Sterling Rebounds as Market Sentiment Improves ahead of Biden Inauguration

Pound Sterling

Pound News: Jump in UK Inflation and Vaccine Optimism Thrust Sterling Higher An unexpectedly strong UK inflation rate report is helping the Pound to rally today. The inflation uptick came as a sign that the UK’s economy performed well in December despite the coronavirus restrictions. Optimism that Britain continues to ramp up its coronavirus vaccine … Read more Sterling Rebounds as Market Sentiment Improves ahead of Biden Inauguration

Coronavirus Developments Keep Higher Risk Currencies Under Pressure

pound receeding

Pound News: Sterling Slips despite Vaccine News The Pound remains on the back foot despite vaccination efforts being ramped up. Higher-risk currencies are under pressure as investors turn to safe-haven currencies like the US Dollar. If it appears that the lockdown measures deployed in the UK will be tightened or extended the Pound could suffer. … Read more Coronavirus Developments Keep Higher Risk Currencies Under Pressure

Pound Soars as BoE Downplays Negative Rates, USD Rebounds as Biden Announces Stimulus

US Dollar

The Pound has rocketed this week, with the UK currency finding considerable support from the Bank of England’s (BoE) lack of appetite for negative interest rates. At the same time, the US Dollar has mounted a recovery, aided by US President-Elect Joe Biden’s announcement of an ambitious stimulus package. Pound Strengthens as BoE Dismisses Negative … Read more Pound Soars as BoE Downplays Negative Rates, USD Rebounds as Biden Announces Stimulus

Pound Extends Gains as BoE Downplays Negative Rates

Pound Sterling

Pound News: GBP Buoyed by BoE Dismissing Negative Rate Speculation After Bank of England (BoE) Governor Andrew Bailey downplayed speculation that negative interest rates could be introduced, the Pound has made solid gains during the last couple of sessions. GBP exchange rates also continued to receive support from optimism over the speed of the UK … Read more Pound Extends Gains as BoE Downplays Negative Rates

Global Coronavirus Situation Continues Worsening, Weighing on Market Sentiment

pound receeding

Pound News: Sterling Lacks Drive as Coronavirus Fears Persist The Pound was mixed today as souring market sentiment and the UK’s alarmingly high coronavirus rate drove GBP movement. Prevailing risk-off trade gave Sterling support against more risk-sensitive currencies, such as the Australian and New Zealand Dollars, but weakened against a stronger US Dollar. While most … Read more Global Coronavirus Situation Continues Worsening, Weighing on Market Sentiment

Weekly Update: Pound Undermined by UK Lockdown, EUR/USD Strikes Multi-Year Highs in Optimistic Trade

US Dollar

The Pound plummeted this week as a new lockdown in England stoked concerns over the UK’s growth prospects in the first quarter of 2021. At the same time, the hopes for more US fiscal stimulus helped to bolster market sentiment this week, leading to additional losses for the safe-haven US Dollar. Pound Tumbles Following Lockdown … Read more Weekly Update: Pound Undermined by UK Lockdown, EUR/USD Strikes Multi-Year Highs in Optimistic Trade

UK and Eurozone PMIs Miss Forecasts as Coronavirus Restrictions Hit Business Activity

Pound Sterling

Pound News: Sterling Pressured as Britain’s Services Sector Falls Short While Britain’s key services sector continued to recover slightly last month, it was not able to recover as much as forecast. Britain’s services PMI came in at 49.4 according to Markit’s December report, still indicating a contraction in activity. This dip in services activity, combined … Read more UK and Eurozone PMIs Miss Forecasts as Coronavirus Restrictions Hit Business Activity

GBP/USD near 32-Month High before Retreat ahead of UK Coronavirus Restrictions Announcement

Pound Sterling

Pound News: Coronavirus Uncertainties Weigh on Brexit Relief Pound investors were highly relieved last week that the UK and EU had finally implemented a post-Brexit trade deal. However, the relief rally seen last week is already running out of steam in anticipation of Boris Johnson’s announcement this evening that is expected to confirm the England … Read more GBP/USD near 32-Month High before Retreat ahead of UK Coronavirus Restrictions Announcement

New Coronavirus Strain and Infection Surges Send Markets into Fresh Panic

Pound Sterling

Pound News: Brexit and Coronavirus Crises Deepen The Pound plunged across the board today. A lack of a Brexit deal with less than 10 days until the end of the transition period was only part of this. Reports of a new, faster-spreading coronavirus strain in England has led to stricter lockdowns and fears of months … Read more New Coronavirus Strain and Infection Surges Send Markets into Fresh Panic