Foreign Exchange Daily Market Update 06/03/2015

Fri, March 06, 2015

Pound falls against Dollar as of the BOE maintains rates 

The Pound weakened against the Dollar as Bank of England held interest rates at a record low of 0.5%, and may not rise at for at least a year.

The Pound climbed against the Euro as the European Central Bank announced details on its bond-buying plan.

The Pound fell 0.3% to $1.5221 yesterday afternoon, extending its 1.1% percent decline over the previous three days. Sterling gained 0.3% to €1.381 against the Euro and touched €1.3851; it had briefly touched €1.3864 this morning, the strongest level since December 2007,

BOE Governor Mark Carney said that a drop in inflation drop in inflation largely caused by energy and food prices. The direction of monetary policy contrasts with that of the European Central Bank, which said Thursday that its 1.1 trillion-euro bond-buying plan would start on March 9.

Data to look out today.   

13:30:  USD Non Farm, and Unemployment.

Today is India will be closed due to national holiday’s

CURRENCY PAYMENTS MADE SIMPLE 

Data Releases