Pound Vs Euro and US Dollar Currency Forecast: Results are bringing much-needed stability and momentum back to the market.
The trend is positive. The pound is holding its ground. It is a sign of relief for all those who were holding their breath out while making all sorts of assumptions about the near-future activities taking place around. The pound advanced and several expectations have been met on its way to gain an upper hand over its major counterparts. The news broke out when Bank of England announced its decision of increasing the rates. It became an occasion to celebrate the event with U.S Federal Reserve has again confirmed that they are going to keep the rates to its lowest level, it is closest to zero (zilch). People were feeling wee anxious as not much was going in their favor after last week’s decision of policy makers to keep the rates unchanged. It goes without saying that even market experts were under immense pressure following the count of votes rated as 6 to 3, which was surely not predicted by any of them. It raised alarming bells all over the market place.
It is confirmed news and everybody is highly excited over the fact that earlier we had achieved $1.67 mark to break the previous set record after a long wait of a year-and-half or so. It is a continuation of the good work done and another step taken in the same direction. The day’s proceeding came to an end with 0.2 percent advance made and monthly figures show the total advance of 3.9 percent. There is another point to be mentioned and is relatively important irrespective of its down-falling movement in the last five consecutive days. Sterling is losing its sheen versus the euro to 88.91 pence. We need to sit down and check the monthly statistics in order to find the exact data and results achieved in the process. It gained 0.8 percent in the market.
The dollar-pound exchange rate results were more than satisfactory over here. The market has shifted its focus to the news that Federal Reserve would not be in hurry to increase the rates as early as first quarter of the next year. Amongst the other important news, the U.K. Debt Management Office made an announcement of selling 167.5 billion pounds of debt this fiscal year. The UK currency is on the right track to build a stronger base for next level of activities to take place. The market reports show an impressive set of results and customers are again looking to do what they are best at. Gilts have also shown positive results given the kind of progress made in comparison to other major players in the industry. It is moving upwards with investors earning 1.2 percent this month.
The whole case-study emphasizes on the fact that proper details should be taken into account and followed with utmost sincerity. It makes an interesting subject to find out that how things would unfold in the next couple of days and months to come by.
