This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pound Less Lucky Than Euro Against Buck

NEW YORK ( TheStreet) -- The euro outpaced the U.S. dollar Thursday despite the collapse of the Portuguese minority government as expectations of a central bank rate hike in April prevailed.

The euro was rising 0.6% to $1.4174. CurrencyShares Euro Trust (FXE) has been up 6.2% for the past year.

However, the U.K. pound sterling-greenback pairing "has not had the luck of the euro," said FXDD Chief Currency Analyst Greg Michalowski. "In fact it's been down, down, down for the most of the trading day."

The pound was falling 0.8% to $1.6111. CurrencyShares British Pound Sterling Trust (FXB) has been up 7.9% for the past year.

With the Bank of England policymakers split 6-to-3 against interest rate hikes because of the tepid U.K. economic recovery, expectations of a hike in borrowing rates -- currently at a record low of 0.5% -- have been snuffed out in the near term.

Surging commodity prices lent support to commodity currencies such as the Australian dollar, which rallied against the dollar for a fifth straight day. The Australian dollar was gaining 0.8% to $1.0211. CurrencyShares Australian Dollar Trust ( FXA) has been up 12.6% for the past year.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
FXA $76.00 -0.24%
FXB $145.49 -0.08%
FXE $105.80 0.09%
YHOO $44.13 -0.69%
AAPL $124.25 -0.14%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs