According to the minutes from their June meeting, the Bank of England is set to freeze interest rates yet again, keeping them at the record low of 0.5 per cent. It is suggested that alternative quantitative easing measures would be discussed, but the very suggestion that the BoE may print more money saw traders at ForexYard distance themselves from sterling during Wednesday’s sessions.

Following the discouraging news from London the pound suffered across the board, with significant losses against the US dollar and the struggling euro. During the London trading session online traders at ForexYard and other foreign currency markets sold the pound, pushing it down as low as $1.6050 against the greenback. The euro also took advantage of the reluctance of investors to buy pounds, climbing to a two-week high against sterling, trading at 89.53p.

During the all-important meeting of the Bank of England’s board members earlier in the month a vote whether to keep interest rates at the ultra-low rate of just half a per cent was found to be in favour of keeping rates down. Seven of the nine members agreed to an interest rate freeze for the time being, news which had an instant knock on affect for the pound.

The continuing uncertainty surrounding Greece and its failing economy has also weighed heavily on the British pound. This is due to the large amount of British money that is currently invested in Greece, its private sector and also it public holdings, money that Greece may not be able to repay.

So what’s next for sterling? Will there be renewed confidence shown towards the British pound or will we see more selling during Thursday’s sessions. If you want to trade the pound or any other major foreign currencies visit ForexYard. Online Forex broker ForexYard is a leading place to trade Forex, with great trading offers available continually. To find out more visit www.forexyard.com today.

On Tuesday the US Federal Reserve Chairman Ben Bernanke made a statement that many traders and market analysts predicted, suggesting that interest rates will remain low for the foreseeable future. Bernanke’s comments hurt the US dollar, with the Greenback trading down against most major currencies at ForexYard and other trading markets.

It wasn’t all doom and gloom from the Federal Reserve chief. He went on to say that “economic growth is likely to pick up in the second half of the year”, offering a glimpse of optimism for the dollar. However, for now the dollar is even losing ground against the struggling euro as no interest rate hike seems likely any time soon.

Early trading during Wednesday’s Asian market session saw the dollar lose ground to the euro, with the EUR/USD climbing to a one-month high of $1.4696 as traders lost further faith in the US currency. Even the Japanese yen, which has faced obvious difficulties of its own, was holding its own against the dollar, trading at the 80.00, where it has hovered for the last 24 hours or so.

So the future looks bleak for the US dollar but that doesn’t mean that you can’t make a profit from ‘selling’ it at an online Forex broker such as ForexYard. If you want to try out Forex trading for yourself, or if you’re looking for a new place to trade visit www.forexyard.com. ForexYard is one of the internet’s most popular online Forex brokers, offering a great choice of currency pairs along with a welcome bonus of up to $1,000 so head over to them today and start trading Forex.

As the price of oil is affected by the strength of the US dollar, and as the dollar made modest headway against the euro during Monday’s trading sessions the price of crude oil has fallen. However, traders at eToro and the world’s other Forex markets saw limited trading thanks to bank holidays in both the US and UK.

During Monday’s trading session on London’s ICE futures exchange Brent crude was trading at $114.68 a barrel, down by 0.3 per cent or 35 cents, while prices at the New York Mercantile Exchange were trading down by 43 cents or 0.4 per cent at $100.16 per barrel. Next week there’s to be a meeting of the Organization of Petroleum Exporting Countries, who are facing mounting pressure, from oil consuming countries such as Japan, to increase supply to help reduce prices.

Further worries regarding Greece and its debt repayments weighed heavily on the euro’s fortunes, which helped the US dollar continue its gains against the single European currency. The EUR/USD currency pair fell as low as $1.4258 late in the London trading session before recovering to the $1.4269 mark by the close of New York trading.

If you want to trade either foreign currencies or oil and other commodities head over to eToro, where you will find many instruments to trade including oil and the EUR/USD currency pair. If you’re a new Forex trader at eToro you can also benefit from a Forex bonus of up to $10,000 when you first fund your trading account. To open a free trading account with eToro visit www.etoro.com.

Renewed Greek debt worries scared off Forex traders from buying euros at many of the world’s Forex trading markets and sites, such as ForexYard, during Wednesday’s London and New York trading sessions. The euro suffered broadly against the majority of other currencies including the Swiss franc, which hit record highs against its Eurozone counterpart.

It is now looking more and more unlikely that Greece will be able to meet their original debt repayment schedule, with the Greece’s government considering making a request to restructure the repayment agreement. Many market analysts and insiders believe that the shadow of uncertainty hanging over Greece is the main reason for the euro’s recent poor performance. However, it is widely believed that even if the Greece situation worsens it wouldn’t be disastrous for the single European currency.

Towards the end of Wednesday’s New York Forex trading session the euro was continuing to struggle, losing ground across the board. The euro was down to $1.4086 against the US dollar and down to Y115.45 against the Japanese yen at ForexYard, where traders are still willing to open short positions buying euros but appetite for the euro in the long term is virtually non-existent.

So what next for the euro? Well the European Central Bank has been making noises regarding further interest rate increases, possibly as soon as this summer. And as always, an interest rate hike would be likely to boost the struggling euro.

If you want to try your hand at trading foreign currencies online or if you’re looking for a new place to trade take a look at what ForexYard has to offer. ForexYard is one of the internet’s leading online Forex brokers, offering a wide range of currency pairs along with tight spreads and even a welcome bonus of up to $1,000 when you first fund your trading account. To find out more visit www.forexyard.com.

Today the Bank of England boosted the pound at ForexYard, where traders witnessed the EUR/GBP fall over 1 per cent on the day to 87.05p, its lowest price since March 24th. There are two major reasons for the sudden drop in the EUR/GBP currency pair. Firstly, the Bank of England has raised its medium-term inflation forecasts and secondly there are fresh worries about Greece and Portugal’s ailing economies that are weighing heavy on the euro and its fortunes.

Today the Bank of England published its Quarterly Inflation Report that showed the UK’s central bank raising its medium-term inflation forecasts, with many analysts and insiders predicting an earlier than expected interest rate hike, possibly in December instead of January. Speculation that interest rates will go up has created a renewed demand for sterling, with investors seeking long positions in the pound.

Renewed fears about Greece and Portugal’s worsening debt crises have also added to the woes of the euro. Greece will almost certainly have to restructure its debt as it seems increasingly unlikely that their economy will be able to afford the agreed repayment structure following their IMF/EU bailout.

Portugal is still to have a bailout deal agreed and thanks to uncertainty in Finland it may be next week before a decision is reached. Finland, unlike other EU member states, has the right to vote on any bailout packages and currently the second political party in Finland isn’t in favour of the deal. Therefore the vote has been delayed until Wednesday of next week, a move that caused traders at ForexYard and other online brokers to avoid buying euros today, instead opting for the pound.

If you’re looking for a new place to trade Forex take a look at the great trading platforms, tight spreads and Forex bonuses available from ForexYard. To find out more about trading Forex online head over to www.forexyard.com.

Today Forex traders at eToro and other leading online Forex brokers watched the euro battle in the face of adversity. News broke today that Greece was struggling with its current debt repayment arrangement and have suggested that they may have to restructure the repayments. This should have destabilised the euro but the single European currency still made headway against the US dollar and other currencies.

A couple of reasons for the euro’s stubborn advances are the encouraging reports from Germany and France detailing increased business activity from the two Eurozone nations. These better than expected figures gave Forex traders and investors a renewed confidence in the euro, plus the business growth could well lead to another interest rate rise, which would certainly boost the euro.

The euro managed to climb above the $1.43 mark, with Forex traders rushing to get a slice of the euro action. This is a long way up from Monday’s two-week low of $1.4155. Other currency pairs on the move today were the USD/JPY and the USD/CAD. The US dollar fell 0.1 per cent against the Japanese yen to 82.51, while the greenback also fell by an even bigger 0.8 per cent against the Canadian dollar, or the ‘loonie’ as it’s often dubbed.

Remember that if you’re looking for a new place to trade Forex online or if you’re new to the world of Forex there’s no better place to trade than eToro. eToro is one of the internet’s most popular online Forex brokers for the retail trader. If you want to find out more visit www.etoro.com.

On a day where traders at ForexYard and other online brokers saw the euro make significant gains ahead of tomorrow’s policy meeting of the European Central Bank, it may have been easy to miss the British pound making headway against the US dollar during Wednesday’s US trading session.

The euro has been strengthening broadly against many currencies every day since the beginning of the week and today was no exception. All of the Forex news has been focussing on the single European currency, the European Central Bank and the predicted interest rate hike, which is believed by many to be around the 25 basis points mark. This led to the euro trading as high as 1.4350 against the US dollar and 121.97 against the yen.

These gains by the euro meant that the pound’s advances went relatively unnoticed by many. The GBP/USD currency pair was trading around the 1.6330 mark at the time of writing this article, which is a climb of 0.21 per cent on the day, and certainly worth some column inches. Traders who bought pounds at the right time today will be rubbing their hands right now.

In other online trading news, the price of precious metals has continued to rise, reaching record highs as the civil unrest in the Middle-East leads to traders avoiding risk and investing in safe haven instruments such as gold and silver. Today, gold hit a record high price of $1,458.50 an ounce, while silver climbed to a 31-year high of $39.77 an ounce.

If you want to speculate on the future of the world’s leading currency pairs and commodities the visit www.forexyard.com. As a new trader at ForexYard you will receive access to a wide choice of instruments with tight spreads and a 10% welcome Forex bonus of up to $1,000 when you first fund your account.

During Tuesday’s European market trading sessions investors at ForexYard and other online Forex brokers saw the US dollar suffer broadly, with the euro hitting a 4 1/2-month high against its US counterpart and the British pound rallying to a massive 14-month high against the ailing currency. Even amidst the ongoing chaos in Japan, the yen managed to hold its own against the US dollar in a day that the greenback may want to forget.

The euro was trading well thanks to speculation that an interest rate hike is due next month, a move that would further strengthen the single European currency. The euro climbed to a high of $1.4249 but it ran into options-related barriers at the $1.4250 mark.

In a similar fashion to the euro, the British pound was being bought by traders at ForexYard as an increase in UK inflation to 4.4 per cent fuelled speculation that the Bank of England will raise interest rates in the coming weeks.

The Japanese yen has been on a hectic journey over the past 10 days following the massive disasters that have taken place in the Land of the Rising Sun but the Japanese currency has held its own today, trading in a tight range, trading at the 81.00 mark for the majority of the day.

If you want to speculate on the fortunes of the US dollar, the euro, the British pound or the Japanese yen head over to ForexYard. ForexYard has a great choice of currency pairs to trade from their ever-popular trading platform and as a new trader you can also benefit from a 10 per cent cash back on your first deposit, with a Forex bonus of up to $1,000 up for grabs. Visit www.forexyard.com today to open a new online Forex trading account in minutes.

Today the US dollar fell thanks to rinsing oil prices, with Forex traders at eToro and other sites witnessing the dollar losing ground against the euro and the Japanese yen. The rising demand for oil, which has been mainly caused by the unrest in the oil producing Middle-East counties, has driven up the price of a barrel of crude oil, which has dramatically devalued the US dollar in the process.

The rising tensions in Libya and other Middle-East countries has pushed the price of Brent crude oil up again, with barrels of Brent trading at $116.32. It times of turmoil investors often opt for lower risk Forex trading, choosing Swiss francs and US dollars in a bid to avoid risk. However, not only has the US dollar been penalised by the rising price of oil, but investors’ preference for the Swiss franc over the greenback as a safe haven currency has further handicapped its progress.

During early US trading today the euro made headway against the US dollar, touching a four-month high of $1.4036 before retreating slightly to the $1.40 mark. While the euro was gaining against the dollar the yen was making headway against its American counterpart too, trading down on Friday’s close at Y82.20. To compound a miserable day for the US dollar it traded down against the British pound at $1.6244, compared to its Friday closing price of $1.6277.

The ever changing fortunes of the US dollar, the euro and crude oil have been offering some hansom positions to traders in the know. If you want to trade Forex or commodities online visit www.etoro.com, where you have access to a massive range of markets and products as well as benefitting from a welcome bonus of up to $10,000 when you make your first deposit at eToro.