US Dollar Stumbles on Powell’s Tapering Speech, Pound Fluctuates amid UK Economic Concerns

USD

The US Dollar came under some notable pressure this week, after the Federal Reserve’s Jerome Powell confirmed tapering would start by the end of the year but still offered no firm timetable.  At the same time, the Pound was infused with volatility this week as a result of fears over the resilience of the UK … Read more US Dollar Stumbles on Powell’s Tapering Speech, Pound Fluctuates amid UK Economic 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

Weekly Update: Euro Storms to 18-Month High as EU Reaches Accord on Recovery Fund, Market Optimism Batters the US Dollar

The Euro was the leading performer this week, with the single currency soaring higher as EU leaders reached an agreement on the EU’s coronavirus recovery fund. At the same time, optimism over the fund and hopes for a coronavirus vaccine sent the US Dollar tumbling.   Pound Sterling Undermined by Brexit Jitters GBP/EUR – Unchanged … Read more Weekly Update: Euro Storms to 18-Month High as EU Reaches Accord on Recovery Fund, Market Optimism Batters the US Dollar

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

GBP/USD regains some lost ground

Written by Arron Morris Senior Currency Broker T: 01442 892 065 After falling one per cent against the dollar yesterday the pound staged a mini recovery over the course of today’s trading session. In the build up to Bank of England Governor Mark Carney’s testimony in front of the House of Lords Economic Committee yesterday … Read more GBP/USD regains some lost ground

Sterling retains gains, albeit temporary

Written by: Jimi Boake Currency Broker T: 01442 892 060 It seemed Sterling had been able to retain much of its gain over the past week, although yesterday it managed to fall to an intra-day low of €1.1139 rising slightly to end the London session at €1.1192. The fall was caused in anticipation of BOE … Read more Sterling retains gains, albeit temporary

AUD Currency Update: Dollar makes gains against counterparts

James Baxter Senior Currency Broker T: 01442 892 062 GBP/AUD exchange rate graph The Aussie dollar made gains on a number of its counterparts yesterday evening after better than anticipated Consumer Price Index readings. The expected figure, 0.4% was beaten by a 0.7% read and saw the Aussie dollar move from 1.60 to lows of … Read more AUD Currency Update: Dollar makes gains against counterparts