First the regulatory bodies are telling the banks to hold more capital in reserve, to guard against further banking melt downs, but the next minute the ECB inflict a negative interest rate on bank deposits. This effectively charges banks for holding onto capital and encourages them to lend. The ECB also slashed the bench mark rate of interest to 0.15%, from 0.25%, to try and stimulate the Eurozone.

These measures where expected by the market so have had little effect but the GBP continues to charge ahead against its continental neighbours and their US cousins as the UK economy continues to show signs on growth while the others splutter.