Dear Subscriber, Please find below today's news flash which gives you an insight into the current market conditions, enabling you to keep informed and up to date on the latest currency movements. GBPEUR/GBPUSD The Pound rallied to a fresh 23-month high against the Euro earlier today, while the UK currency also made gains versus the majority of the 16 most actively traded currencies, after the Bank of England elected not to increase quantitative easing this month, despite the UK economy suffering a double-dip recession. UK government bond fell as policy makers maintained asset purchases at £325 billion, while keeping the interest rate on hold at 0.5%. There some speculation that the Central Bank could react to the recent growth figures by increasing stimulus measures to support growth. That still remains a possibility if the recession is deeper than first anticipated but the Pound gained some relief following the announcement. The UK currency has weakened against the higher-yielding currencies, amid a general improvement in global risk appetite. UK stocks advanced this morning with the benchmark FTSE 100 Index up for the first time in three days, which following a rise in Asian stocks last night. The Australian and New Zealand Dollars both bounced back from their recent lows against the Pound but with concerns in Europe far from easing, it's unlikely that the injection of confidence will last.
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