Pound News: Hopes for Brexit Breakthrough Lift Sterling This week is set to see the final round of UK-EU Brexit negotiations. Hopes that brinksmanship will lead to a breakthrough sometime this week are helping the Pound to keep trending with an upside bias this week so far. The Pound could continue gaining through the week … Read more Final Week of Brexit Negotiations to Drive Volatility in the Pound
The Pound fell sharply this week after the threat of a second wave of coronavirus and new restrictions weighed on Sterling sentiment and the UK’s economic outlook. Meanwhile, the Euro suffered from signs the Eurozone recovery is running out of momentum and the ongoing surge in Covid-19 cases. Pound Slides as New Restrictions Threaten Recovery … Read more Pound Slumps on New Coronavirus Restrictions, Risk-Off Trade Boosts USD
Pound News: Sterling Struggles as Coronavirus Economic Fears Deepen The Pound struggled yesterday as the UK government announced new restrictions to prevent the spread of the coronavirus pandemic. Meanwhile, today’s UK services PMI from Markit fell short of expectations, further deepening concerns about the pandemic’s impact on the UK’s economy. The Confederation of British Industry … Read more Coronavirus Continues to Drive Safe-Haven US Dollar Demand
Pound News: Threat of New Restrictions Pushes Pound Lower In statements made today, UK medical officials signalled strongly that action must be taken to prevent Britain’s coronavirus situation from escalating significantly. This led to fears that the UK could see fresh nationwide lockdown measures, resulting big Pound losses today. Markets are now highly anticipating the … Read more Second UK Lockdown Fears Hit Markets as UK Officials Sound Coronavirus Alarm
Pound News: Sterling Sustains Recovery ahead of BoE Policy Decision The Pound is continuing to make a recovery this week on hopes that the UK government’s controversial Brexit plans will not succeed and a bullish mood, with some analysts suggesting the Pound was oversold last week. Sterling’s gains are limited, but it is finding some … Read more US Dollar Struggles ahead of Federal Reserve Policy Decision
The Pound suffered a dramatic sell-off this week as Brexit jitters reached fever pitch amid fears trade talks could be jeopardised by the UK government’s plan to override part of the EU withdrawal agreement. Meanwhile, the US Dollar extended its recent recovery as skittish investors flocked to the currency in risk-off trade. Pound Collapses on … Read more Weekly Update: Pound Collapses amid Brexit Woes, US Dollar Strengthens in Jittery Trade
Pound News: Pound Plunges on EU Legal Warning The Pound continued to plummet today as UK-EU tensions escalated after the European Commission released a statement saying the internal markets bill has ‘seriously damaged trust’ between the two sides. Added to this, speculation increased that the UK could quit negotiations, pushing the Pound to a six-month … Read more Euro Rockets on ECB Comments as No-Deal Brexit Fears Escalate
Pound News: Revived No-Deal Brexit Fears Send Pound Plunging The pound plunged today after reports emerged that the UK government was preparing to override parts of the Brexit withdrawal agreement on Northern Ireland. Added to this, Boris Johnson indicated the UK would end Brexit trade talks on October 15th, if no progress is made. This … Read more UK Government’s Brexit Plans Shock Markets, Pound Plummets
The US Dollar briefly touched a new two-year low this week, before rebounding on the back of some positive data releases. At the same time, the Euro was under pressure through the session in response to some dismal data releases, and reports the European Central Bank (ECB) is concerned by EUR exchange rates. Pound … Read more Weekly Update: US Dollar Rebounds from Two Year Low on Positive Data, Euro Dented by Poor Data and ECB Concerns
Pound News: Sterling Slips from Highs as Markets Await Bank of England Comments With a lack of notable UK data releases today, the Pound’s movement is being driven by profit taking. This led to GBP being sold from its highest levels ahead of key Bank of England (BoE) speeches in the coming days. While there … Read more US Dollar Rebounds as Australia Records First Recession in Decades