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Finally it seems as though Banks are starting to turn a corner. Following the positive results from US investment banks this week the market has been given a boost. With the UK having such a strong banking presence this news has also helped to boost sterling seeing GBP extend gains over the week to peak at 1.5068 yesterday. At the time of writing GBP is trading at 1.4825.

In the Eurozone the Euro has fallen to a one month low against the USD erasing gains seen at the end of February which saw EUR peak at 1.3660. EUR has also fallen to a two month low against GBP. At the time of writing EUR is trading at 1.3090 against USD and 0.8822 against GBP. Read the rest of this entry »

The pound has hit a three-month high against the dollar amid gloomy US data and signs of strengthening confidence in the UK currency. Sterling broke through the 1.50 dollar mark several times - its highest level since January. It also rose to 1.137 against the euro at one point, its best performance in more than a month. Analysts said the pound was helped by a fall in the dollar in the wake of news that US consumer inflation had fallen into negative territory for the first time in more than half a century. Read the rest of this entry »