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Currency News - EUR

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)

ECB and Fed in Focus This Week

Written by James Spurway on Monday, April 27, 2020. Currency News - Sterling / EUR

Pound News: Will PM Johnson Avoid a Second Wave of Coronavirus? The Pound was able to make gains against a handful of currencies on Monday after markets were provided with a boost of risk appetite on hopes the UK will begin to ease lockdown measures as the number of new coronavirus cases appears to slow….(read more)

BoE Warns of Worst Economic Contraction in Centuries

Written by James Spurway on Thursday, April 23, 2020. Currency News - Sterling / EUR

Pound News: Sterling Steadies despite Downbeat PMIs Sterling edged higher on Thursday despite downbeat UK flash PMI data which fell below even the most pessimistic predictions. The country’s economy seems to be crumbling with government spending rising to its highest levels in peacetime as the coronavirus pandemic hits the economy. Added to this, Bank of…(read more)

Eurozone Consumer Confidence Tumbles to All-Time Low

Written by James Spurway on Wednesday, April 22, 2020. Currency News - Sterling / EUR

Pound News: Sterling Rebounds From Two-Week Low Sterling was able to recover on Wednesday as traders rushed back to the currency that had earlier slipped to a two-week low just a day earlier. Oil prices crashed, sending investors flocking to the safety of currencies such as the US Dollar. Commenting on Wednesday’s rebound, Jeremy Stretch,…(read more)

Global Economy to Suffer Worst Recession Since The Great Depression

Written by James Spurway on Wednesday, April 15, 2020. Currency News - Sterling / EUR

Pound News: Sterling Jumps to One-Month High On Tuesday, the Pound was able to reach one-month highs against both the Euro and US Dollar thanks to the recent boost in risk appetite. Risk sentiment improved after reports some economies were considering to reopen as the number of coronavirus cases continues to slow. This comes despite…(read more)

Market Sentiment Shows Resilience despite Brief Rise in Safe Haven Demand

Written by James Spurway on Thursday, April 9, 2020. Currency News - Sterling / EUR

Pound News: Sterling Steadies after Days of Panic over Boris Johnson’s Health The Pound regained some lost ground yesterday. Amid reports that UK Prime Minister Boris Johnson was stabilising in intensive care, the British currency strengthened again slightly against some major rivals. Developments in Boris Johnson’s recovery will continue to influence Pound trade in the…(read more)

Risk Currencies Rise amid Signs of Coronavirus Slowdown

Written by James Spurway on Tuesday, April 7, 2020. Currency News - Sterling / EUR

Pound News: Sterling Losses Limited but Market Risk-Sentiment Rises The Pound was able to gain against safer currencies yesterday, though it slipped against some currencies more correlated to risk-sentiment. Sterling briefly tumbled on fears over the health of UK Prime Minister Boris Johnson, who has Covid-19, but this fear was short-lived. No notable UK news…(read more)

Safe Haven Demand Returns but Sterling Still Jumps

Written by James Spurway on Thursday, April 2, 2020. Currency News - Sterling / EUR

Pound News: Rival Weakness Helps Sterling to Sustain Gains The Pound was able to maintain some of Tuesday’s gains yesterday. Due to poor manufacturing PMI data from the Eurozone and US, as well as slightly better than forecast UK PMIs, the Pound benefitted from rival weakness. Sterling will continue to be driven by rivals today…(read more)

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