News Tag: sterling
March 17, 2010
The Office for National Statistics (ONS) has today revealed that UK unemployment fell slightly in the three months to January to 2.45 million.
The latest figures take the unemployment rate to 7.8%, according to the ONS.
In the meantime, the number of Britons claiming jobseeker’s allowance (JSA) also fell by 32,300 in February to 1.59 million - the sharpest fall since November 1997, just ...
UK unemployment continues to fall
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 26, 2010
Last month, the Office for National Statistics (ONS) revealed the UK crawled out of recession in the fourth quarter by seeing growth of just 0.1% in the final three months of 2009.
However, the figures were only the first estimate and the second estimate is to be released this morning.
Yesterday, the ONS reported a sharp fall in business investment, which ...
ONS to publish second Q4 GDP estimate
by Kay Murchie
October 13, 2009
The Consumer Prices Index (CPI), a key measure of inflation, has fallen from 1.6% to an annual 1.1% in August - the lowest level since September 2004, the Office for National Statistics (ONS) said today.
While the decline in inflation was higher than analysts had expected, it was primarily due to lower food and energy costs.
According to the ONS, electricity, ...
UK inflation rate falls in September to 1.1%
by Kay Murchie
October 12, 2009
The FTSE 100 Index rose to 5231.16 today - a new record for the year to date.
London’s FTSE responded to strong gains seen on the Dow Jones Industrial Average last Friday, which hit a 12-month high.
Since its low point in March this year, the FTSE 100 Index has risen around 50% with companies such as Marks & Spencer and Barclays seeing gains ...
FTSE 100 reaches 2009 high
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 8, 2009
The British Retail Consortium (BRC) has today revealed a fall in retail sales for the month of August due to the rainfall which kept shoppers away from the High Street.
UK like-for-like sales (which excludes new stores) fell 0.1% compared with August 2008, according to the BRC.
Sales of clothing and footwear lost ground, while the brief recovery in ...
BRC reports fall in UK retail sales in August
by Kay Murchie
NIESR warns of period of stagnation
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
August 11, 2009
Lloyds TSB International this week launched its Bonus Saver Account aimed at British ex-pats and customers who make frequent cross-border transactions.
The account offers no-penalty instant access, and is available in either euros or sterling.
Savers can invest up to £1 million or €1 million.
Sterling accounts with a balance of £5,000 or above benefit from a 12-month introductory bonus of 0.5% interest, ...
Lloyds TSB International launches instant access saver
by David Masters
August 5, 2009
Sterling is continuing to climb against the US dollar on the back of renewed optimism within the UK economy.
News released today sent the pound back above the $1.70 mark - its highest level since October last year.
According to the Office for National Statistics, industrial output rose unexpectedly in June by 0.5% compared with May. While it ...
Pound continues to rise against US dollar following positive economic news
by Kay Murchie
August 4, 2009
There are tentative signs that the construction sector is recovering after figures today revealed that the slowdown in activity eased in July to the slowest pace for sixteen months.
The CIPS/Markit Construction Purchasing Managers’ Index posted a reading of 47 in July, edging closer to the 50 mark which indicates growth.
The index is up from the 44.5 recorded in June ...
Construction sector shows tentative signs of recovery
by Kay Murchie
August 3, 2009
Sterling and the FTSE 100 index of leading shares both rose today on the back of growing hopes for an economic recovery.
The FTSE jumped by 76.85 points to 4,685.21 - the highest level since October with Barclays and HSBC leading the banking sector after reporting first half profits earlier today.
Meanwhile, sterling climbed to $1.6879 against the dollar and also hit ...
Recovery hopes lift sterling and FTSE 100
by Kay Murchie
June 16, 2009
Figures from the Office for National Statistics (ONS) have revealed today that UK Consumer Price Inflation (CPI) fell from 2.3% in April to 2.2% in May - still in line with the Bank of England's target of 2%.
The fall was much less than analysts had expected who had predicted a sharper fall as a result of the recession. However, the ...
UK inflation remains above BoE target
by Kay Murchie
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 21, 2009
Credit rating agency, Standard & Poor’s (S&P), has revised its outlook for the UK from ‘stable’ to ‘negative’ following the announcement that Government borrowing soared to almost £8.5 billion in April.
Official figures show that public sector net borrowing rose to £8.46 billion last month, more than four times the £1.84 billion figure in April last year.
It is the first potential downgrade ...
S&P’s changes UK outlook to negative
by Kay Murchie
April 20, 2009
Sterling started its fight back against the euro and the dollar in recent weeks, and analysts at CaxtonFX expect this trend to continue.
Currency exchange provider CaxtonFX pointed out that last week's stock market rallies and a 5% rise in the FTSE 100 banking index caused sterling to rise to €1.13 and above $1.50.
By comparison, the group expects the euro and the ...
CaxtonFX expects sterling’s rise to continue
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
April 10, 2009
The Office for National Statistics has said that a combination of lower oil prices and the value of the pound has meant that the price of goods leaving the UK has risen by the smallest rate for over a year and a half.
On a month-to-month basis, output prices have risen by just 0.1 percent. This has been ...
Weaker pound slows factory price rise and narrows trade gap
by Peter Charalambous
February 16, 2009
The Confederation of British Industry (CBI) has warned that the UK economy will contract at nearly double the rate previously forecast this year.
The organisation said that the deteriorating global economy, together with a rise in unemployment and the ongoing difficulties that UK firms are facing in accessing credit will drive the economy deeper into recession this ...
CBI warns UK in for worst decline in almost 30 years
by Kay Murchie
