In spite of their historical volatility, the GBP-NZD and the GBP-AUD do not get much coverage in the mainstream media. Probably the single biggest reason is wide spreads, which can be as large as 20-30 pips. However, during the past few years, they narrowed down significantly and during the busiest trading hours, we can routinely [...]

The Eurozone meeting in Brussels during last two days created some surprises. The officials signed off on funds to underwrite the EUR 206 billion debt swap of the Greek bonds held by private investors. This is positive. However, on the negative note, Eurozone members have delayed approval of more than half of the EUR 130 billion [...]

In the much-anticipated event of the day, the European Central Bank conducted second round of its three-year refinancing operation. Today’s LTRO was well received, with banks borrowing EUR529 billion. The higher amount of loans in the second round meant that bank participation exceeded December’s facility by about EUR 50 billion. While this was comparable to [...]