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 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

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

GBP/USD Unable to hold gains

GBP/USD breaks $1.30 but is unable to hold onto the gains. The pound continued to rise against the dollar overnight, with the GBP/USD cross hitting $1.3029, the highest we have seen the currency pair since the 22nd May. However, over the course of today’s trading session the pound has given up some of the gains, … Read more GBP/USD Unable to hold gains

Sterling stages a recovery, but will it last?

Written by: Alastair Archbold FX Manager T: 01442 892 066 The Pound staged a modest recovery during yesterday’s trading session, rising from €1.13 to €1.1390. The catalyst for the move higher was the release of the latest UK inflation figure, rising to almost 3% in the biggest jump in 4 years. Usually higher inflation would … Read more Sterling stages a recovery, but will it last?

CAD cheaper to buy

Written by: Richard Beaumont T: 01442 892 060 CAD cheaper to buy despite poor UK figures So far this week we have seen the pound fall against most major currencies but the sterling to Canadian dollar exchange rates have been the exception. In today’s report, we will look at what is causing both the exchange … Read more CAD cheaper to buy