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

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 continues to hold above $1.28.

Written by Arron Morris Senior Currency Broker T: 01442 892 065 The GBP/USD cross looks set to close above $1.28 after the latest round of U.S. business activity and jobless claims failed to help the dollar this afternoon. Both pieces of data have left investors feeling short changed, and has done little to increase confidence … Read more GBP/USD continues to hold above $1.28.