The Pound fell back this week, with the currency suffering a sharp drop off following the publication of the UK’s latest GDP estimate as it failed to impress investors. At the same time, the US Dollar traded in a wide range this week, after being rocked in mid-week trade by the latest US consumer price … Read more Pound Sinks as Mixed GDP Release, US Dollar Fluctuates as US Inflation ‘Peaks’
The Pound faced some significant headwinds at the start of this week as England’s ‘freedom day’ was undermined by a worrying jump in domestic coronavirus infections. At the same time, the Euro faltered in the wake of the European Central Bank’s (ECB) latest rate decision as the bank signalled that interest rates are likely to remain … Read more Pound Slumps as ‘Freedom Day’ Overshadowed by Coronavirus Concerns, Euro Weakens as ECB to Leave Interest Rates at Record Lows for Longer
Pound News: Sterling Gains Slow as Brexit Concerns Returning While the Pound has been benefiting from rising risk appetite and hopes that the UK economy will start recovering as the economy starts to reopen, rising Brexit fears are capping GBP’s potential for gains. Unless the UK seeks an extension the euro could remain biased to … Read more USD Dips, Investors More Willing to Take Risks as Economies Start to Reopen
Pound News: Political Chaos Muddies Pound Outlook The Pound was once again one of the worst performing major currencies yesterday. Investors continued to sell the currency amid concern that political deadlocks could mean months more Brexit uncertainty. Reaction to this morning’s UK consumer confidence data from GfK is likely to take a backseat to further … Read more UK and US Political Uncertainties Leave Currency Market Volatile
Pound News: Sterling Slides on Threat of No-Confidence Vote The Pound softened slightly against the Euro and US Dollar yesterday thanks to speculation that the UK Parliament will hold a no-confidence vote in the new Boris Johnson government when it returns from summer recess. Today’s session will once again lack notable UK data. Brexit and … Read more NZD Plummets after Rate Cut, GBP Dips
Last week’s high: €1.1150 Last week’s low: €1.0888 Retail Sales Surge Offers Euro Boost Eurozone retail sales saw a solid improvement in June, giving the Euro a boost against its rivals ahead of the weekend. With consumer spending holding up, the impact of Thursday’s underwhelming raft of Eurozone manufacturing PMIs diminished. . Thanks largely to … Read more Resilient Eurozone Retail Sales Buoy Euro Against the Pound
Pound News: Sterling Tumbles on Fresh Fears of UK Recession The Pound was on the back foot again for much of yesterday’s European session, as Britain’s June services PMI printed near stagnation. This left some analysts anxious that Britain’s economy may have contracted in Q2 2019. Sterling did recover slightly towards the end of the … Read more Announcement of Next ECB President Leaves Euro Fluctuating
Last week’s high: C$1.7157 Last week’s low: C$1.6787 CAD Laid Low By Rout in Oil Prices The Pound Canadian Dollar exchange rate roared higher last week, advancing roughly three cents as the oil-sensitive ‘Loonie’ came under considerable pressure amid a rout in oil prices that saw Brent crude strike a new on-year low. Adding to … Read more GBP/CAD Exchange Rate Jumps as Brent Crude Strikes One-Year Low
Pound News: Sterling Limp as Markets Focus on US Politics A lack of notable UK news or Brexit developments on Wednesday left the Pound reacting largely to movements in rival currencies. Lasting hopes that the UK and EU could be closing in on a sweeping soft Brexit deal prevented the British currency from losing ground … Read more US Mid-Term Elections Lead to Weaker US Dollar and Higher Risk-Sentiment
Pound News: Political Jitters Add to Sterling Softness Friday’s weaker-than-expected UK gross domestic product data kept the Pound (GBP) on a softer footing at the start of the week. With the odds of a May Bank of England (BoE) interest rate hike falling GBP exchange rates also came under pressure from the latest domestic political … Read more Solid US Inflation Boosts US Dollar, Canadian Dollar Shrugs off Oil Weakness