Pound Slumps as ‘Freedom Day’ Overshadowed by Coronavirus Concerns, Euro Weakens as ECB to Leave Interest Rates at Record Lows for Longer

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The Pound faced some significant headwinds at the start of this week as England’s ‘freedom day’ was undermined by a worrying jump in domestic coronavirus infections.  At the same time, the Euro faltered in the wake of the European Central Bank’s (ECB) latest rate decision as the bank signalled that interest rates are likely to remain … Read more Pound Slumps as ‘Freedom Day’ Overshadowed by Coronavirus Concerns, Euro Weakens as ECB to Leave Interest Rates at Record Lows for Longer

Pound (GBP) Falls as England Lifts Lockdown Restrictions

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Pound Sterling

Pound News: Concerns Over Easing of Lockdown Restrictions Haunt UK Markets  The Pound (GBP) struggled today despite England lifting lockdown restrictions amid surging daily Covid-19 infections. Prime Minister Boris Johnson also urged caution as a sudden flare-up in hospitalisations or deaths from the virus could see the country re-enter lockdown.  Jim Reid, an analyst at Deutsche Bank, said:  … Read more Pound (GBP) Falls as England Lifts Lockdown Restrictions

US Dollar Firms as Risk-Off Mood Prevails, Euro Stumbles on Dovish ECB Comments

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US Dollar

The US Dollar maintained an upward trajectory this week, as skittish investors continued to favour the safe-haven currency.  At the same time, the Euro struggled to attract support this week in the wake of some dovish comments by European Central Bank (ECB) President Christine Lagarde.  Pound Fluctuates amidst Mixed Data Release  GBP/EUR – Unchanged on the week’s … Read more US Dollar Firms as Risk-Off Mood Prevails, Euro Stumbles on Dovish ECB Comments

Pound Jumps as UK Inflation Beats Expectations

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Pound News: GBP as UK Inflation Smashes Forecasts  The Pound (GBP) rose today as the release of the UK’s consumer price index reported that domestic inflation rate soared to 2.5% in June.  The sharper-than-expected jump in inflation was seen as placing more pressure on the Bank of England (BoE) to start considering the tapering of its … Read more Pound Jumps as UK Inflation Beats Expectations

Pound Steady as Downing Street Confirms Easing of Lockdown Measures on July 19

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Pound News: GBP Steady Despite Soaring Business Confidence  The Pound (GBP) was mostly muted against its peers today despite UK business confidence jumping ahead of the 19 July lifting of lockdown measures.  A survey from BDO, a business advisory firm, revealed that business optimism has leapt to its highest level since 2005, with hiring intentions soaring to a … Read more Pound Steady as Downing Street Confirms Easing of Lockdown Measures on July 19

Euro Rallies as ECB Announces New Inflation Target, US Dollar Underpinned by Souring Market Mood

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US Dollar

After struggling through much of the session, the Euro was granted a reprieve on Thursday, as the European Central Bank’s (ECB) altered its inflation mandate, raising the ceiling but remaining more hawkish than the Federal Reserve.  At the same time, rising coronavirus concerns and a selloff in equity markets prompted investors to favour the safe-haven US Dollar.  … Read more Euro Rallies as ECB Announces New Inflation Target, US Dollar Underpinned by Souring Market Mood

Pound (GBP) Suffers Amidst Renewed Brexit Uncertainty

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Pound News: GBP Slips amidst Brexit Tensions The Pound (GBP) shed some of this week’s gains following a flare-up of tensions between the European Union (EU) and the UK over the Northern Ireland protocol.   Maros Sefcovic, the European Commissioner, said that the EU could ‘step up’ legal challenges against the UK if it violates the terms on the … Read more Pound (GBP) Suffers Amidst Renewed Brexit Uncertainty

GBP Rises as UK PM Boris Johnson to Confirm Easing of Lockdown Restrictions on 19 July

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Pound Sterling

Pound News: GBP Edges Higher, UK is Expected to Ease Lockdown Restrictions in July  The Pound (GBP) rose against some of the major currencies today ahead of Prime Minister Boris Johnson’s expected announcement of support for the unlocking of England’s lockdown restrictions from July 19.  As a result, Sterling has risen on renewed optimism in the … Read more GBP Rises as UK PM Boris Johnson to Confirm Easing of Lockdown Restrictions on 19 July

US Dollar Strengthens amidst Global Coronavirus Rise, Pound Fluctuates amid Mixed Messages from the BoE

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US Dollar

A worrying rise in global coronavirus cases, stoked demand for the safe-haven US Dollar this week, resulting in it being the top performer through the session.  At the same time, the Pound fluctuated this week, mostly as a result of some conflicting messages from the Bank of England (BoE).  Pound Rocked by Conflicting BoE Comments  … Read more US Dollar Strengthens amidst Global Coronavirus Rise, Pound Fluctuates amid Mixed Messages from the BoE

Pound strengthens despite UK economic contraction as a sour market mood limits the Australian Dollar

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Pound News: Sterling Strengthens Despite UK GDP Growth Rate Contraction  The Pound has strengthened against many of its major rivals today despite the confirmation from the Office for National Statistics (ONS) that the UK’s economy contracted 1.6% during the first quarter of 2021.  Martin Beck, senior economic advisor to the EY ITEM Club commented on the latest … Read more Pound strengthens despite UK economic contraction as a sour market mood limits the Australian Dollar