Pound News: Trump Dampens Hopes for UK-US Trade Deal Investors had been hoping the UK will be able to forge more competitive trade relations with major nations like the US following the conclusion of the Brexit process. However, US President Donald Trump poured cold water on this idea yesterday, causing a sharp Pound correction. Trump…(read more)

Pound News: UK Brexit Uncertainties Limit Sterling Strength Sunday’s emergency UK-EU summit saw officials finalising the long-negotiated UK-EU Brexit deal, as had been widely expected. This news helped to support the Pound somewhat yesterday, but the news failed to pack much of a punch after last week’s declaration announcement. On the other hand, uncertainties about…(read more)

Last week’s high: $1.2912 Last week’s low: $1.2767 GBP/USD Fails to Sustain Major Gains Despite UK-EU Deal Despite Sterling gaining against many other major currencies last week, the Pound to US Dollar exchange rate ultimately closed the week close to its opening levels as the US Dollar remained an appealing buy. Investors bought the Pound…(read more)

Last week’s high: €1.1210 Last week’s low: €1.1317 EUR Hit by Disappointing Data and Brexit Optimism The Euro started the week off on a strong footing against the Pound following the previous week’s Brexit related chaos but that all changed on Tuesday when GBP/EUR slumped down to €1.12. The situation was soon reversed, however, when…(read more)

Last week’s high: AU$1.7799 Last week’s low: AU$1.7525­­ US-China Trade Tensions Sparks Volatility in Australian Dollar Last week, news of the so-called thaw between the US and China in terms of trade relations – which helped the AUD exchange rates – has reversed and is fully reignited. The prospect of the US and China becoming…(read more)

Last week’s high: C$1.7074 Last week’s low: C$1.6861 Pound Lifted by Positive Brexit Progress The Pound Canadian Dollar exchange rate rallied last week as markets cheered the progress made in Brexit negotiations. This was most evident on Thursday as Sterling shot up on the announcement that the UK and EU had reached an agreement outlining…(read more)

Pound News: Hopes for UK-EU Trade Deal Bolster Sterling The perceived chances of a worst-case scenario ‘no-deal’ Brexit lessened slightly on Thursday, as leaders from the UK and EU made a political declaration that a Brexit agreement had been agreed in principle. The declaration of the future UK-EU relationship bolstered hopes that the UK and…(read more)

Pound News: UK Political Uncertainties Limit Sterling Strength As UK Prime Minister Theresa May headed to Brussels to begin the finalisation of the UK-EU Brexit deal, the Pound remained volatile in what was generally an uneventful day for the British currency. Concerns persist however that there may not be enough support for May’s Brexit plan…(read more)

Pound News: Sterling Left Unappealing as DUP Indicates it will not Support Prime Minister’s Brexit The Pound’s volatility persisted yesterday, seeing mixed movement against major rivals as a lack of Brexit news failed to give it direction. Attempts at recovery by Sterling were dampened by news that Northern Ireland’s Democratic Unionist Party (DUP) would likely…(read more)

Pound News: Sharp Rise against Most Majors as May Clings On After last week’s Brexit-driven Sterling chaos the Pound staged something of a comeback yesterday as traders interpreted the lack of fresh bad news as a signal to buy. Despite threats of a no-confidence motion circling Prime Minister Theresa May, the fact that she is…(read more)