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Moneycorp LogoDaily brief: Moneycorp

Britain loses a second triple-A rating

Posted on: 22 April 2013

On Friday Fitch Ratings joined Moody's in lowering its UK sovereign rating from AAA to AA+. The news was not wholly unexpected but still cost sterling half a euro cent and nearly one US cent.

Cyprus still simmering

Posted on: 19 April 2013

The attorney general of Cyprus insists parliament must give its approval to the bailout conditions handed down by the EU/IMF/ECB troika. That approval is by no means assured.

Higher unemployment rattles sterling

Posted on: 18 April 2013

Sterling was already looking shaky when the employment data came out and it quickly fell a further half-cent against the euro.

IMF less optimistic for global growth

Posted on: 17 April 2013

Having been advised by his chiropractor not to carry a wallet (?) Wayne Klinkel of Denver, Colorado, took to leaving his cash in the car.

Currencies twitchy as commodity and equity prices fall

Posted on: 16 April 2013

A secondary market is a sine qua non for equities and bonds: investors would not buy them if they were obliged to hold them to maturity.

Slower growth in China spooks Far East investors

Posted on: 15 April 2013

The Japanese currency was the top performer by a mile on Friday, strengthening by 2% against the euro and the pound and by 1.5% against the US dollar.

Cyprus must dig deeper

Posted on: 12 April 2013

Five years ago a research paper hypothesised a new currency, one which would create itself and exist in a peer-to-peer cloud outside the influence of politicians and central banks...

Where’s a North Korean rocket when you need one?

Posted on: 11 April 2013

Researchers have discovered that "couples who communicate using Facebook could be putting a strain on their relationship". The ground-breaking discovery was made by Dr Bernie Hogan at the Oxford Internet Institute.

No triple-dip hip hooray!

Posted on: 10 April 2013

Anyone who doubts that local authorities are still wasting ratepayers' money on incompetents in pointless jobs need look no further than Kent's police. A week ago, to much media fanfare, they hired a 13-year-old crime commissioner on a £15k salary.

Yen continues south

Posted on: 9 April 2013

As the yen weakens, so the antipodean dollars move higher. With the BoJ intent on diluting its currency, investors in Japan and elsewhere are hurrying to move their money out of the yen.

North American employment stumbles

Posted on: 8 April 2013

Investors had been expecting an increase of around 191k for March and their disappointment was not alleviated by the 61k upward adjustment to the figures for January and February.

“Cyprus is no template”

Posted on: 5 April 2013

Things should be less hectic for the euro today but there are a couple of important ecostats; German factory orders and Euroland retail sales...


Posted on: 4 April 2013

For most people, staying late at the office either means picking up a kebab on the way home or fixing baked beans on toast before making sure the alarm is set to get them up in time for work at eight or nine in the morning.

BoJ decision time tonight; QE or not QE?

Posted on: 3 April 2013

Michael Sarris became Cyprus's finance minister on 28 February. He lasted a little under five weeks in the post, just long enough to oversee the seizure of bank deposits, the imposition of capital and exchange controls and the onset of a lengthy recession.

Manufacturing PMIs expect to disappoint

Posted on: 2 April 2013

If there was little fun to be had from the media there was even less to be found by the currency investors and traders whose job it was to make something out of London's four-day weekend.