Market news
07.03.2011, 11:36

European focus: The euro rose above $1.4000

The euro traded 0.2 percent from the strongest in four months against the dollar as data  show investor confidence in the region reached the highest since 2007.
The 17-nation currency touched a six-week high against the pound on speculation European Central Bank President Jean-Claude Trichet will reiterate today that an interest-rate increase may come as early as April. 
The yen rose against most of its major peers on speculation Japanese companies bought the currency to bring home overseas earnings before the financial year ends. 
The pound strengthened against the dollar for the first day in three as investors bet the Bank of England will raise borrowing costs before the U.S. Federal Reserve.
Sterling was little changed versus the euro. The central bank will raise its key interest rate by June, according to sterling overnight index average forwards data from Tullett Prebon Plc, while futures trading in the U.S. shows the Federal Reserve is likely to keep its key rate close to zero until next year. Policy makers will maintain the U.K. rate at 0.5 percent on March 10, according to all 61 economists surveyed by Bloomberg News.
“The yield differential is the major driver of currency markets at the moment,” said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubihsi UFJ Ltd. in London. “My sense is that the pound could strengthen into the Bank of England meeting, but it’s unlikely to extend those gains after the meeting unless the BOE surprises and tightens policy.”
Rate increases will probably come at a “slow and steady” pace starting in the next quarter to prevent soaring inflation from becoming embedded in the “national psyche,” the Confederation of British Industry said today.

Latest news
13.12.2024
NZD/USD Price Analysis: Pair edges lower to 0.5760 as selling pressure mounts
13.12.2024
Australian Dollar struggles under pressure as Fed policy shifts
13.12.2024
EUR/USD Price Forecast: Hovers near 1.0500 post-ECB’s rate cut
13.12.2024
Mexican Peso rebounds amid prospects of Fed rate cut
13.12.2024
US Dollar holds its ground on quiet Friday
13.12.2024
Dow Jones Industrial Average extends losses, sheds another 100 points
13.12.2024
Gold dips amid rising US yields ahead of next week’s FOMC meeting
13.12.2024
EUR/USD Price Analysis: Pair recovers slightly, still below 20-day SMA
Support
Personal area
Choose your language / location
English
Español
Русский
Tiếng Việt
Српски
Українська
Enter your request
Start Bonus Open Demo Account
Forex Demo Account
Start Bonus 100%
Synchronous Trading
Our Advantages
Economic Calendar

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location