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Currency News

Stronger Retail Sales Fail to Boost Pound, Australian Dollar Falls as US Cancels North Korea Summit

Written by Jack Wiles on Friday, May 25, 2018. Currency News - Sterling / EUR

Pound News: Signs of Improved Consumer Confidence Fail to Shore up Sterling While April’s UK retail sales data showed a surprisingly strong uptick of 1.5% on the year this was not enough to shore up Pound (GBP) exchange rates for long. Markets remain sceptical as to whether this rebound will ultimately prove to be short-lived…(read more)

Weaker-Than-Expected UK Inflation Dents Pound, Euro Softens on Eurozone Growth Worries

Written by Jimi Boake on Thursday, May 24, 2018. Currency News - Sterling / EUR

Pound News: Falling Inflation Weighs on BoE Rate Hike Odds Demand for the Pound (GBP) diminished sharply yesterday thanks to an unexpected weakening of the UK consumer price index. As inflationary pressure showed a surprise dip from 2.5% to 2.4% on the year this undermined the case for a summer interest rate hike from the…(read more)

BoE Comments Provoke Pound Volatility, Canadian Dollar Pushes Higher on Stronger Oil Market

Written by Joe Mayhew on Wednesday, May 23, 2018. Currency News - Sterling / EUR

Pound News: Signs of BoE Hawkishness Prompted Sterling Volatility Pound (GBP) exchange rates surged higher on Tuesday morning thanks to comments from Bank of England (BoE) policymaker Gertjan Vlieghe. As Vlieghe suggested that interest rates could rise six times over the next three years the mood towards the Pound naturally improved, although the boost ultimately…(read more)

Brexit Rebellion Fears Trigger Pound Exchange Rate Losses

Written by Tom Taylor on Tuesday, May 22, 2018. Currency News - Sterling / EUR

Pound News: GBP Weakened by Customs Union Concerns The Pound (GBP) struggled against a basket of currency peers on Monday, posting losses on growing concerns about the UK after Brexit. Foreign Secretary Boris Johnson caused concern by saying that the UK should leave the EU customs union, disregarding an emergency ‘backstop’ that was recently agreed…(read more)

GBP/CAD Fluctuates as Oil Rises, UK Pay Squeeze Ends

Written by Alastair Archbold on Monday, May 21, 2018. Currency News - Sterling / CAD

Last week’s high: C$1.7402 Last week’s low: C$1.7226 Canadian Dollar Buoyed by Soaring Oil Prices The Pound Canadian Dollar exchange rate experienced volatility this week amid a jump in oil prices which saw Brent crude break past $80 a barrel, lending support to the ‘Loonie’. Also driving movement in the pairing this week was the…(read more)

GBP/AUD Fails to Hold Gains on Brexit Uncertainties

Written by James Baxter on Monday, May 21, 2018. Currency News - Sterling / AUD

Last week’s high: AU$1.8097 Last week’s low: AU$1.7921 Strong Commodity Prices Keep Australian Dollar Buoyant Despite some speculation that the UK could remain in an EU customs union following Brexit, the Pound to Australian Dollar exchange rate was unable to sustain gains last week and closed relatively closely to the week’s opening levels. Sterling has…(read more)

Will GBP/USD Fall to New Lows?

Written by Arron Morris on Monday, May 21, 2018. Currency News - Sterling / USD

Last week’s high: $1.3605 Last week’s low: $1.3453 GBP/USD Close to 5-Month Low The Pound struggled against the US Dollar last week, trading at its lowest level since December 2017. The deterioration was partly caused by Bank of England (BoE) Deputy Governor Ben Broadbent, who labelled the UK economy as ‘past its peak’. In US…(read more)

Slowing German Growth Boosts Pound Euro Exchange Rate

Written by Michael Vaughan on Monday, May 21, 2018. Currency News - Sterling / EUR

Last week’s high: €1.1471 Last week’s low: €1.1330 Brexit-Based Uncertainty Limits GBP/EUR Exchange Rate Gains The first quarter German gross domestic product disappointed forecast, with growth found to have halved from 0.6% to 0.3% on the quarter. This gave investors fresh incentive to sell out of the Euro on Tuesday as confidence in the outlook…(read more)

US Dollar Pushes Higher on Labour Market Tightening, Pound Jittery as Brexit Confusion Reigns

Written by Alastair Archbold on Friday, May 18, 2018. Currency News - Sterling / EUR

Pound News: Brexit Divisions Continue to Limit GBP Exchange Rates As Theresa May reiterated a commitment to leaving the customs union, following reports that the UK could remain a member for some years to come, the mood towards the Pound (GBP) deteriorated sharply. With the cabinet still appearing quite sharply divided over the likely future…(read more)

Sterling Tumbles as BoE Warns UK Productivity May have Peaked

Written by Sam Bowrey on Thursday, May 17, 2018. Currency News - Sterling / EUR

Pound News: GBP Suffers Following Broadbent Comments The Pound (GBP) found itself on the back foot against the majority of its peers on Wednesday as markets reacted to comments from Bank of England (BoE) Deputy Governor Ben Broadbent. Speaking to the Telegraph Broadbent warned slowing productivity meant the UK economy is entering a ‘menopausal’ era,…(read more)

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