US Dollar Slumps on US Economic Worries, Pound Supported as UK Data Beats Forecasts

US Dollar

The US Dollar tumbled this week amid signs that the American economy may not be as strong as markets thought.  At the same time, the Pound found some success as UK data exceeded expectations, although long-term worries over the UK economy capped gains.  Pound Buoyed by Unexpectedly Strong Data  After an initial hiccup on Monday, … Read more US Dollar Slumps on US Economic Worries, Pound Supported as UK Data Beats Forecasts

Pound Falls as Inflation Reaches 40-Year High, US Dollar Climbs amid Global Slowdown Fears

Pound

Pound (GBP) Drops amid Stagflation Fears  The Pound (GBP) tumbled against many of its rivals today. The drop in Sterling came after figures showed that UK inflation hit a 40-year high in April. The data fuelled stagflation fears, thereby pushing GBP lower.  Brexit-related headwinds also likely weighed on Sterling today. Earlier this week, UK Foreign Secretary … Read more Pound Falls as Inflation Reaches 40-Year High, US Dollar Climbs amid Global Slowdown Fears

Pound Dips as NI Protocol Drives Brexit Tensions, Euro Struggles as Growth Forecasts Cut

Pound Sterling

Pound (GBP) Ticks Lower as NI Protocol Tensions Continue The Pound (GBP) edged lower today as the UK’s poor economic outlook continued to worsen. Reports that diesel prices in the UK have hit a new record high heightened fears over the impact of the country’s cost-of-living crisis. Brexit-related headwinds also kept trade in Sterling muted … Read more Pound Dips as NI Protocol Drives Brexit Tensions, Euro Struggles as Growth Forecasts Cut

Euro Slides as Russia-EU Animosity Grows, Pound Pressured amid Northern Ireland Protocol Concerns

Pound

The Pound was mixed this week amid some market volatility, although renewed Brexit concerns kept a firm lid on the UK currency. Meanwhile, the Euro stumbled as tensions between Russia and the EU escalated. Pound (GBP) Undermined by Brexit Worries The Pound wobbled through the first part of the week as persistent fears over the … Read more Euro Slides as Russia-EU Animosity Grows, Pound Pressured amid Northern Ireland Protocol Concerns

Pound Slips amid Fresh Recession Warnings, US Dollar Fluctuates after Hot US Inflation Figures

Pound

Pound (GBP) Slides as NIESR Warns of 2022 Recession The Pound (GBP) slipped today as the pessimistic outlook for the UK’s economy continued to weigh on the currency. Research released today by the National Institute for Economic & Social Research (NIESR) highlighted the strong possibility the country could fall into a recession in 2022. Brexit-related … Read more Pound Slips amid Fresh Recession Warnings, US Dollar Fluctuates after Hot US Inflation Figures

Pound Edges Higher as BoE Hints at Further Rate Hikes, US Dollar Dips amid Profit-Taking

Pound Sterling

Pound (GBP) Gains as Saunders Signals Future Rate Hikes  The Pound (GBP) recovered some of its today following last week’s interest rate decision from the Bank of England (BoE). The central bank’s pessimistic outlook for the UK economy likely continued to weigh on Sterling today. On the other hand, a pullback in the US Dollar … Read more Pound Edges Higher as BoE Hints at Further Rate Hikes, US Dollar Dips amid Profit-Taking

Pound Nosedives on Dire BoE Forecasts, US Dollar Rocked by Fed’s 50bps Rate Hike

Pound

The Pound suffered its worst day of trade since the start of Covid pandemic this week as bleak economic forecasts from the Bank of England spooked GBP investors.  At the same time, the US Dollar seesawed this week in response to the Federal Reserve’s largest interest rate hike in over two decades.  Pound Collapses on … Read more Pound Nosedives on Dire BoE Forecasts, US Dollar Rocked by Fed’s 50bps Rate Hike

US Dollar Catapulted to 20-Year High, Euro Rocked by Russian ‘Gas Blackmail’

US Dollar

The US dollar raced to a 20-year high this week, with investors piling into the currency amid risk-off flows and Federal Reserve rate hike expectations.  At the same time, the Euro was shaken by the news Russia halted gas exports to Poland and Bulgaria, amid fears the export ban could be extended to other countries … Read more US Dollar Catapulted to 20-Year High, Euro Rocked by Russian ‘Gas Blackmail’

Pound Slips as Retail Sector Continues to Suffer, Euro Nosedives as Russia Halts Gas Shipments

Pound

Pound (GBP) Drops amid UK Retail Sector Woes Whilst the Pound (GBP) reclaimed some lost ground today, it largely fell against its rivals amid a pessimistic outlook for the UK’s economy. Figures from the Confederation of British Industry (CBI) indicating a further downturn in the UK’s retail sector likely added to these woes today, pulling … Read more Pound Slips as Retail Sector Continues to Suffer, Euro Nosedives as Russia Halts Gas Shipments

Pound Slips amid Fresh Calls for PM’s Resignation, US Dollar Soars amid Risk-Off Mood

Pound Sterling

Pound (GBP) Slides as Confidence in Johnson Falters A poor outlook for the UK economy continued to weigh on the Pound (GBP) today. Retail sales and consumer confidence figures came in below-forecast this week. A sharp decline in confidence in the UK’s manufacturing sector likely also helped keep GBP lower today. The Pound may have … Read more Pound Slips amid Fresh Calls for PM’s Resignation, US Dollar Soars amid Risk-Off Mood