The pound tumbled to new multi-month lows this week, after the Bank of England (BoE) surprised markets by leaving interest rates on hold. While the Federal Reserve also hit pause this week, its hawkish forward guidance allowed the US Dollar to strengthen. Pound Nosedives as BoE Leaves Rates Untouched GBP/EUR – Down one cent on … Read more Pound Slumps as BoE Hits Pause, US Dollar Supported by Hawkish Fed
The Pound faced selling pressure this week as downbeat economic data sparked recession fears and dampened Bank of England (BoE) interest rate hike bets. Meanwhile, the Euro plunged after the European Central Bank (ECB) raised rates but indicated that this may have been its last hike. Pound Falls amid Poor UK Data GBP/EUR – Unchanged … Read more Euro Plunges as ECB Signals Rates Have Peaked, Pound Slides as UK Economy Weakens
The US Dollar climbed to a new multi-month high this week, as it was underpinned by a bearish mood and Federal Reserve interest rate expectations. Meanwhile, the Pound faced headwinds this week as a result of some dovish comments from Bank of England (BoE) Governor Andrew Bailey. Pound Weakens as BoE Predicts UK inflation set … Read more US Dollar Strikes New Multi-Month High, Pound Knocked by BoE Bailey Comments
Pound (GBP) Firms amid Cheery Market Mood With data releases in short supply, the Pound nevertheless managed to firm against some of its peers. As an increasingly risk-on currency, Sterling was able to gain support amid today’s upbeat market mood. Tomorrow, the final print of the UK’s service PMI is scheduled to print. If it … Read more Euro Capped by Sliding Investor Confidence
The Pound fluctuated this week as a lack of clarity in the Bank of England’s (BoE) future policy plans muddied the waters. Meanwhile, the US Dollar suffered a selloff as worrisome US jobs data saw markets pare back bets for further interest rate hikes from the Federal Reserve. Pound Oscillates amid Vague BoE Guidance GBP/EUR … Read more Pound Wavers amid Muddled BoE Guidance, US Dollar Slides on Downbeat Jobs Data
The Pound faced heavy selling pressure this week after dire economic data raised the spectre of a possible UK recession. Meanwhile, the Euro also suffered at the hands of gloomy economic reports, with contracting private sector activity and ongoing German weakness denting EUR. Pound Slides as Recession Fears Swirl GBP/EUR – Down half a cent … Read more Pound Slumps as UK Business Activity Contracts, Euro Weakens following Disappointing Data
Pound (GBP) Listless amid Lack of Data With data releases in short supply, the Pound endured listless trade over today’s session. Due to little impetus, Sterling was left vulnerable to the mercurial market mood. While the gradual shift towards risk-on trade brought some support, GBP was unable to capitalise on the cheery mood. On Wednesday, … Read more Major Currencies Muted amid Mixed Market Mood
The Pound enjoyed notable support this week, after some stronger-than-expected UK data bolstered Bank of England (BoE) interest rate expectations. Meanwhile, the Euro found itself sliding to a one-month low this week, despite some positive Eurozone data releases. Pound Buoyed by Strong Data GBP/EUR – Up one cent on the week’s opening levels GBP/USD – Unchanged … Read more Pound Bolstered by Robust Data, Euro Slips to One-Month Low
Pound (GBP) Strengthens on Stronger-than-Expected UK Inflation Hotter-than-expected core inflation from the UK allowed the Pound to strengthen against most of its major peers today. The core reading prompted investors to bet on at least one additional interest rate hike from the Bank of England (BoE). As UK inflation remains the highest of any G7 … Read more Pound Rises as UK Core Inflation Holds Strong
The US Dollar was volatile this week, with the currency fluctuating in response to a mixed market mood and the latest US inflation figures. Meanwhile, the Pound also traded erratically this week amid growing UK economic uncertainty but was able to rebound from its worst levels thanks to upbeat UK GDP data. Pound Undermined by … Read more US Dollar Fluctuates as US Inflation Accelerates, Pound Rebounds on Positive GDP Print