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Currency News - EUR

Euro Boosted by ECB’s Extended €600 Billion Stimulus

Written by James Spurway on Thursday, June 4, 2020. Sterling / EUR

Pound News: UK Construction PMI Falls below Forecasts The Pound (GBP) struggled today following the release of the final UK Construction PMI for May, which fell below forecasts to 28.9. However, despite the figure rising above Aprils’ low point of 8.2, this failed to buoy market optimism in Sterling. Tim Moore, Economics Director at IHS…(read more)

Pound Climbs on Upbeat Mood as Brexit Talks Resume

Written by James Spurway on Tuesday, June 2, 2020. Sterling / EUR

Pound News: UK-EU Brexit Talks Resume The Pound (GBP) performed well against its peers today as UK-EU Brexit negotiations resumed with hope of progress. The UK government signalled a possible compromise on fisheries and trade rules, if the EU lowers some of its demands on regulatory alignment. However, after last month’s deadlock between the UK…(read more)

Sterling Slides as Focus Shifts Back to Negative Rate Talk

Written by James Spurway on Wednesday, May 27, 2020. Sterling / EUR

Pound News: GBP Slumps as Focus Shifts Back to Negative Rates Sterling slumped on Wednesday as the focus of traders shifted back to the possibility of the Bank of England (BoE) sending interest rates into negative territory. While the BoE’s Chief Economist, Andy Haldane, played down the prospect of the bank taking rates into negative…(read more)

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)

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