Rate decisions in UK, Eurozone, dont help sterling, euro

Story link: Rate decisions in UK, Eurozone, dont help sterling, euro

The yen was in focus again in global currencies markets as it weakened as equities markets made gains after recent declines. The Japanese currency dropped 0.6 percent to �153.95 versus the euro, while it fell 1.1 percent to �117.30 against the US dollar. Larger declines came as the yen was 1.4 percent lower in relation to the Australian dollar and sterling, to �91.05 and �226.35, and it dropped 2.7 percent versus the New Zealand dollar, to �80.30.

The Swiss franc also fell on the session. It was 0.5 percent lower to SFr1.6125 against the euro, while it dropped 1 percent to SFr1,2290 versus the greenback.

Interest rate decisions by the Bank of England and the European Central Bank did not necessarily help sterling and the euro. The euro was 0.2 percent lower in relation to sterling to �0.6802, while it dropped 0.4 percent to $1.3125 versus the US dollar after comments from the ECB�s president that some analysts took to mean that the current series of rate increases in the Eurozone are almost over.

Meanwhile, sterling fell 0.1 percent to $1.9295 against the US dollar after the Bank of England�s Monetary Policy Committee decided to leave interest rates in the UK at 5.25 percent for the time being. Analysts still believe that the Bank will raise interest rates one more time, possibly in May.