher. Sterling falls against the euro on Friday 30th April 2010 Sterling fell against the euro after the euro was supported by plans for a multi billion euro aid package for Greece. As the debate against the 3 potential leaders in the next General Election died down, once again the fiscal problems and debts of the UK were highlighted and a hung parliament is not good news for sterling. If the Conservative party do indeed win the General Election then interest rates are likely to remain low which is also not good for the value of the UK pound. Sterling falls on Wednesday 28th April 2010 Sterling had falls on Wednesday with the focus back on its debts and the likely prospect of a hung parliament. Greece had S and P cut its credit rating to junk status and the fall out could spread. The UK's debts are very large and today investors decided that sterling was not for them and there were high sales. People are concerned that a hung parliament would leave too much debate and uncertainty on how to tackle the UK debts and weak economy