Pound Under Pressure
The pound is back under the cosh this morning, as risk aversion rears it's ugly head again.
In early trade it fell as low as $1.6048 against the dollar, a one month low, and 1.1560 against the euro.
Poor manufacturing data released yesterday continues to weigh on sterling today.
Halifax house prices fell 0.5% in June after a 2.6% m/m rise in May, which was not as bad as feared, but the market reaction to the news was muted.
The BoE starts it's usual two-day policy meeting today, is more QE on the cards? That seems to be what the market is expecting, and that comes at a cost.
Wall Street lost 161.27 points last night, which spilled over into Asian and European trade, which also lent to the negative tone.
In early trade it fell as low as $1.6048 against the dollar, a one month low, and 1.1560 against the euro.
Poor manufacturing data released yesterday continues to weigh on sterling today.
Halifax house prices fell 0.5% in June after a 2.6% m/m rise in May, which was not as bad as feared, but the market reaction to the news was muted.
The BoE starts it's usual two-day policy meeting today, is more QE on the cards? That seems to be what the market is expecting, and that comes at a cost.
Wall Street lost 161.27 points last night, which spilled over into Asian and European trade, which also lent to the negative tone.
