Pound News: Brexit and Recession Fears Keep Pressure on Sterling While the Pound recovered from its worst levels at the end of last week, it still remains under pressure amid no-deal Brexit fears. The Pound was also hit by fresh warnings that the UK could fall into recession. The thinktank NIESR said that there was…(read more)

Last week’s high: $1.2592 Last week’s low: $1.2387 Pound to US Dollar Exchange Rate Recovers Thanks to Broad US Dollar Weakness In the middle of last week, the Pound to US Dollar (GBP/USD) exchange rate briefly slumped to its lowest levels in over two years – since early 2017. This was caused by rising market…(read more)

Last week’s high: AU$1.7944 Last week’s low: AU$1.7648 Pound Plummets on No-Deal Brexit Fears The Pound plummeted to a new six-month low against the Australian Dollar last week as persistent Brexit uncertainty prompted a collapse in Sterling sentiment. GBP investors grew increasingly unnerved by the prospect of a no-deal Brexit last week as both Conservative…(read more)

Last week’s high: C$1.6413 Last week’s low: C$1.6167 Retail Sales Slump Dents CAD Exchange Rates A surprise contraction in Canadian retail sales defied forecasts of a modest acceleration on the month and saw CAD exchange rates falter ahead of the weekend. This latest sign of weakening confidence within the Canadian economy left the Canadian Dollar…(read more)

Last week’s high: €1.1161 Last week’s low: €1.1053 Euro Weakened by Italian Coalition Concerns The Euro came under pressure last week amid fears that the Italian coalition could be on the verge of collapse. The fragile coalition received another knock after League leader Matteo Salvini openly criticised the Five Star Party. As the League has…(read more)

Pound News: Sterling Remains Volatile on Strong UK Retail Stats and Brexit Speculation Following days of losses, the Pound rebounded from its worst levels against many major currency rivals yesterday. Stronger than expected UK retail sales data, as well as efforts from UK Parliament to prevent a no-deal Brexit, both bolstered Sterling demand. Britain’s June…(read more)

Pound News: UK Inflation Offers No Surprises, Leaving Sterling Limp Demand for the Pound remained limited yesterday following the publication of Britain’s June Consumer Price Index (CPI) inflation rate report. The data met expectations in every major print. While the data offered no surprises, it confirmed that Britain’s inflation rate remained near Bank of England…(read more)

Pound News: UK Jobs Data Falls on Deaf Ears as No-Deal Brexit Fears Intensify Continuing the downtrend seen since the beginning of the week, the Pound slumped yesterday. Investors sold the Pound in reaction to comments about Brexit from both the contenders to be Britain’s next Prime Minister. Frontrunner Boris Johnson and his opponent Jeremy…(read more)

Pound News: UK Housing Asking Prices Slump for First Time in 2019 At the start of the week, data from Rightmove revealed that UK house asking prices slumped for the first time in 2019 as buyers’ confidence was damaged by increased Brexit uncertainty. Sterling was left under pressure as asking prices for residential properties advertised…(read more)

Last week’s high: $1.2561 Last week’s low: $1.2442 USD Dollar Sinks as the Fed Hints at Imminent Rate Cuts The Pound US Dollar (GBP/USD) exchange rate rose last week following the Federal Reserve’s hints at a possible rate cut this month. This came following comments from Fed Chairman Jerome Powell who said that global trade…(read more)