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Jul 30, 2012

Sterling eases against dollar, but outperforms euro

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro as
investors anticipated European Central Bank measures to prop up
the faltering euro zone and also looked to Thursday’s Bank of
England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5696, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 30, 2012

Sterling eases against dollar as euro slips

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro, as
investors awaited details on European Central Bank measures to
rescue the faltering euro zone and looked forward to Thursday’s
Bank of England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5699, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 30, 2012

Sterling eases against dollar as euro slips

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro, as
investors awaited details on European Central Bank measures to
rescue the faltering euro zone and looked forward to Thursday’s
Bank of England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5699, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 27, 2012

Euro’s bounce fizzles, U.S. GDP awaited

LONDON, July 27 (Reuters) – The euro fell on Friday,
retreating from a two-week high against the dollar, as investors
sold into its recent rally on fresh doubts about whether the
European Central Bank would take bold measures to tackle the
sovereign debt crisis.

A pledge by ECB President Mario Draghi on Thursday to do
whatever it takes within the bank’s mandate to preserve the
euro, had propelled the common currency to a two-week high of
$1.2330.

Jul 27, 2012

Euro takes breather after Draghi sparks short-covering

LONDON (Reuters) – The euro fell on Friday, retreating from a two-week high against the dollar, as investors sold into its recent rally on fresh doubts about whether the European Central Bank would take bold measures to tackle the sovereign debt crisis.

A pledge by ECB President Mario Draghi on Thursday to do whatever it takes within the bank’s mandate to preserve the euro, had propelled the common currency to a two-week high of $1.2330.

Jul 26, 2012

Euro surges against dollar on Draghi pledge

LONDON, July 26 (Reuters) – The euro jumped against the
dollar on Thursday, reversing earlier losses, after European
Central Bank chief Mario Draghi said the bank would do whatever
it takes to preserve the single currency.

The euro rose 1 percent to a one-week high of
$1.2288, taking it well above a low of $1.21178 touched earlier
in the session.

Jul 25, 2012

Euro up on ESM comments but more weakness seen

LONDON (Reuters) – The euro rallied broadly on Wednesday, recovering from a two-year low against the dollar after a European Central Bank policymaker said he could see grounds for giving the euro zone bailout fund a banking license.

The comments from Ewald Nowotny prompted a flurry of short-covering as the euro jumped higher, with some investors who had earlier bet against the single currency being squeezed out of those positions.

Jul 24, 2012

Sterling firms after European, US data; awaits GDP

LONDON, July 24 (Reuters) – Sterling firmed against the euro
and the dollar on Tuesday after weak manufacturing data in the
euro zone and the United States, though investors were cautious
before Wednesday’s second quarter UK economic output data.

The euro zone’s private sector shrank for a sixth successive
month in July, according to purchasing manager data, making it
increasingly likely the bloc will slide back into recession,
while U.S. manufacturing activity expanded at its slowest pace
since late 2010.

Jul 24, 2012

Sterling steadies, eyes on Wednesday’s GDP data

LONDON (Reuters) – Sterling held steady on Tuesday after falling nearly 1.5 percent against the dollar since late last week as investors looked to Wednesday’s second quarter GDP data for further direction.

The pound was flat against the dollar at $1.55.

The UK currency also steadied against the euro though analysts said it was poised for further gains following below-forecast euro zone economic data.

Jul 23, 2012

Sterling down on euro zone woes as dollar shines

LONDON, July 23 (Reuters) – Sterling touched a week-low
against the dollar on Monday, pulled down by weakness in
euro/dollar as worries over Spain and Greece’s debt problems
drove investors to seek sanctuary in the greenback and avoid
perceived riskier currencies.

The pound dropped further after Spain and Italy announced
bans on short selling of financial stocks, aimed at discouraging
speculative trading that could weigh on the countries’ banks and
insurers.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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