{"id":17331,"date":"2013-05-07T12:28:42","date_gmt":"2013-05-07T10:28:42","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/17331\/uk-sterling-looking-bearish-slides-lower-against-major-currencies\/"},"modified":"2013-05-07T12:28:42","modified_gmt":"2013-05-07T10:28:42","slug":"uk-sterling-looking-bearish-slides-lower-against-major-currencies","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/17331\/uk-sterling-looking-bearish-slides-lower-against-major-currencies\/","title":{"rendered":"UK sterling looking bearish & slides lower against major currencies"},"content":{"rendered":"

\"UKUK sterling exchange rates took a dive lower in trading today and the pound is once again looking bearish against major currencies even after the ECB cut interest rates to 0.50 percent last Thursday matched with an extension of unlimited cheap loans to European banks.<\/p>\n

Latest UK Sterling Rates<\/strong><\/p>\n

As of 13:12 GMT today, one pound UK sterling bought 1.18420 euro (0.28 percent lower) and against the US dollar the rate was $1.55300 (0.29 percent lower). Trading volumes in the UK were extremely light during yesterday\u2019s session thanks to the May Day Bank Holiday.<\/p>\n

ECB Interest Rate Cut<\/strong><\/p>\n

The ECB held interest rates at 0.75 percent for 10 months before cutting them to 0.5 percent last week. It joins the Bank of England in cutting rates to 0.5 percent – where they have been held since March 2009. Europe’s struggles have weighed on Britain, although it managed to grow by 0.3 percnet in the first quarter, avoiding a damaging triple dip recession.<\/p>\n

Sentiment on the euro remained fragile after ECB President Mario Draghi said Monday that the bank would monitor all euro zone economic data in the coming weeks and was ready to act to cut rates further if needed. However the euro has remained in a tight trading range following the announcment.<\/p>\n

Britons Cut Back on Savings<\/strong><\/p>\n

Nearly one third of people in the UK will be forced to cut back their saving or stop putting money aside completely in the coming months, a survey warned today. The squeeze from high living costs and stagnant wage growth is continuing to hold savers back from putting cash aside, according to a new quarterly savings index from Lloyds TSB.<\/p>\n

Around 30 percent of UK savers plan to reduce their saving or stop putting any money away in the next 12 months, while four in 10 consumers currently have no cash left at the end of the month to put into savings. With no major economic news out this week, traders are looking for any clues to help steer bets in the right direction.<\/p>\n<\/p>\n

View original here:
\nUK sterling looking bearish & slides lower against major currencies<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UK sterling exchange rates took a dive lower in trading today and the pound is once again looking bearish against major currencies even after the ECB cut interest rates to 0.50 percent last Thursday matched with an extension of unlimited cheap loans to European banks. Latest UK Sterling Rates As of 13:12 GMT today, one pound UK sterling bought 1.18420 euro (0.28 percent lower) and against the US dollar the rate was $1.55300 (0.29 percent lower). Trading volumes in the UK were extremely light during yesterday\u2019s session thanks to the May Day Bank Holiday. ECB Interest Rate Cut The ECB held interest rates at 0.75 percent for 10 months before cutting them to 0.5 percent last week. It joins the Bank of England in cutting rates to 0.5 percent – where they have been held since March 2009. Europe’s struggles have weighed on Britain, although it managed to grow by 0.3 percnet in the first quarter, avoiding a damaging triple dip recession. Sentiment on the euro remained fragile after ECB President Mario Draghi said Monday that the bank would monitor all euro zone economic data in the coming weeks and was ready to act to cut rates further if needed. However the euro has remained in a tight trading range following the announcment. Britons Cut Back on Savings Nearly one third of people in the UK will be forced to cut back their saving or stop putting money aside completely in the coming months, a survey warned today. The squeeze from high living costs and stagnant wage growth is continuing to hold savers back from putting cash aside, according to a new quarterly savings index from Lloyds TSB. Around 30 percent of UK savers plan to reduce their saving or stop putting any money away in the next 12 months, while four in 10 consumers currently have no cash left at the end of the month to put into savings. With no major economic news out this week, traders are looking for any clues to help steer bets in the right direction. <\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17331","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/17331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=17331"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/17331\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=17331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=17331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=17331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}