Pound News: Growing No-Deal Brexit Fears Limit Pound Appeal Despite weakness in rival currencies such as the Euro, the Pound was unable to capitalise yesterday as fears that a no-deal Brexit was becoming more plausible continued to rise. Investors sold the Pound as hard Brexit advocate Boris Johnson is becoming the clear frontrunner to win…(read more)

Pound News: Brexit Uncertainty Continues to Cloud Sterling Outlook Investors have had little reason to move on the British currency this week so far as last week’s UK political developments have left Brexiteer Boris Johnson as the frontrunner to be Britain’s next Prime Minister. After Johnson performed better than expected in the first round of…(read more)

Last week’s high: $1.2780 Last week’s low: $1.2620   US Dollar Weakens as Markets Price Near-Certainty of 2019 Fed Rate Cut The odds of the Federal Reserve cutting interest rates in the coming months continued to mount last week, limiting the strength of the US Dollar. As May’s consumer price index fell short of forecasts,…(read more)

Last week’s high: €1.1293 Last week’s low:  €1.1196 Euro Slumps on Disappointing Jobs Report After opening the week at just over €1.12, GBP/EUR saw mixed movement throughout the week and touched a six-month low at one point. The main movement point for GBP/EUR came on Thursday, when it was announced that Boris Johnson had won…(read more)

Last week’s high: AU$1.8380 Last week’s low:  AU$1.8184 Australian Dollar Slumps on Disappointing Jobs Report On Tuesday, GBP/AUD rose as UK unemployment figures beat market expectations and remained at a 44-year low. Meanwhile, the ‘Aussie’ was left depressed as, despite the Reserve Bank of Australia (RBA) trying to lift the gloom by cutting interest rates,…(read more)

Last week’s high: C$1.6957 Last week’s low: C$1.6799   Canadian Dollar’s Strong Streak Continues Thanks to Surge in Oil Prices While likely temporary, a surge in oil prices kept the Canadian Dollar climbing against the Pound last week. The Canadian Dollar became more appealing after two oil tankers were allegedly attacked in the Gulf of…(read more)

Pound News: Sterling Sentiment Remains Limited as No-Deal Brexit Jitters Persist Investors have been backing the Pound back this week, but the British currency’s potential for gains remains limited. Investors are hesitant to buy the Pound much due to concerns that a no-deal Brexit is becoming more likely. Britain’s opposition Labour Party failed to push…(read more)

Pound News: Sterling Continues to Benefit from Jobs Data despite Political Jitters Investors kept supporting the Pound yesterday, despite a lack of fresh positive news for the British currency. In fact, the UK government indicated that the country was not prepared for the possibility of a no-deal Brexit, even though most prospective PMs advocate a…(read more)

Pound News: Rising Wages Keep Pound off Lows The Pound tumbled against most major currencies at the beginning of the week in reaction to a surprising contraction in the latest monthly UK growth data, but yesterday’s job market report helped the UK currency to hold away from its worst levels. While some analysts expressed concerns…(read more)

Pound News: Contractions in UK Monthly Growth Leads to Fresh Sterling Losses As the UK Conservative Party’s leadership contest gets underway, the Pound is under pressure and yesterday’s fresh economic data only made it less appealing. A slew of UK ecostats, including GDP growth, manufacturing production and industrial production all printed well short of expectations…(read more)