Currency News

Pound Climbs following Hawkish BoE Comments, US Dollar Declines as Markets Rethink Fed Bets

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Pound Sterling

The Pound rallied this week as hawkish Bank of England (BoE) comments and strong PMI results boosted the UK currency. Meanwhile, the US Dollar continued to weaken as markets bet on interest rate cuts from the Federal Reserve and the market mood improved. Pound Rallies as UK Service Sector Activity Expands GBP/EUR – Up one … Read more Pound Climbs following Hawkish BoE Comments, US Dollar Declines as Markets Rethink Fed Bets

US Dollar Nosedives as Inflation Cools, Pound Stumbles following Softer CPI

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US Dollar

The Pound initially found success this week before cooling inflation and contracting retail sales stifled GBP’s upside potential. Meanwhile, the US Dollar plummeted as a softer-than-forecast consumer price index saw markets scale back bets on another Federal Reserve interest rate hike. Pound Undermined by Cooler Inflation Figures GBP/EUR – Unchanged on the week’s opening levels … Read more US Dollar Nosedives as Inflation Cools, Pound Stumbles following Softer CPI

Pound Undermined by BoE Comments, US Dollar Rallies as Fed Strikes Hawkish Tone

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Pound coins

The Pound fell against its stronger rivals this week amid a pullback in Bank of England (BoE) interest rate hike bets. Meanwhile, the US Dollar recouped last week’s losses amid a risk-off mood and hawkish comments from the Federal Reserve. Pound Dented by Dovish BoE Comments GBP/EUR – Down one cent on the week’s opening … Read more Pound Undermined by BoE Comments, US Dollar Rallies as Fed Strikes Hawkish Tone

Pound Fluctuates amid Dovish BoE, US Dollar Slides as Job Market Cools

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Pound Sterling

The Pound wavered this week, as a shift towards bullish trade cushioned Sterling after the Bank of England (BoE) left interest rates unchanged. Meanwhile, the US Dollar weakened as weaker US jobs data was taken as confirmation that the Federal Reserve has ended its tightening cycle. Pound Undermined as BoE Keeps Rates Unchanged GBP/EUR – … Read more Pound Fluctuates amid Dovish BoE, US Dollar Slides as Job Market Cools

Euro Tumbles as ECB Pauses Rate Hiking Cycle, Pound Weakens amid UK Economy Fears

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Euro (EUR) Banknotes

The Pound fell this week as downbeat UK data raised concerns about the country’s economic health. Meanwhile, the Euro dropped as the European Central Bank (ECB) left interest rates unchanged. Pound Declines amid Weak Economic Data GBP/EUR – Unchanged on the week’s opening levels GBP/USD – Down half a cent on the week’s opening levels … Read more Euro Tumbles as ECB Pauses Rate Hiking Cycle, Pound Weakens amid UK Economy Fears

Pound Slumps on Weak Data, Euro Bolstered amid Souring Risk Appetite 

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Pound coins

The Pound was met by notable selling pressure this week as GBP investors were left disappointed by some high-profile UK data releases.  At the same time, the Euro marched higher this week, as it was undermined by a downbeat market mood and sharp improvement in German economic sentiment.  Pound Tumbles on Disappointing Data  GBP/EUR – … Read more Pound Slumps on Weak Data, Euro Bolstered amid Souring Risk Appetite 

US Dollar Rocked by Fluctuating Fed Rate Hike Bets, Pound Stumbles on Lacklustre UK GDP 

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The US Dollar got off to a poor start this week, before a stronger-than-expected US inflation print helped to revived Federal Reserve interest rate expectations.  In contrast, the Pound reversed its initial gains as GBP investors were left disappointed by the UK’s latest GDP figures.  Pound Dented by Disappointing GDP  GBP/EUR – Unchanged on the … Read more US Dollar Rocked by Fluctuating Fed Rate Hike Bets, Pound Stumbles on Lacklustre UK GDP 

US Dollar Rocked by Conflicting Employment Figures, Pound Buoyed by Upwardly Revised UK PMIs 

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US Dollar

The US Dollar traded in a wide range this week as two separate jobs reports offered a conflicting outlook for the US labour market  Meanwhile, the Pound was able to catch bids this week after a positive revision to UK private sector growth in September.  Pound Supported by Upwardly Revised PMIs  GBP/EUR – Unchanged on … Read more US Dollar Rocked by Conflicting Employment Figures, Pound Buoyed by Upwardly Revised UK PMIs 

Pound Buffeted by Gloomy UK Economic Outlook, US Dollar Slips from Multi-Month Highs 

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Pound coins

The pound was met by notable resistance this week as a result of an increasingly pessimistic outlook for the UK.   Meanwhile, the US dollar soared to its highest levels since the end of 2022, before plummeting back down to earth as investors sought to book their profits.  Pound Knocked by UK’s Bleak Economic Outlook  … Read more Pound Buffeted by Gloomy UK Economic Outlook, US Dollar Slips from Multi-Month Highs 

Pound Slumps as BoE Hits Pause, US Dollar Supported by Hawkish Fed 

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Pound Sterling

The pound tumbled to new multi-month lows this week, after the Bank of England (BoE) surprised markets by leaving interest rates on hold.  While the Federal Reserve also hit pause this week, its hawkish forward guidance allowed the US Dollar to strengthen.  Pound Nosedives as BoE Leaves Rates Untouched  GBP/EUR – Down one cent on … Read more Pound Slumps as BoE Hits Pause, US Dollar Supported by Hawkish Fed