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Currency News

Sterling Rises as Boris Announces June Reopening of Retail Sector

Written by James Spurway on Tuesday, May 26, 2020. Sterling / EUR

Pound News: Boris Johnson Announces Plans to Open Non-Essential Shops Sterling received an upswing of support on Tuesday as Prime Minister Boris Johnson announced plans to reopen thousands of high street shops, shopping centres and department stores in June. Commenting on this news, strategists at ING wrote: ‘GBP is enjoying a brief reprieve after a…(read more)

Weekly Update: Pound Support Limited as BoE Fails to Rule out Negative Rates, Euro Rallies on Common Fund Hopes

Written by James Spurway on Friday, May 22, 2020. Currency News - Sterling / EUR

As Bank of England (BoE) Governor Andrew Bailey failed to rule out the possibility of negative interest rates the Pound came under renewed pressure. Souring US-China trade relations continued to boost the US Dollar against its rivals, meanwhile, as fears of fresh disruption to the global economy picked up.   Pound Sterling Under Pressure as…(read more)

Sterling Slides on BoE Negative Rate Speculation

Written by James Spurway on Wednesday, May 20, 2020. Sterling / EUR

Pound News: Inflation Slumps to Four-Year Low The Pound edged lower on Wednesday after Britain’s inflation rate slumped below 1%, the lowest level in close to four years. Weak consumer prices have fuelled further speculation that low inflation rates will mean the Bank of England (BoE) needs to take further action, possibly negative interest rates…(read more)

US Dollar Loses Safe-Haven Appeal on Covid-19 Vaccine Trial

Written by James Spurway on Tuesday, May 19, 2020. Sterling / EUR

Pound News: UK Jobless Claims Jump to Highest Level Since 1996 Sterling edged higher against its main rivals, the Euro and US Dollar, overnight before steadying earlier this morning. This saw the currency recover after falling to seven-week lows, although the Pound did not take part in today’s relief rally as risk sentiment improved. However,…(read more)

Weekly Roundup: US Dollar Rallies on US-China Tensions, Disappointment over UK’s New Lockdown Policy Dents Sterling

Written by James Spurway on Friday, May 15, 2020. Currency News - Sterling / EUR

Deteriorating market sentiment helped to give the US dollar a leg up this week, as fears over a new US-China trade war were stoked by comments from Donald Trump. Meanwhile, the Pound took a dive this week as GBP investors were left disappointed and confused by the UK’s new lockdown policy. Pound Sterling Slumps on…(read more)

Sterling Rebounds as Government Extends Furlough Scheme

Written by James Spurway on Wednesday, May 13, 2020. Currency News - Sterling / EUR

Pound News: UK GDP Contracts by Record -5.8% as Coronavirus Hits Sterling exchange rates recovered slightly this morning, although the British currency remained largely vulnerable as investors weighed up the high costs of the government’s furlough scheme. Boris Johnson’s government announced on Tuesday the job retention scheme would be extended to October, offering GBP support….(read more)

Sterling Falls as PM’s Coronavirus Plan Faces Criticism

Written by James Spurway on Monday, May 11, 2020. Currency News - Sterling / EUR

Pound News: PM Boris Johnson Announces Easing of UK’s Lockdown Sterling remained under pressure today as investors were cautious about Prime Minister Boris Johnson’s coronavirus lockdown easing plan. Meanwhile, markets received a boost as several countries made moves to re-open their economies allowing risk sentiment to recover. However, the Pound came under further pressure as…(read more)

Sterling Rises as BoE Hold Off on Further Stimulus

Written by James Spurway on Thursday, May 7, 2020. Currency News - Sterling / EUR

Pound News: UK Set to Face Largest Slump in Over 300 Years Sterling rose this morning against a handful of currencies after the Bank of England (BoE) left interest rates unchanged and held off on further stimulus. Although, the bank said it was ready to take further action to help the economy which is set…(read more)

Pound Struggles, UK Economy Expected to Shrink by -7%

Written by James Spurway on Wednesday, May 6, 2020. Currency News - Sterling / EUR

Pound News: UK on Course to Shrink by 7% Sterling was able to make gains on Tuesday as risk sentiment amongst investors improved after governments began to ease lockdowns across the world. However, PMI data revealed the country is on course for an unprecedented -7% contraction this quarter as lockdown measures forced closures across the…(read more)

GDP Figures Reveal Shocking Damage Caused by Coronavirus Crisis, US Dollar Nosedives

Written by James Spurway on Friday, May 1, 2020. Currency News - Sterling / EUR

It was a busy week for currency traders this week, with the publication of some high-profile data offering investors more insight into the economic damage caused by the coronavirus crisis. This appeared to weigh on the US Dollar in particular, with the currency suffering from a sizable sell-off in spite of a souring market mood…(read more)

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