Pound News: Moves Higher despite Soaring Covid-19 Cases The Pound consolidated its pre-Christmas gains in the run up to New Year on optimism the UK may avoid severe economic disruption from record high UK coronavirus cases that hit 189,000 on Thursday. News that the UK had met the target of offering every eligible adult a … Read more Pound Firms on UK Economic Optimism
Pound News: Sterling Steady despite Omicron Fears The Pound edged higher at the start of the week amid weakness in many of its peers, except the US Dollar, as optimism over the UK’s ambitious booster vaccine programme of 1 million people a day provided GBP modest support. However, Sterling’s gains were limited by Omicron variant … Read more US Dollar Firms in Anticipation of Fed Tightening
The Pound fell this week as the emergence of the new Omicron Covid variant dashed hopes of a December rate hike from the Bank of England (BoE). Meanwhile, the US Dollar rode out some volatile trade to post gains overall as multiple Federal Reserve officials suggested a faster tapering cycle was still appropriate, despite the … Read more Weekly Update: Pound Softens as BoE Rate Hike Looks Less Likely, US Dollar Edges Higher as Fed Signals Faster Tapering
Pound (GBP) Subdued amid Brexit and Covid Headwinds The Pound (GBP) has traded within a narrow range today as the currency faces headwinds from fresh Covid-19 restrictions and Brexit. The UK announced yesterday that it would be re-implementing the compulsory wearing of face masks in some public settings. Investors will be watching these moves closely … Read more Pound Struggles amid Fresh Covid Restrictions, Euro Dented
Pound News: GBP Slips as BoE Bailey Cautious on Inflation Risks The Pound is struggling for support on Monday but is holding near a 21-month high against the Euro. Comments from Bank of England (BoE) Governor Andrew Bailey struck a cautious tone over when the central bank should interest rates, describing the situation as ‘febrile’ … Read more Pound Struggles but Hits 21-Month High Versus Euro
Pound News: GBP Climbs as UK Inflation Soars The Pound climbed sharply on Wednesday after October’s headline inflation rate jumped to a 10-year high. Inflation rose higher-than-expected to 4.2% last month, above forecasts of 3.9% and up from 3.1% in September. Combined with upbeat UK employment data from Tuesday, investors appear to be increasing bets … Read more Pound Climbs as UK Inflation Fuels BoE Rate Hike Bets
Pound News: Sterling Slips as Brexit Tensions Escalate The Pound weakened during Wednesday’s session, falling sharply against the US Dollar, while remaining in a narrow range versus the Euro. Brexit tensions over reports the UK will invoke Article 16 of the Northern Ireland protocol to suspend parts of the agreement, potentially leading to trade disputes … Read more US Dollar Surges as US Inflation Soars
Pound News: Sterling Recovers some BoE-Driven Losses The Pound strengthened through today’s session, recovering some of last week’s losses following the Bank of England decision to leave interest rates unchanged at 0.1%. After the aggressive selloff, Sterling made gains against rivals’ weakness amid an upbeat market mood as investors adjusted their positions on GBP. Looking … Read more Pound Recovers Ground, USD Dips amid Risk-on Trade
The US Dollar rallied at the end of this week after the Federal Reserve announced tapering plans and the US non-farm payrolls report revealed a robust recovery in the US labour market. Meanwhile, the Pound plunged after the Bank of England (BoE) shocked markets by keeping interest rates at a record low of 0.1%. Pound … Read more Weekly Update: US Dollar Gains on Fed Taper, Pound Nosedives as BoE Holds Interest Rates
Pound News: Sterling Plummets on BoE Decision The Pound plunged across the board on Thursday after the Bank of England (BoE) monetary policy committee (MPC) wrong-footed many investors by voting 7-2 to keep interest rates on hold at 0.1%. Investors had increasingly bet on an interest rate hike at the November meeting due to rising … Read more Bank of England Rate Decision Sparks Pound Selloff