Pound Plunges on Worrying UK Data, Euro Spurred Higher on Hawkish ECB Comments

Pound

The Pound suffered a sharp selloff this week as an abysmal retail sales print gave rise to fresh concern over the UK’s economic trajectory.  At the same time, the Euro was able to trend broadly higher this week, in response to some hawkish remarks from a European Central Bank (ECB) policymaker.  Pound Tumbles Following Dire … Read more Pound Plunges on Worrying UK Data, Euro Spurred Higher on Hawkish ECB Comments

Pound Struggles Amid Risk-On Market Mood, Euro Trends Higher as ECB Members Signal 2022 Rate Hike

Pound

Pound (GBP) Drops amid Risk-On Trading  The Pound (GBP) fell against many of its rivals today. Increased bets on riskier currencies limited interest in Sterling. A lack of significant data also left Sterling at the mercy of the markets today. Bets on the Pound may have also been limited ahead of speeches from Bank of … Read more Pound Struggles Amid Risk-On Market Mood, Euro Trends Higher as ECB Members Signal 2022 Rate Hike

Euro Softens on Dovish ECB Rate Decision, Pound Bolstered by Sharp Rise in UK Inflation

Pound

The Euro fell back this week, with the bulk of the currencies losses coming in the wake of the European Central Bank’s (ECB) latest interest rate decision. At the same time, the Pound firmed this week as a sharp upswing in UK inflation helped to bolster Bank of England (BoE) rate hike bets. Pound Bolstered … Read more Euro Softens on Dovish ECB Rate Decision, Pound Bolstered by Sharp Rise in UK Inflation

Pound Boosted by Above-Forecast Inflation Figures, Canadian Dollar Jumps as BoC Hikes Rates

Pound

Pound (GBP) Climbs as Inflation Hits Three-Decade High The Pound (GBP) remained bolstered today after higher than forecast inflation figures. The UK’s rate of inflation hit 7% as the consumer price index rose at its fastest pace in three decades. Soaring petrol and diesel costs were highlighted as key drivers amid the country’s cost of … Read more Pound Boosted by Above-Forecast Inflation Figures, Canadian Dollar Jumps as BoC Hikes Rates

Pound Climbs Despite GDP Slip, Euro Boosted by Macron Voting Figures

Pound Sterling

Pound (GBP) Gains Despite Poor GDP Figures  The Pound (GBP) climbed against riskier currencies today, although remained subdued against many of its risk-averse competitors today.   Upward momentum for Sterling was likely limited by poor month-on-month GDP figures today. Whilst the GDP figures are now 1.5% above pre-pandemic levels, the monthly figures came in below … Read more Pound Climbs Despite GDP Slip, Euro Boosted by Macron Voting Figures

Euro Falters as Ukraine Peace Process in Doubt, US Dollar Bolstered by Hawkish Fed

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The Euro came under pressure again this week as events in Ukraine looked to overshadow Ukraine-Russia peace talks.  At the same time, the US Dollar was ultimately able to rally this week, amidst some hawkish signals from the Federal Reserve.  Pound Fluctuates on Cost of Living Concerns  GBP/EUR – Up one cent on the week’s … Read more Euro Falters as Ukraine Peace Process in Doubt, US Dollar Bolstered by Hawkish Fed

Euro Climbs amid Fresh Russia Sanctions, US Dollar Muted Ahead of FOMC Minutes

US Dollar

Pound (GBP) Mixed as Deutsche Bank Warns of UK Recession The Pound (GBP) struggled to make gains against its safer rivals today, but was buoyed against its riskier competitors today. The worsening Ukraine-Russia conflict has limited risk appetite in the markets. A sustained dovish outlook from Bank of England (BoE) policymakers likely weighed upon Sterling … Read more Euro Climbs amid Fresh Russia Sanctions, US Dollar Muted Ahead of FOMC Minutes

Pound Drops amid Mixed Risk Appetite, Euro Tumbles as Ukraine-Russia Peace Talks Falter

Pound

Pound (GBP) Dips amid Retreat to Risk Appetite The Pound (GBP) struggle against its riskier rivals today as risk-on sentiment in the markets began to waver. Reports from the Ukrainian town of Bucha indicating multiple executions of civilians by Russian forces limited hopes for a diplomatic resolution to the conflict. This in turn kept Sterling … Read more Pound Drops amid Mixed Risk Appetite, Euro Tumbles as Ukraine-Russia Peace Talks Falter

Euro Storms Higher on Peace Talk Optimism, US Dollar Wavers in Risk-On Trade

US Dollar

The Euro received a shot in the arm this week amidst renewed hopes for a negotiated end to the war in Eastern Europe, following ‘constructive’ talks between Ukraine and Russia.  At the same time, the US Dollar fluctuated through last week’s session as the hopes for a diplomatic solution to the Ukraine crisis sapped safe-haven … Read more Euro Storms Higher on Peace Talk Optimism, US Dollar Wavers in Risk-On Trade

Pound Weighed Upon by Poor UK Outlook, US Dollar Jumps as Powell Promises Aggressive Rate Hikes

Pound

Pound (GBP) Slides as Bailey Warns of Slowdown The Pound (GBP) tumbled against the majority of its competitors today. The Bank of England’s (BoE) dovish outlook continued to weigh on the currency. Additionally, a speech from BoE Governor Andrew Bailey today added to this sentiment. Bailey stated that there were signs of slowing demand from … Read more Pound Weighed Upon by Poor UK Outlook, US Dollar Jumps as Powell Promises Aggressive Rate Hikes