Pound Dirham forecast - GBP AED

The POUND STERLING has endured a shaky session in the currency markets so far today. This morning’s Public Sector Net Borrowing figures revealed that Britain’s government borrowed some GBP600m more last month than analysts had been anticipating. July is traditionally a strong month for government revenues thanks to clement weather and an...

The POUND STERLING is enjoying a positive day, gaining ground against nearly all of the other majors. This morning’s UK industrial and manufacturing data beat expectations, helping Sterling set out on the right foot. Investors holding the Pound appear unphased by accusations that British bank Standard Chartered has been involved in...

The Pound Sterling received a body-blow earlier today, when the minutes of the most recent meeting of the Bank of England’s monetary policy committee were released. In recent months, only two affirmed doves, have supported an extension to the UK’s £325bn Quantitative Easing scheme, so investors were shocked to learn that this month’s...

A highly disappointing showing for this afternoon’s US Consumer Confidence survey has caused a surge in support for the safe-haven Buck. In early trading today, the GBP USD exchange rate had been on the front foot as global stock markets opened up higher. The driving factor behind this improvement in global risk sentiment during the early...

The European Commission announced earlier today that it expects the eurozone economy to shrink by 0.3% this year, heaping the pressure on the troubled EURO. However, the Spanish government’s announcement that it will be making additional funds available to bolster the liquidity of the debt-burdened state’s retail banks has helped stem the...

The POUND STERLING outperformed almost all of the other 16 most-actively traded global currencies on the day, in spite of the fact that there were no tier one data releases during the session. Sterling continued to benefit from UK inflation data, the BoE minutes and British unemployment figures which were released earlier this week and...

The EURO dominated the headlines again today, as Spain revealed €27bn of new cuts from its budget, in an attempt to rein in levels of spending in its debt-hungry economy. The eurozone’s Finance Ministers bolstered the region’s firewall to €1bn at today’s meeting in Copenhagen, but there was bad news for the single currency when...

In the absence of any significant UK data releases, the POUND STERLING has experienced a straight down the middle trading day today. Tomorrow’s UK Trade Balance data has the potential to change things, but Sterling may trade to a NEUTRAL bias until Thursday’s British employment market data before, it re-establishes any clear...

Today saw a very light schedule of UK data releases, with the latest Rightmove House Price Survey, released in the early hours of this morning, providing a highlight, showing a month-on-month increase of 4.1%. The POUND STERLING has spent the majority of today’s session trading with a NEUTRAL bias and this outlook is likely to continue...

POUND STERLING This morning’s UK PMI Manufacturing sector survey came out weaker than anticipated. However, to put a more positive spin on the data, it did show that Britain’s manufacturing base has started to expand once again. Antagonistic comments from MPC member Adam Posen, accusing British retail banks of choking the supply of...