Market Update
- Posted by currencies in Bank of England, Brexit, Rate Cuts, UK, Uncategorised
- June 1, 2020
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The pound rose against a broadly weaker dollar in early this morning as Britain eased some lockdown restrictions, but the market’s net short position on sterling is the largest in more than five months. New rules designed to ease the lockdown in England came into force today, even though scientists warned that, in the absence […]
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Market Update
- Posted by currencies in Bank of England, Brexit, coronavirus, UK, Uncategorised
- May 28, 2020
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The pound was flat against the dollar and euro in early London trading, near the lows reached the days before on reports that Brexit talks are at an impasse. Sterling fell 1% after Britain told the European Union on Wednesday it needed to break a fundamental impasse to clinch a Brexit trade deal by the […]
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Market Update
- Posted by currencies in Bank of England, coronavirus, UK, Uncategorised
- May 21, 2020
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Sterling edged up against the U.S. dollar but fell versus the euro as clouds lingered over the pound after UK inflation fell below 1% to its lowest in nearly four years. The drop in inflation fuelled speculation that the Bank of England (BoE) would cut interest rates below zero to bolster an economy hammered by […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Currency, Sterling, UK, Uncategorised
- May 20, 2020
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Britain’s inflation rate sank in April to its lowest since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing retailers cut prices, while power tariffs also slid. The consumer price index dropped to an annual rate of 0.8% in April from 1.5% in March, official data showed on Wednesday, broadly in […]
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Britain’s economy shrank by a record 5.8%
- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Economy, GBP, Rate Cuts, Sterling, UK, Uncategorised
- May 13, 2020
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Britain’s economy shrank by a record 5.8% in March from February as the coronavirus crisis escalated and the government ordered a shutdown of much of the country to stop the spread of the virus, official data showed this morning. In the first three months of the year, gross domestic product contracted by 2.0% from the […]
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Market Update
- Posted by currencies in Bank of England, coronavirus, Dollar, EUR, GBP, UK, Uncategorised
- May 7, 2020
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The pound rose against the dollar and euro after the Bank of England held rates steady and announced no further stimulus, as expected, and suggested Britain’s economy could bounce back by 15% in 2021. The Bank of England said it was ready to take fresh action to counter the coronavirus hammering which could cause the […]
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Market Update
- Posted by currencies in Bank of England, Brexit, coronavirus, Dollar, EUR, GBP, UK, Uncategorised
- May 6, 2020
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The pound recovered some losses against the dollar in early trading and rose against the euro, as investors grappled with the pound’s downside risks before the Bank of England’s meeting on Thursday. The UK has overtaken Italy to report Europe’s highest official death toll from COVID-19, the disease caused by the new coronavirus, data on […]
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Market Update
- Posted by currencies in Bank of England, coronavirus, Dollar, EUR, GBP, UK, Uncategorised
- May 5, 2020
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Sterling gained as demand eased for U.S. dollars, allowing the pound to recover some of its 1.5% loss this month. The pound ended April up 1.4% against the dollar on the month, benefiting from seasonal factors such as the start of the UK tax year as well as corporate dividend repatriation flows. Risk appetite improved […]
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Market Update
- Posted by currencies in Bank of England, coronavirus, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- April 14, 2020
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Sterling rose to one-month highs versus the dollar and euro today, as hopes lockdowns may be slowing the spread of the coronavirus pandemic strengthened currencies seen as riskier bets. The pound has benefited from improved risk sentiment this month as some economies consider reopening and their coronavirus cases slow, even as experts warn Britain may […]
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Market Update
- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Dollar, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- March 31, 2020
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Sterling has recovered from considerable losses that it suffered from earlier in the month which coincided with the global effect that COVID-19 has placed on the world’s economy. With the virus taking its toll on the UK with 14,000 cases and more than 1,000 deaths, it’s hard to currently see that reaching an agreement with […]
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