Trade in the Pound was extremely erratic over the past week, as heightened Brexit uncertainty rocked the currency. At the same time, the US Dollar suffered a clear selling bias this week, with improving market sentiment plunging the safe-haven currency to new multi-year lows. Pound Rocked by Brexit Drama GBP/EUR – Unchanged on the week’s … Read more Weekly Update: Pound Swings amid Brexit Drama, USD Plunges to Multi-Year Lows

Pound News: Sterling Gains on Brexit Hopes The Pound strengthened today on Brexit optimism to recover some of yesterday’s losses as Ireland’s Foreign Minister Simon Coveney and the UK’s Education Secretary Gavin Williamson appeared hopeful for a UK-EU trade agreement. Sterling found further support from news that the UK services PMI had printed even better … Read more US Dollar Extends Losses in Risk-On Trade

Pound News: Brexit Steady amid Brexit Uncertainty Speculation over whether or not the UK and EU will reach a deal on Brexit before the end of the Brexit transition period is intensifying. The Pound made some modest gains on Monday on comments from UK Foreign Secretary Dominac Raab that an agreement on fisheries ‘ought’ to … Read more UK-EU Brexit Deal Uncertainty Intensifies

Yet another coronavirus vaccine announcement brought more cheer to the currency market this week, driving risk-sensitive currencies higher and leaving the US Dollar in the dust. At the same time, the Pound retreated from a two-week high as the UK currency fell victim to fresh Brexit uncertainty. Pound Slips from Two-Month High on Brexit Anxiety … Read more Weekly Update: Vaccine News Buoys Market Sentiment as Pound Stumbles from Highs

Pound News: Anxiety over Brexit and UK Economy Casts Clouds over GBP The Pound edged lower today as investors sold the Pound from its best levels as fears persist that UK-EU Brexit negotiations could still collapse. Markets are also concerned about Britain’s economic outlook as the UK may have to weather the combined impact of … Read more Brexit Uncertainty Returns amid Lack of Progress

Pound News: Brexit and Coronavirus Hopes Keep Sterling High The Pound rallied today amid speculation that UK and EU officials are getting closer to reaching a Brexit deal despite the latest PMIs showing UK business activity shrank in November. The Pound also found support from news that UK company AstraZeneca had made major progress on … Read more Sterling Holds Gains amid Brexit and Coronavirus Vaccine Hopes

Currency markets were again cheered by the news of a potential coronavirus vaccine this week, but this upbeat sentiment proved to be short-lived as some sobering coronavirus statistics brought things back into perspective. However, the Pound was still pushed higher this week, supported by some cautious Brexit optimism amid hopes a UK-EU trade deal could … Read more Weekly Update: Pound Rallies on Brexit Optimism as Vaccine Provides Fleeting Gains

Pound News: Brexit Hopes and Inflation Boost Sterling The Pound is climbing against many major currencies today, largely due to expectations that the UK and EU could agree to a Brexit deal soon. Today’s slightly better-than-expected UK inflation report also supported the Pound. However, this movement was limited as inflation is expected to weaken again … Read more Brexit Hopes Buoy Sterling

Pound News: Sterling Jittery ahead of Key Week for Brexit The Pound slipped against major currencies today as markets became anxious ahead of a key week for UK-EU Brexit negotiations. Markets are fairly optimistic on Brexit and coronavirus vaccine hopes, but uncertainty is weighing on the Pound today despite speculation that UK and EU officials … Read more Brexit and Vaccine Developments to Dominate Markets This Week

The tone in the currency market was notably upbeat at the start of this week as the ‘Biden bounce’ and news of a potential coronavirus vaccine cheered investors. However, the risk-on mood began to sour by the second half of the session as record surges in US and European coronavirus cases as well as lingering … Read more Weekly Update: Vaccine Optimism Cheers Markets, US Political Uncertainty Continues