US Dollar Soars in Bearish Trade, Pound Undermined by Weak Data and Coronavirus Concerns

US Dollar

The US Dollar skyrocketed this week, as souring market sentiment saw investors flock to the safe-haven currency.  At the same time, the Pound came under some notable pressure this week as a result of some weak data and a worrying rise in domestic coronavirus cases.  Pound Tumbles on Coronavirus Concerns  GBP/EUR – Up one cent … Read more US Dollar Soars in Bearish Trade, Pound Undermined by Weak Data and Coronavirus Concerns

US Dollar Infused with Volatility by Fluctuating Treasury Yields

US Dollar

Pound News: GBP Flat amidst Lull in Data  The Pound (GBP) is rangebound at the start of this week’s session as a lack of notable UK data releases leaves Sterling without any strong directional bias.  GBP investors continue to look to domestic coronavirus developments for fresh impetus, but a modest rise in new cases continues … Read more US Dollar Infused with Volatility by Fluctuating Treasury Yields

Pound Soars amid Decline in UK Coronavirus Cases, US Dollar Plummets on Dovish Fed Policy Statement

pound receeding

The Pound enjoyed strong support this week, as a result of a sustained decline in domestic coronavirus cases, as well as some positive Brexit headlines.   At the same time, the US Dollar faced some notable headwinds, in response to a dovish policy statement from the Federal Reserve as well as an underwhelming US GDP release.  … Read more Pound Soars amid Decline in UK Coronavirus Cases, US Dollar Plummets on Dovish Fed Policy Statement

Pound Slumps as ‘Freedom Day’ Overshadowed by Coronavirus Concerns, Euro Weakens as ECB to Leave Interest Rates at Record Lows for Longer

pound receeding

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

Weekly Update: Euro Knocked by Record Slump in GDP, US Dollar Hit by Sharp Sell-Off

The Euro faced some pressure this week, with a record slump in Eurozone GDP taking some of the recent shine off the single currency. However, the US Dollar struggled even more this week, with trade characterised by a persistent USD sell-off, not helped by a plunge in US growth in the second quarter.   Pound … Read more Weekly Update: Euro Knocked by Record Slump in GDP, US Dollar Hit by Sharp Sell-Off

Euro Edges Higher on European Central Bank (ECB) Tone, US Dollar Slips as US Inflation Misses Expectations

Pound News: Sterling Static after BoE Decision Investors had little reason to move on the Pound on Thursday, as this week’s Brexit news continued to offer the British currency some support while the latest Bank of England (BoE) news had little impact. This left Sterling to be driven by the strength of major rivals instead. As was widely expected, the … Read more Euro Edges Higher on European Central Bank (ECB) Tone, US Dollar Slips as US Inflation Misses Expectations

Barnier’s Fresh Brexit Comments Boost Pound, Risk-Sentiment Remains Low

Pound News: Pound Bullish on Signs of Brexit Progress Most of the Pound’s gains last week came about as a result of comments from EU Chief Negotiator Michel Barnier, regarding progress in UK-EU negotiations. Barnier gave the Pound yet another boost on Monday, as he said it would be ‘realistic’ to expect that a UK-EU deal could be reached within the … Read more Barnier’s Fresh Brexit Comments Boost Pound, Risk-Sentiment Remains Low

Dollar Loses, Euro Gains

As Friday’s trading session progressed, we saw significant movement on both GBP/EUR and GBP/USD. So what had happened to the Pound? Well you might be surprised to hear, nothing. As we often express, the currency markets are a complicated entity, where a change in perspective 3000 miles away can have a direct impact back home. … Read more Dollar Loses, Euro Gains

Sterling loses ground as UK Retail Sales take surprise plunge

UK Retail sales figures fell unexpectedly yesterday, showing a 0.2% fall in June, a disappointment on the 0.4% growth expected. Sterling lost ground against the Euro immediately having already been knocked by a spell of Euro strength following a late night vote in Europe (see below). Indeed it may well be the Euro side of … Read more Sterling loses ground as UK Retail Sales take surprise plunge

New Euro high

Sterling/Euro Reaches new high Over the past 24 hours, we have seen GBP/EUR reach their highest rates since October 2007, as levels once again broke through the 1.43 mark, where they remained for the rest of the day; this morning fluctuating as high as 1.4398. This market volatility is expected to last as news continues … Read more New Euro high