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)

Pound News: PM Boris Johnson Tests Positive for Coronavirus The Pound suffered some losses on Monday after the country’s economic outlook took a further hit after ratings agency Fitch downgraded the country’s sovereign debt rating at the end of last week. Added to this, the recent upswing in support for the safe-haven US Dollar dampened…(read more)

Once again the coronavirus crisis dominated sentiment this week, infusing additional volatility in the currency market. In contrast with the previous session where the safe-haven currency soared, the US Dollar proved the main victim this week as coronavirus driven layoffs saw US weekly jobless claims skyrocket. Pound Sterling Rebounds from Lows GBP/EUR – Up two…(read more)

Pound News: Sterling Benefits from Dollar Weakness The Pound was able to benefit on Wednesday, extending gains thanks to increased US Dollar weakness, and a boost in risk appetite thanks to signs of increased stability amid the coronavirus pandemic. Added to this, as the country’s economy is so heavily reliant on financial markets, the recent…(read more)

Pound News: Sterling Unappealing as Britain’s Coronavirus Crisis Deepens The Pound was one of the currencies to be hit harder by the market’s coronavirus panic yesterday. With markets becoming more anxious about the huge hit Britain’s economy will take from the pandemic, investors sold the Pound against most major rivals. If today’s UK PMI projections…(read more)

Pound News: GBP Rebounds from Multi-Decade Lows After BoE Cut Sterling (GBP) was able to rebound against both the Euro (EUR) and US Dollar (USD) on Friday, buoyed by the Bank of England’s (BoE) decision to cut rates to a record low of 0.1%. The Thursday’s emergency action from policymakers did demonstrate the BoE was…(read more)

  Pound News: Sterling Battered to Multi-Decade Lows Against USD on Coronavirus Fear Yesterday was another heavily bearish session for the Pound. Investors sold the British currency as concerns worsened about how Britain’s economy would cope with the coronavirus pandemic. Sterling saw steep losses against major rivals like the Euro and US Dollar. While the…(read more)

Pound News: UK Government’s Tougher Coronavirus Stance Causes GBP Losses The Pound has been tumbling since Monday evening, when the UK government announced a tougher stance on its handling of the coronavirus pandemic. As many UK businesses announced shutdowns, layoffs and concerns over the economic outlook rose, the Pound fell yesterday. Further developments from the…(read more)

Pound News: Sterling Driven by Rivals amid Lack of Support The pandemic of coronavirus Covid-19 continues to weigh on the Pound, but Sterling is being driven more by the strength of major currency rivals. Sterling has fallen against the highly appealing Euro but is climbing against the weak Canadian Dollar, for example. Britain’s latest job…(read more)

Currency markets were infused with fresh volatility last week as the coronavirus continued dominating market sentiment. Amid the coronavirus induced sell-off the Pound proved particularly vulnerable, with Sterling falling to its worst levels since October. Pound Sterling Falls Victim to Coronavirus Panic GBP/EUR – Down five cents on last week’s opening levels GBP/USD – Down seven cents on last…(read more)