The pound has edged higher in Wednesday trading, as GBP/USD makes up some lost ground after losing close to a cent on Tuesday. The pair is trading in the mid-1.56 in the North American session. In the US, today’s highlight is the FOMC policy statement, and the markets will likely react after hearing from the Federal Reserve. In the UK, there were no surprises from the BOE, as the voting pattern for the recent interest and asset purchase decisions were expected. The BOE released the minutes of the most [...] read more
GBP
Central Bank Watch »
BoE Deputy Governor to Quit Central Bank
Posted by Alfonso Esparza 11:21 am EDT, 06/14/2013
Paul Tucker, the deputy governor of the Bank of England who lost out on the top job to the Canadian Mark Carney, has announced that he will leave Threadneedle Street in the autumn. In a statement released on Friday morning, the Bank said Tucker would provide support to the new governor, before departing, initially to spend a period of time in US academia. In his resignation letter to the chancellor, Tucker, one of the Bank’s three deputy governors, said: “I am grateful [...] read more
Economic Exposure »
NY Sentiment Rose This Month
Posted by Dean Popplewell 9:03 am EDT, 06/17/2013
The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions index—the most comprehensive of the survey’s measures—rose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points to -6.7, the shipments index fell twelve points to -11.8, and the unfilled orders index fell eight points to -14.5. The prices paid index held steady at 21.0, while the prices received index rose [...] read more