The Pound found some short-lived gains this week as the UK’s aggressive vaccination programme bolstered hopes for a strong economic rebound this year. At the same time, the US Dollar came under pressure this week as market sentiment was buoyed by Joe Biden taking office and immediately setting to work on tackling the coronavirus crisis … Read more Weekly Update: Pound Fluctuates on UK Economic Optimism, US Dollar Undermined by Biden Bounce

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

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 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

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

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

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

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

Pound News: Sterling Avoids Losses amid Lingering Brexit Hopes Hopes that the UK and EU could reach a Brexit deal this week continue to support the Pound today. The Pound also recovered some of its early-week losses as market panic over the new coronavirus strain has subsided after France lifted the blockade on the cross … Read more Pound Gains on Border Reopening and Brexit Hopes