Fading risks of a no-deal Brexit gave the Pound an opportunity to put in a stellar performance last month, while the US Dollar suffered from a persistent selling bias as a risk-on mood prevailed. Pound Sterling The Pound roared higher in October, recording its best monthly performance in over a decade as the risk of…(read more)

Pound News: Sterling Volatile on Reaction to Government’s Alleged Brexit Plans The Pound fluctuated widely yesterday, trending lower in the afternoon as the UK government’s alleged proposals to resolve the Irish border issue failed to impress political analysts and left Sterling weaker. Britain’s September construction PMI is due for publication today but the spotlight will…(read more)

Pound News: Sterling Rebounds from Week of Steep Losses The Pound recouped some of its recent losses yesterday despite persistent Brexit jitters haunting GBP exchange rates. UK growth and business investment data printed better than expected, offering limited support for Sterling. Markit’s September UK manufacturing PMI will slip into a spotlight otherwise dominated by Brexit…(read more)

Last week’s high: $1.2497 Last week’s low: $1.2275 Pound Weakened by Brexit News, US Dollar Driven by Risk-Appetite The GBP/USD exchange rate shed almost two cents over the course of last week as the resumption of parliament created political chaos, weakening the Pound, while a risk-off environment bolstered the US Dollar. At the start of…(read more)

Last week’s high: CA$1.658 Last week’s low: CA$1.628 Canadian Dollar Edges Higher as BoE Signals Raise Rate Cut Fears The Pound Canadian Dollar (GBP/CAD) exchange rate was subdued at the opening of last week’s session as Prime Minister Boris Johnson downplayed the prospect of a Brexit deal. At a UN summit in New York, Mr…(read more)

Last week’s high: €1.1355 Last week’s low: €1.1124 Disappointing German Manufacturing PMI Fuels Euro Weakness Further signs of a German economic slowdown emerged with the publication of September’s manufacturing PMI. A deeper and unexpected move into contraction territory, with the index sliding from 43.5 to 41.4, fuelled fears for a potential recession in the Eurozone’s…(read more)

Last week’s high: AU$1.8437 Last week’s low: AU$1.8165 ‘Aussie’ Rises despite Dovish Comments From RBA Governor Lowe The ‘Aussie’ slipped against the Pound on Tuesday as the Reserve Bank of Australia (RBA) Governor, Philip Lowe gave his clearest indication yet that the central bank will slash interest rates in October. While he said previous cuts…(read more)

Pound News: Political Chaos Muddies Pound Outlook The Pound was once again one of the worst performing major currencies yesterday. Investors continued to sell the currency amid concern that political deadlocks could mean months more Brexit uncertainty. Reaction to this morning’s UK consumer confidence data from GfK is likely to take a backseat to further…(read more)

Pound News: Sterling Weakens as Election Uncertainties Return The Pound fell yesterday on fresh uncertainties about the future of UK politics as UK Parliament reconvened following its unlawful prorogation. The government has once again indicated it will try to force a general election, and concerns persist that a no-deal Brexit could still be forced as…(read more)

Pound News: Sterling Jumps as Supreme Court Rules against Government’s Prorogation The Pound advanced against most major rivals yesterday following a unanimous ruling from Britain’s Supreme Court that the government’s prorogation of parliament was unlawful. Due to the ruling, hopes are now rising for MPs to take  action to prevent a no-deal Brexit. Parliament is…(read more)