News Tag: euro
March 18, 2010
The euro tumbled again today after Greek Prime Minister, George Papandreou, warned that Greece might have to seek help from the International Monetary Fund (IMF).
The currency fell to 1.3648 dollars, before recovering to 1.3692 dollars, however it was still down from 1.3735 dollars late in New York yesterday.
Today, Mr Papandreou told the EU parliament in Brussels: "This ...
Euro falls as Greece warns it could seek IMF help
by Kay Murchie
March 3, 2010
The Greek Government has today unveiled a new series of measures aimed at tackling the country’s debt problems, which has resulted in the euro recovering 0.3% to $1.3637.
Growing fears over the debt crisis in Greece have weakened the value of the euro in recent weeks as Greece takes action to reduce its public deficit from 12% to 8% of ...
Euro rises amid new austerity measures in Greece
by Kay Murchie
March 2, 2010
Growing fears over the debt crisis in Greece continue to weaken the value of the euro and it sank further today to 1.3436 dollars - a level not seen since May 2009.
Greece is currently taking action to reduce its public deficit from 12% to 8% of GDP this year.
The country currently has the highest debt of the 16-member euro zone ...
Euro slumps to nine-month low against dollar
by Kay Murchie
March 1, 2010
The pound plummeted to a 10-month low today over fears of a possible hung parliament in the forthcoming election.
Sterling lost 1.6% and dipped below $1.50 for the first time since May 2009 - it has already lost 7% against the dollar this year.
The pound also lost ground against the euro and many other major currencies.
A Sunday ...
Sterling dives to 10-month low amid election fears
by Kay Murchie
February 22, 2010
The price of US crude oil has moved back above the $80 a barrel mark, while London Brent climbed 58 cents to $78.64, extending last week’s gains.
The rise, which is a six-week high, resulted in the FTSE 100 opening higher today and lifted the euro 0.2% after reports of a rescue for debt-stricken Greece.
Meanwhile, the news also pushed the US ...
Oil moves above $80 a barrel
by Kay Murchie
February 16, 2010
Eurogroup chairman Jean-Claude Juncker has said the euro zone economy will grow by about 1% in 2010.
The chief of the 16-member nation, who is also Luxembourg's Prime Minister, said: "Growth is on the path of consolidation but growth in 2010 will be fragile, moderate."
The euro zone has hit the headlines over the last few weeks due to the severe ...
Euro zone expects growth of 1% in 2010
by Kay Murchie
February 15, 2010
Leading think tank, the Centre for Economic and Business Research (CEBR), has today claimed that the recession and unemployment would have been much worse if Britain had joined the euro.
According to the think tank, if Britain had dropped the pound, the unemployment rate would be at 15% (double what it is now) and GDP might have ...
CEBR reveals what might have happened if Britain joined the euro
by Kay Murchie
February 12, 2010
The International Monetary Fund (IMF) has today pledged its support for Greece after yesterday’s declaration from the European Union, which will see the debt-stricken economy tackle its spiralling debts.
“We stand willing and able to support Greece in ways that the Greek authorities think is appropriate," IMF First Deputy Managing Director John Lipsky told reporters on the sidelines of an international ...
IMF lends its support for Greece
by Kay Murchie
February 11, 2010
After the summit meeting in Brussels today, EU leaders have agreed to work with Greece to tackle its spiralling debts.
Last week, the Greek Government announced tough austerity measures to tackle the country’s spiralling debt.
The country’s runaway budget deficit is currently more than four times the EU limit of 3%. It currently has the highest debt of the 16-member ...
EU agrees to work with Greece over debts
by Kay Murchie
February 8, 2010
Greek unions have today vowed to strike on Wednesday to protest against the Government’s austerity measures.
Last week, Greek Prime Minister, George Papandreou, announced tough austerity measures to tackle the country’s spiralling debt. Measures include a public sector pay freeze, a hike in taxes and an increase to the retirement age.
Spyros Papaspyros, president of the ADEDY public sector union, ...
Greek unions prepare for 24-hour strike amid austerity measures
by Kay Murchie
Sterling falls against dollar over euro zone debt fears
by Kay Murchie
February 5, 2010
Debt concerns in Europe have resulted in heavy falls across Asian stock markets today with Japan's Nikkei index fell nearly 3% and stock markets in Hong Kong, Korea and China experiencing heavy declines.
The Nikkei fell almost 300 points to 10,057.1 - its lowest level in two months. Hong Kong‘s Hang Seng Index lost 592.31 points to 19,749.33 in morning ...
European debt fears send Asian stocks down
by Kay Murchie
January 20, 2010
The pound gained ground against the euro yesterday as US food giant Kraft announced its takeover of British confectioner Cadbury.
The pound rose to a four-month high to 1.1477 euros as the takeover reflected the attraction of overseas companies investing in the UK, according to analysts.
Furthermore, higher than expected inflation figures boosted the prospect that the Bank of England may raise interest rates ...
Pound rises after Cadbury takeover
by Kay Murchie
December 6, 2009
The price of gold has ended its run of all-time highs after positive economic US data sent the dollar higher.
On Friday, the Labor Department revealed that the US economy lost fewer jobs in November with the unemployment rate falling to 10% from a rate of 10.2% in October.
Figures show that US employers cut the lowest number of jobs during the month ...
Dollar strengthens, price of gold falls
by Kay Murchie
September 25, 2009
Sterling fell this morning to a near four-month low to $1.5917 against the US dollar before creeping back up to $1.5989.
The level was the lowest seen since early June after G20 leaders said stimulus packages will remain until a recovery is sustainable.
However, the pound is still currently higher than the low levels of below $1.50 seen ...
Dollar receives a boost after 1st day of G20 summit
by Kay Murchie
September 21, 2009
A warning from the Bank of England about the UK’s debt levels has sent sterling plummeting to a five-month low against the euro. The pound dropped as low as €1.1016 - the lowest level since April
In the meantime, the pound dropped as low as $1.6134 - its lowest against the US Dollar in almost three weeks. ...
Pound falls to five-month euro low following Bank’s Quarterly Bulletin
by Kay Murchie
August 21, 2009
The price of sterling is "creeping up" against foreign currency, but is yet to rise significantly, Which? Money has observed.
Dan Moore, senior researcher at the consumer rights group, said the increase in British manufacturing output and the emergence of Germany, France, and Japan from recession have strengthened the pound.
However, for the average holidaymaker, the pound is "still plodding along", and ...
Which? Money warns sterling is still “plodding”
by David Masters
June 11, 2009
With suggestions that the UK recession may be coming to an end, sterling hit a 2009 high against the euro today.
According to Reuters, sterling rose to 85.10 pence against the euro - its best performance since December.
Sterling was also up against the US dollar, rising one cent to $1.6429.
Sterling has been boosted by a number ...
Pound hits 2009 high against euro as good news filters through economy
by Kay Murchie
May 8, 2009
Currency exchange provider FairFX is offering one of the cheapest deals available on US dollars.
The website is currently the only provider offering a rate of $1.50 for £1.
Stephen Heath, FairFX.com chief executive, said the rate is "good news for anyone planning a trip to the states".
Heath said that because of the current volatility in exchange rates, holidaymakers planning a trip to ...
FairFX offers 1.5 USD for GBP
by David Masters
April 15, 2009
Sterling rose to its highest level against the US dollar today in three months after the Royal Institution of Chartered Surveyors (Rics) announced that housing market activity is picking up after new enquiries increased for the fifth month in a row.
At one point, sterling reached as high as $1.5037 and also hit a six-week high ...
Sterling gets a much-needed boost after good news in the housing market
by Kay Murchie
