Pound Dented by Brexit Uncertainty, US Dollar Soars in Bearish Trade

Pound Sterling

The Pound was placed on the defensive through this week, with the currency being undermined by Brexit jitters and dovish Bank of England comments.  At the same time, the US Dollar rocketed, with risk-off flows and hawkish comments from Federal Reserve Chair Jerome Powell propelling the safe-haven currency higher.  Pound Stumbles on Brexit Jitters  GBP/EUR … Read more Pound Dented by Brexit Uncertainty, US Dollar Soars in Bearish Trade

Pound Slumps as Bailey Signals Cautious Approach, US Dollar Bolstered by Hawkish Stance from Powell

Pound Sterling

Pound (GBP) Falls after Cautious Bailey Speech The Pound (GBP) tumbled against its competitors today after hawkish comments from Bank of England (BoE) Governor Andrew Bailey. Bailey signalled a cautious approach in its future policy, stating that the BoE may not need to act as forcefully as first predicted. Additionally, recently appointed BoE policymaker Swati … Read more Pound Slumps as Bailey Signals Cautious Approach, US Dollar Bolstered by Hawkish Stance from Powell

Pound Climbs ahead of NI Protocol Legislation Vote, US Dollar Falls amid Return of Risk Appetite

Pound

Pound (GBP) Trends Higher despite NI Protocol Tensions The Pound (GBP) ticked higher against some of its rivals today. A return of risk appetite may have helped boost Sterling against some of its riskier competitors. Brexit-related headwinds may have also capped Sterling’s gains today. The UK government has come under fresh criticism today ahead of … Read more Pound Climbs ahead of NI Protocol Legislation Vote, US Dollar Falls amid Return of Risk Appetite

Euro Faces Setback on Dire PMI Figures, US Dollar Shaken by Powell’s Recession Warning

US Dollar

The Euro trended broadly higher through the first half of this week, before shedding a portion of these gains in response to lacklustre PMI releases.  At the same time, the US Dollar seesawed this week. While the currency benefitted from risk-off flows it was also undermined by comments by the Federal Reserve’s Jerome Powell warning … Read more Euro Faces Setback on Dire PMI Figures, US Dollar Shaken by Powell’s Recession Warning

Pound Rises as UK Inflation Hits Fresh Record-High, US Dollar Slips as Powell Hints at Possible Recession

US Dollar

Pound (GBP) Gains as UK Inflation Hits 40-Year High The Pound (GBP) edged higher against its rivals today after UK inflation hit its highest rate in 40 years. The figures likely increased bets on Sterling amid expectations of further action from the Bank of England (BoE). Soaring prices of food and beverages fuelled the rise, … Read more Pound Rises as UK Inflation Hits Fresh Record-High, US Dollar Slips as Powell Hints at Possible Recession

Pound Mixed on BoE Comments, Euro Climbs as Lagarde Confirms July Rate Hike

Pound Sterling

Pound (GBP) Fluctuates on Hawkish BoE Comments The Pound (GBP) saw mixed movements today. Sterling benefitted from a return of risk appetite to make some minor gains against its safer rivals. Hawkish comments from Bank of England (BoE) policymaker Catherine Mann may have also helped to bolster confidence in GDP today. The currency was likely … Read more Pound Mixed on BoE Comments, Euro Climbs as Lagarde Confirms July Rate Hike

Pound Rallies on BoE’s Hawkish Forward Guidance, US Dollar Swings Wildly in Uneven Trade

Pound

The Pound rallied from its initial losses this week after the Bank of England (BoE) raised interest rates and strongly hinted that future rate hikes could be more aggressive.  At the same time, the US Dollar witnessed some dramatic swings in movement this week, driving by the Federal Reserve’s latest interest rate decision as well … Read more Pound Rallies on BoE’s Hawkish Forward Guidance, US Dollar Swings Wildly in Uneven Trade

US Dollar Muted ahead of Fed Rate Hike, Euro Falls as ECB Disappoints Markets

US Dollar

Pound (GBP) Climbs Despite EU Legal Action The Pound (GBP) firmed against its competitors today. Gains for Sterling likely came from investors seeking a bargain after the currency hit two-year lows against many of its rivals on Tuesday. Investors have pared back their bets on any aggressive action from the Bank of England (BoE) after … Read more US Dollar Muted ahead of Fed Rate Hike, Euro Falls as ECB Disappoints Markets

Pound Tumbles as UK GDP Surprises to Downside, US Dollar Bolstered by Bets of Aggressive Action from Fed

Pound

Pound (GBP) Tumbles as Economy Shrinks The Pound (GBP) nosedived against its rivals today after disappointing GDP figures this morning. The UK’s economy shrank by 0.3% month-on-month amid soaring energy costs and the country’s cost-of-living crisis. Brexit-related headwinds also likely pulled Sterling lower today. The UK government is facing widespread criticism over its bill designed … Read more Pound Tumbles as UK GDP Surprises to Downside, US Dollar Bolstered by Bets of Aggressive Action from Fed

Euro Fluctuates on ECB Rate Decision, US Dollar Jumps as US Inflation Spikes

US Dollar

The Euro traded erratically this week as the European Central Bank’s confirmation of a July rate hike was offset by its new growth forecasts.  At the same time, the US Dollar shot higher on the back of a surprise jump in US inflation last month.  Pound Rocked by UK Political Uncertainty  GBP/EUR – Up one … Read more Euro Fluctuates on ECB Rate Decision, US Dollar Jumps as US Inflation Spikes