US Dollar Leaps to Two-Decade High amid Global Recession Fears, Euro Slips amid Energy Security Concerns

US Dollar

Pound (GBP) Falls as Leadership Contest Intensifies The Pound (GBP) has slumped today amid risk-off trade as well as continued uncertainty surrounding PM Boris Johnson’s potential replacement. Markets are concerned as to any successors outlook on monetary policy, with many hopefuls promising drastic tax cuts. In addition to UK political developments Sterling is also likely … Read more US Dollar Leaps to Two-Decade High amid Global Recession Fears, Euro Slips amid Energy Security Concerns

Pound Rocked by Boris Johnson’s Resignation, Euro Tumbles on Eurozone Recession Fears

Pound

The Pound fluctuated over the past week, with movement in the currency being dominated by a dramatic 24 hours UK politics which culminated in the resignation of Boris Johnson.  At the same time, the Euro came under significant pressure throughout the session, amid fears of an imminent recession in the Eurozone.  Pound Rocked by Political … Read more Pound Rocked by Boris Johnson’s Resignation, Euro Tumbles on Eurozone Recession Fears

Pound Slump amid Political Jitters, Euro Slides as Gas Prices Prompt Recession Fears

Pound Sterling

Pound (GBP) Drops amid Political Uncertainty The Pound (GBP) slumped against many of its peers today, hitting lows not seen since the early days of the Covid-19 pandemic as it was knocked by considerable UK political uncertainty. Hawkish signals from Bank of England (BoE) policymakers today may have given investors some confidence today, however. Monetary … Read more Pound Slump amid Political Jitters, Euro Slides as Gas Prices Prompt Recession Fears

Pound Climbs Despite Poor Outlook for UK Economy, US Dollar Slumps amid Risk-On Mood

Pound

Pound (GBP) Climbs despite Reports of Rising Costs from BCC The Pound (GBP) trended higher today largely owing to a return of global risk appetite. Any significant upward movement for GBP may have been limited by the worsening cost-of-living crisis. The results of a survey by the British Chambers of Commerce (BCC) showed that two … Read more Pound Climbs Despite Poor Outlook for UK Economy, US Dollar Slumps amid Risk-On Mood

Pound Dented by Brexit Uncertainty, US Dollar Soars in Bearish Trade

Pound Sterling

The Pound was placed on the defensive through this week, with the currency being undermined by Brexit jitters and dovish Bank of England comments.  At the same time, the US Dollar rocketed, with risk-off flows and hawkish comments from Federal Reserve Chair Jerome Powell propelling the safe-haven currency higher.  Pound Stumbles on Brexit Jitters  GBP/EUR … Read more Pound Dented by Brexit Uncertainty, US Dollar Soars in Bearish Trade

Pound Slumps as Bailey Signals Cautious Approach, US Dollar Bolstered by Hawkish Stance from Powell

Pound Sterling

Pound (GBP) Falls after Cautious Bailey Speech The Pound (GBP) tumbled against its competitors today after hawkish comments from Bank of England (BoE) Governor Andrew Bailey. Bailey signalled a cautious approach in its future policy, stating that the BoE may not need to act as forcefully as first predicted. Additionally, recently appointed BoE policymaker Swati … Read more Pound Slumps as Bailey Signals Cautious Approach, US Dollar Bolstered by Hawkish Stance from Powell

Pound Climbs ahead of NI Protocol Legislation Vote, US Dollar Falls amid Return of Risk Appetite

Pound

Pound (GBP) Trends Higher despite NI Protocol Tensions The Pound (GBP) ticked higher against some of its rivals today. A return of risk appetite may have helped boost Sterling against some of its riskier competitors. Brexit-related headwinds may have also capped Sterling’s gains today. The UK government has come under fresh criticism today ahead of … Read more Pound Climbs ahead of NI Protocol Legislation Vote, US Dollar Falls amid Return of Risk Appetite

Euro Faces Setback on Dire PMI Figures, US Dollar Shaken by Powell’s Recession Warning

US Dollar

The Euro trended broadly higher through the first half of this week, before shedding a portion of these gains in response to lacklustre PMI releases.  At the same time, the US Dollar seesawed this week. While the currency benefitted from risk-off flows it was also undermined by comments by the Federal Reserve’s Jerome Powell warning … Read more Euro Faces Setback on Dire PMI Figures, US Dollar Shaken by Powell’s Recession Warning

Pound Rises as UK Inflation Hits Fresh Record-High, US Dollar Slips as Powell Hints at Possible Recession

US Dollar

Pound (GBP) Gains as UK Inflation Hits 40-Year High The Pound (GBP) edged higher against its rivals today after UK inflation hit its highest rate in 40 years. The figures likely increased bets on Sterling amid expectations of further action from the Bank of England (BoE). Soaring prices of food and beverages fuelled the rise, … Read more Pound Rises as UK Inflation Hits Fresh Record-High, US Dollar Slips as Powell Hints at Possible Recession

Pound Mixed on BoE Comments, Euro Climbs as Lagarde Confirms July Rate Hike

Pound Sterling

Pound (GBP) Fluctuates on Hawkish BoE Comments The Pound (GBP) saw mixed movements today. Sterling benefitted from a return of risk appetite to make some minor gains against its safer rivals. Hawkish comments from Bank of England (BoE) policymaker Catherine Mann may have also helped to bolster confidence in GDP today. The currency was likely … Read more Pound Mixed on BoE Comments, Euro Climbs as Lagarde Confirms July Rate Hike