The News Review:

- Forex – Pound under pressure from banking rumours, BoE minutes
- Forex – Dollar resumes weak trend on expectations Fed to cut rates…
- Forex – Pound dips below 2.00 usd after BoE minutes

Forex – Pound under pressure from banking rumours, BoE minutes
Forbes – Mar 19, 2008
Market rumours that UK bank HBOS may be in funding difficulties and engaged in talks with the BoE were vehemently denied by the BoE and the bank alike, but HBOS’ shares fell sharply. Though it denied any commercial banks are in trouble, the BoE confirmed governor Mervyn King is to meet leading officials from some of the UK’s main financial institutions by tomorrow. The pound took a battering in this environment, falling below the 2 usd threshold. It dipped under that level earlier in the morning after minutes to the BoE’s March meeting revealed a dovish tilt.

Forex – Dollar resumes weak trend on expectations Fed to cut rates…
Forbes – Mar 19, 2008
00 pm (0500 GMT), the dollar was trading at 99. 14 yen, down from 99. 63 in Tokyo this morning.

Forex – Pound dips below 2.00 usd after BoE minutes
Forbes – Mar 19, 2008
00 usd for a short while after the minutes to the last rate-setting meeting at the Bank of England showed that deputy governor John Gieve joined arch dove David Blanchflower in voting for a quarter point reduction. The result was more divided than analysts had expected. They thought that eight rate-setters would vote to keep the Bank rate unchanged at 5.