November 2021 News Archive

<h2>Pound (GBP) Gains as Coronavirus Jitters Hit Markets </h2> The Pound (GBP) made significant gains against its more risk-sensitive peers at the end of the week. News of the emergence of a highly-mutated coronavirus variant in southern Africa described as more transmissible than the Delta variant and able to evade immune...

<h3>Pound (GBP) </h3> The Pound (GBP) struggled today as UK-EU trade talks are set to continue amidst rising concerns that the two sides could fail to come to a consensus on a post-Brexit trade agreement. Last week saw the EU’s Chief Negotiator, Michel Barnier, express doubts over whether the two sides could secure a trade...

Pound Sterling (GBP) The Pound slipped back from its best levels today, as markets once again grew anxious about the fate of the Brexit process. UK and EU officials have shown mixed signals on how negotiations are going, which is causing no-deal Brexit fears to flare up again. No notable UK data will be published tomorrow. This will...

Pound Sterling (GBP) The Pound was initially resilient today, as hopes for a UK-EU Brexit deal to be reached soon persist. However, market relief over US politics ultimately left the Pound sliding against currencies that benefit from US Dollar weakness. Sterling’s movement remains focused on Brexit developments and Britain’s...

<h3>Pound (GBP) </h3> The Pound (GBP) suffered today as the UK enters a crucial week in which UK-EU trade talks are expected to intensify. Nevertheless, with Prime Minister Boris Johnson both in self-isolation and maintaining a hard-line position on Brexit, GBP investors are remaining cautious. Ireland’s Foreign...

<h3>Pound (GBP) </h3> The Pound (GBP) rose today on renewed hopes of a post-Brexit trade deal following the weekend’s tumultuous uncertainty over US political elections. Following Democrat Joe Biden’s substantial lead on US President Donald Trump, GBP investors are now more hopeful that this could place extra pressure on...

Pound Sterling (GBP) While market sentiment improved slightly today, the Pound’s rebound attempt has been limited. The Bank of England (BoE) announced fresh quantitative easing (QE) and notable downgrades to its UK forecasts, amid fears that the coronavirus pandemic will mean a rough Q4 for Britain’s economy. All of this week’s...

Pound Sterling (GBP) The Pound’s movement steadied towards the end of the week. While markets bet the Conservative Party will win next month’s UK General Election, these bets have been largely priced into the Pound and as a result further gains for the currency are limited. Britain’s final November manufacturing PMI will be...

<h2>UK Election Optimism Continues to Buoy Sterling (GBP)</h2> The Pound (GBP) remained largely stable today despite further disappointing data, with inflation slumping to a three year low and increasing the chances the Bank of England’s (BoE) next move is a cut. This came after Tuesday’s data revealed that the number of...

<h2>Pound Sterling (GBP) Rises as UK Escapes Recession</h2> The Pound (GBP) rose against a handful of currencies on Monday as data revealed the UK had escaped falling into recession during the third quarter of 2019. Sterling rallied despite the data showing the country saw the weakest annual growth since 2010 when the UK clawed...

<h2>Pound Sterling (GBP) Under Pressure as UK Service Sector Stagnates</h2> The Pound (GBP) was left under pressure on Tuesday after data revealed the UK services sector was left flat in October as new business fell for the second month in a row. Brexit uncertainty dented the sector, with the latest figure below trend, and...

Pound Sterling (GBP) Despite concerns about an expected month of UK political uncertainty ahead of a December election, the Pound saw fairly solid demand over the past week. Investors are hoping that the ruling Conservative Party will perform well enough to pass its relatively soft Brexit plans. Britain’s October construction PMI will...

Pound Sterling (GBP) Exchange Rates Battered by Brexit Deal Chaos The Pound (GBP) had a tough time on Thursday as confidence in Sterling was shaken by the resignations of Cabinet ministers Dominic Raab and Esther McVey. After Theresa May presented her deal to Parliament yesterday morning, it emerged that a large number of rebel MPs (led...

Pound Sterling (GBP) For the most part, the Pound has been in high demand today. Gains have been seen against peers like the Euro and US Dollar, alongside the Australian Dollar, New Zealand Dollar and Canadian Dollar. This increased demand in Pound Sterling has been caused by the news that there could be a UK-wide EU customs deal in...

Pound Sterling (GBP) The Pound continued its bullish run against most major currencies on Thursday as investors remained hopeful for progress in Brexit negotiations. Since Tuesday, Sterling has seen much stronger demand due to news that the UK and EU were coming close to making a deal on the price of the Brexit ‘divorce bill’. Reports...

Pound Sterling (GBP) After the delivery of what some have classified as a ‘boring’ budget, the Pound has seen a 0.3% rise against the US Dollar, Australian Dollar and New Zealand Dollar. Among the notable GBP losses has been a minor dip against the Euro, due to both currencies being in demand today. Traders appear to be...

EUR/AUD Outlook Poor Unless German Political Breakthrough Occurs The Euro has fallen against the Australian Dollar on Tuesday’s trading session, owing to growing concerns that Germany could face a new election. Germany’s government is currently in a state of flux, with lengthy coalition talks suddenly failing in recent days. This...

Pound Sterling (GBP) For the most part, the Pound was one of the worst-performing major currencies on Tuesday. GBP dropped sharply after the morning’s inflation rate data came out. On the year in October, it was reported that inflation had not changed from 3%. This was problematic, because it means that UK real incomes are likely...

UK Retail Data Disappoints - GBP Exchange Rates Inch Ahead Regardless The Pound maintained its lead against the majors today, only slightly disturbed by a disappointing retail sales report from the British Retail Consortium (BRC) that suggested that UK retail sales steadied to just 0.2% in October (down from 2.4% in the same month,...

GBP Exchange Rates Topple in Response to Cautious BoE Minutes The Pound toppled against the majors today as markets reacted to the dovish contents of the Bank of England’s (BoE) rate hike and meeting minutes. On a 7-2 vote the Monetary Policy Committee (MPC) successfully pushed interest rates up 0.25 basis points, putting the...

Pound Sterling (GBP) The Pound has plummeted in exchange rates today, owing to a new threat emerging about the UK’s exit from the EU. The latest potential holdup in Brexit proceedings has been that the Government may have to hold a vote or even a referendum on single market access, which could remain even after the UK leaves the...

Pound Sterling Advance Seen after PM May Hints at ‘Transitional Brexit’ The value of the Pound has been on a steady upwards path today, owing to the latest announcements from Prime Minister Theresa May. Speaking earlier at a Confederation of British Industry (CBI) conference, May did her best to reassure UK businesses about future...

Pound Sterling While investors had anticipated an uptick in UK retail sales in October, the 7.6% year-on-year jump smashed expectations. This helped to boost demand for the Pound, indicating that consumer confidence has remained robust in spite of the atmosphere of political uncertainty. Even so, worries remain over the Brexit issue and...

Pound Sterling (GBP) The Pound’s success story last week has been partially unravelled since markets opened this week. While some traders remained optimistic on hopes of stronger UK-US trade ties under a US President Trump, the British currency fell on Monday in profit-taking and corrective trade and continued its fall on...

Pound Sterling The UK housing market continued to demonstrate signs of resilience, with the RICS House Price Balance for October unexpectedly strengthening from 18% to 23%. This offered encouragement to the Pound, despite the weaker nature of recent production and trade data. Demand for Sterling was given a further boost by commentary from...

Pound Sterling (GBP) The Pound saw its best trade session in months last week thanks to a double whammy of boosts during Thursday’s European session. A ruling from the UK’s High Court decreeing MPs must have a vote on Article 50 as well as a monetary policy freeze from the Bank of England (BoE) gave GBP investors significantly more...

Pound Sterling (GBP) On the eve of what may be a momentous Bank of England (BoE) interest rate decision, the Pound has found itself in high demand against most peers. This comes despite a number of concerning forecasts made by the National Institute of Economic and Social Research (NIESR), which has estimated a drop in the UK’s GDP...

<b>Pound Sterling</b> Bank of England (BoE) Deputy Governor Ben Broadbent inspired a limited rally for the Pound today after advising that investors should not place too great a focus on the central bank’s inflation target when assessing the potential timing of an interest rate rise. As the policymaker failed to offer any...

<b>Pound Sterling</b> The day’s raft of UK employment data proved more mixed than traders had hoped, as Jobless Claims Change showed a greater rise in claims for unemployment benefit and Average Weekly Earnings fell short of expectations. However, although the Pound initially turned bearish, this was counteracted by the...

Pound Sterling Sentiment strengthened towards the Pound today following the release of the UK Services PMI, which printed above forecast at 54.9. Indicating that the domestic service sector had continued to expand strongly in October this shored up hopes that Bank of England (BoE) policymakers will lean towards greater hawkishness at...

Pound Sterling Surprising investors, the UK Manufacturing PMI defied expectations of a slight decrease to instead print at a significant gain. Rising from 51.8 to 55.5 the index appeared to indicate that the domestic manufacturing sector had experienced a particularly strong month of expansion in October, leading to a marked jump in demand...

Exchange Rates Today: GBP/EUR Edges Higher ahead of German CPI, EUR/USD Softens on Risk Aversion and GBP/AUD Dives on PBOC Monetary Policy Easing Pound Sterling to Euro (GBP/EUR) Exchange Rate Trending within Narrow Range ahead of German CPI Whilst traders await the German inflation data, the Pound Sterling to Euro (GBP/EUR) exchange...

Exchange Rates Today: GBP/EUR Softens on Carney Comments, EUR/USD Holding Steady ahead of US GDP, GBP/AUD Strengthens on Risk Aversion Pound Sterling to Euro (GBP/EUR) Exchange Rate Softens on Dovish Carney After Bank of England Governor Mark Carney intimated that a benchmark rate increase was a long way off, the Pound Sterling to Euro...

Exchange Rates Today: GBP/EUR Exchange Rate Trending Higher on QE Anxieties, EUR/USD Exchange Rate Soft ahead of US Data and GBP/AUD Exchange Rate Rallies on Iron Ore Glut The Pound Sterling to Euro (GBP/EUR) Exchange Rate Strengthens despite Mixed UK Data Although British data produced mixed results on Wednesday, the Pound Sterling to...

Pound Sterling The Pound posted extensive declines on Friday after UKIP won a by-election and increased political uncertainty in the UK in the run-up to the general election. Although the UK’s Public Borrowing figures came in pretty much as forecast, Sterling softened against almost all of its currency counterparts before the close of...

Pound Sterling On Thursday demand for the Pound was supported by an impressive increase in UK retail sales and better-than-forecast Trends Selling Prices, Trends Total Orders reports from the Confederation of British Industry. Sterling strengthened against both the Euro and US Dollar during the European session. Tomorrow’s UK public...

Pound Sterling After softening across the board yesterday in response to expectations that the pace of UK consumer price gains will slow in the months ahead, the Pound was able to stage a rebound on Wednesday. Sterling advanced on several of its rivals as the minutes from the Bank of England’s policy meeting showed that the Monetary Policy...

Pound Sterling After the UK’s Consumer Price Index was shown to have advanced from 1.2% to 1.3% on the year in October, the Pound put on a mixed performance against the majority of its currency counterparts. While the pace of inflation moved closer to the Bank of England’s 2% target, that fact that wage growth is no longer outstripping...

Pound Sterling On Monday the Pound spent the European session trending in a weaker position against both the Euro and US Dollar. The British asset could exhibit additional softness as the week continues if the UK’s Consumer Price Index confirms that the pace of consumer price growth stagnated in October. US Dollar With the publication...

Pound Sterling Yesterday’s dovish quarterly inflation report from the Bank of England (BoE) left the Pound trending in a weaker position against all of its major currency counterparts. The GBP/USD exchange rate brushed a 14-month low and the GBP/EUR exchange rate fell below 1.27. A lack of influential UK reports limited Pound movement on...

Pound Sterling Pound weakness persisted on Friday as a below-forecast UK Construction Output report added to the British currency’s woes. Construction output increased by 1.8% on the month in September, far short of the 4.0% rebound economists had anticipated. If next week’s UK reports, including the nation’s retail sales figures,...

Pound Sterling In a dramatic day of movement for the Pound, the British asset rose in response to an increase in average UK earnings and plummeted in reaction to the Bank of England’s dovish inflation report. The Pound lost over 0.4% against the Euro and 0.5% against the US Dollar. US Dollar A lack of economic reports for the US has...

Pound Sterling A lack of UK data severely limited Pound Sterling movement on Monday and the British currency stayed trading around the day’s opening levels against the US Dollar for most of the European session. However, the GBP/EUR exchange rate was able to edge higher in spite of the Eurozone releasing a better-than-expected Consumer...

Pound Sterling On Friday the Pound came under pressure as the UK trade deficit was show to have widened in September. This disappointing report followed lacklustre UK Services and Construction PMI published earlier in the week. Both the Pound to US Dollar and Pound to Euro exchange rates softened before the weekend. US Dollar With the...

Pound Sterling The Pound came under considerable pressure on Thursday after UK house prices declined, the annual pace of industrial output in the nation slowed and the Bank of England left interest rates unaltered. The developments conspired to pressure Sterling lower and the currency softened against almost all of its currency counterparts....

Pound Sterling After the UK’s Services PMI was shown to have fallen to 56.2 (rather than easing to 58.5 as expected) the Pound posted notable declines against the US Dollar, falling to a one-year low. The British currency also softened against the Euro. However, a sell-off in commodity currencies ensured that the Pound retained the upper...

Pound Sterling The Pound broadly strengthened on Monday as investors responded to the UK’s stronger-than-forecast manufacturing PMI for October. Instead of declining as expected, the index pushed to a three-month high. The Pound accordingly strengthened against the Euro, Australian Dollar and New Zealand Dollar. If this week’s UK...

Pound Sterling On Monday the Pound was supported by an impressive UK Manufacturing PMI. However, Sterling shed these gains on Tuesday after the nation’s Construction PMI registered a steeper than anticipated decline. Tomorrow’s Services/Composite PMI will inspire another bout of Pound movement ahead of the Bank of England interest rate...

The Euro is holding steady against the majority of its peers in a day of light trading caused by the closure of US markets for the Thanksgiving holiday period. The single currency pushed closer to a one-month high against the ‘Greenback’ following the release of better than expected Eurozone inflation data and as a separate report...

Pound Sterling GBP/USD– Trading in the Region of 1.6332 The Pound is set to make a fourth-weekly gain against the US Dollar as investors expect a report due for release by the Bank of England later in the session will show that the number of mortgages approved in October increased. The currency remains buoyed by the positive GDP data...

Pound Sterling GBP/USD– Trading in the Region of 1.6337 With yesterday’s reports confirming that the UK economy expanded by 0.8 per cent in the third quarter the Pound surged against its peers and largely retained gains overnight. In a quiet UK news day Sterling fluctuations could be inspired by developments in the Eurozone. US...

The Canadian Dollar has slumped to its lowest-level since December 2009 against the Pound after GDP data showed that the UK economy is expanding and as oil prices declined for a fourth consecutive day. After the GDP data was released earlier in Wednesday’s session the Pound climbed to its highest level since January against the US...

Exchange Rate News: UK GDP & US jobless set to be main market movers Pound Sterling The Pound is likely to see volatility following the release of data which is expected to show that the UK economy expanded at its fastest pace in three-years in the third quarter. The currency came under some pressure yesterday after Bank of...

The Thai Baht has tumbled to a fresh low against the US Dollar and fell against many of its most traded peers as anti-government protests in Thailand intensify. Over 100,000 protestors have besieged a number of government ministries and look set to escalate the situation after calling on the nation’s civil servants to join their effort...

Pound Sterling GBP/USD– Trading in the Region of 1.6189 The Pound is likely to remain little moved throughout today’s session due to a lack of data releases. Sterling could be impacted as Bank of England Governor Mark Carney and other policy makers testify to parliament’s Treasury committee. US Dollar USD/EUR – Trading in the...

As anti-government protests gather momentum in Thailand the Baht has tumbled against peers like the US Dollar and Pound. Although the Pound declined as UK mortgage approvals data fell short of expectations, the Baht edged lower against its British counterpart and hit a 10-week low against the US Dollar as protesters stormed the Ministry of...

Pound Sterling GBP/USD– Trading in the Region of 1.6205 Before UK mortgage approvals data was published the Pound was trading close to a four-week high against its US counterpart. With influential news thin on the ground today Sterling volatility may be restricted in the hours ahead. US Dollar USD/EUR – Trading in the Region of...

Although the Euro strengthened against the majority of its peers (posting particularly notable gains against the Yen and Australian Dollar) as a result of stronger-than-anticipated German business confidence data and a German growth report which met economists' expectations, the Swedish Krona still advanced on its European cousin during the...

Pound Sterling GBP/USD– Trading in the Region of 1.6207 The GBP/USD pairing is ending the week on a high having jumped yesterday in response to strong UK factory order and trade balance data. With a Bank of England official asserting that the UK would need to keep interest rates at record lows for the next few years the Pound is likely...

Today the ‘Loonie’ extended declines against the US Dollar as US initial jobless claims fell by more than forecast, adding to the case for the Federal Reserve tapering stimulus in the first half of next year. The commodity-driven currency was also feeling the pressure as growth in China’s manufacturing sector slowed by more than...

Pound Sterling GBP/EUR – Trading in the Region of 1.1988 Sterling rallied against its peers yesterday as minutes from the Bank of England’s latest policy meeting emphasised that the UK’s economic recovery is gathering momentum. The British asset continued to trade in the region of a 10-month high against the Euro before UK trade data...

While the prospect of encouraging services/manufacturing output reports for Germany and the Eurozone have shored up the Euro for much of the local session, the common currency posted widespread declines as industry experts intimated that the European Central Bank may deploy negative interest rates. While ECB Board Member Joerg Asmussen...

Pound Sterling GBP/EUR – Trading in the Region of 1.1921 As European trading began the Pound was within touching distance of a three-week high against the ‘Greenback’. Minutes from the latest Bank of England policy meeting will be instrumental in the GBP/USD pairing’s movement today, but US retail sales data will also have a...

As the price of crude oil slumped to a five-month low, the currency's of nations which rely on the commodity declined. Russia’s Ruble posted its first decline against the US Dollar for five days as oil tumbled, and was also negatively affected by an unexpected fall in Russia’s industrial output. Economists expected output to...

Pound Sterling GBP/EUR – Trading in the Region of 1.1919 Prior to the publication of minutes from the lasted Bank of England Policy meeting, the Pound was holding fairly steady against the Euro and was edging towards a three-week high against the US Dollar. In the absence of UK economic news, GBP/EUR volatility is likely to be inspired...

As the economic crisis in the Eurozone deepened, investors searching for shelter from the storm turned to the Swiss Franc as a European haven. Consequently the Swiss National Bank opted to set a cap of 1.20 Francs per Euro back in 2011. But with fears of a total currency-bloc collapse receding and the Euro regaining its footing in the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1955 Despite data revealing a decline in UK house prices in November the Pound was little changed against its US counterpart as the European session got underway. Sterling was able to ease higher against the Euro however after the release of current account figures for the Eurozone....

During North American trading the US Dollar declined against the majority of its higher risk rivals as data supported the case for the Federal Reserve maintaining an accommodative fiscal policy for the foreseeable future. In a development which is likely to please Federal Reserve Chairman candidate Janet Yell, a gauge of US industrial...

Pound Sterling GBP/EUR – Trading in the Region of 1.1954 A less-than-inspiring retail sales report for the UK might have worn on the Pound during the European session, but the belief that the Bank of England will need to increase interest rates earlier than projected kept Sterling trading stronger against the Euro. US Dollar USD/EUR...

For the first time in nearly two months the Yen has slumped beyond the psychological 100 Yen per Dollar level as disappointing growth data for Japan increased the likelihood of the Bank of Japan implementing additional stimulus. Japanese growth slowed from 0.9 per cent in the second quarter to 0.5 per cent in the third. Consumer spending...

Pound Sterling GBP/EUR – Trading in the Region of 1.1917 While the Pound continues to hold its own against a struggling Euro, the British asset has fallen against the US Dollar as UK retail sales data failed to meet expectations, intimating that the UK’s economic recovery may not be as stable and broad-based as some were beginning to...

Today major currency pairings experienced notable movement as several influential pieces of data were published. The Euro, in particular, fluctuated against its currency counterparts. While the Euro had largely recovered losses sustained against its peers in the wake of the European Central Bank’s decision to cut rates last week, the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1828 The Pound began the local session little changed against its main peers having posted widespread losses yesterday. With employment figures showing that the UK economy added more positions than expected in September and that the unemployment rate dipped to 7.6 per cent, Pound...

While the ‘Loonie’ advanced yesterday as investors speculated that improving US growth would support Canada’s economic recovery, the commodity-driven asset slumped against the ‘Greenback’ today as a US business gauge impressed and lent the US currency support. After the US Chicago Fed activity index came in at 0.14 in September,...

Pound Sterling GBP/EUR – Trading in the Region of 1.1909 Before UK consumer price inflation figures were published the Pound was softer against the US Dollar but holding steady against the Euro. Economists expected prices to slide from 2.7 per cent to 2.5 per cent in October, still considerably above the Bank of England’s 2 per cent...

With economists speculating that last week’s extensive Euro declines were over the top, the common currency was able to recover some losses against its US peer. The Euro also advanced on the Pound ahead of tomorrow’s German and UK inflation data. Last week the Euro floundered against the majority of its most traded peers as the...

Pound Sterling GBP/EUR – Trading in the Region of 1.1965 While the Pound retained much of last week’s gains against the Euro over the weekend, the British asset is likely to come under pressure as investors speculate on the outcome of the Bank of England’s quarterly inflation report and UK growth forecasts. US Dollar USD/EUR –...

While the unexpected developments in the Eurozone and the surprisingly strong growth data from the US inspired considerable market movement this week, a domestic report saw the Swedish Krona slump against all of its most traded currency peers during the European session. Although the Euro broadly weakened in response to yesterday’s...

Pound Sterling GBP/EUR – Trading in the Region of 1.1993 The Pound was happily heading towards five-day gains against the Euro and US Dollar prior to the release of UK trade data. However, with the report showing that the UK’s trade deficit unexpectedly increased and separate figures revealing a surprising decline in domestic...

Prior to the publication of South African manufacturing data the Rand was fluctuating against the US Dollar. Anticipation surrounding the European Central Bank’s rate decision also wore on the commodity-driven Rand as the local session progressed. Before the day’s major news was published, market researcher Theuns de Wet asserted;...

Pound Sterling GBP/EUR – Trading in the Region of 1.1899 While the Pound was able to hold on to gains posted against the US Dollar in the wake of yesterdays positive UK industrial/manufacturing production figures, the British asset softened against the Euro as investors deemed the common currency’s recent drop excessive. However, if...

Pound Sterling GBP/EUR – Trading in the Region of 1.1915 Over the last few days the UK’s economic outlook has been brightened by stronger-than-anticipated construction and services PMI. The Pound has consequently enjoyed a bullish relationship with several of its main rivals and begins trading close to a four-week high against the...

With speculation surrounding the possibility of a European Central Bank rate cut growing amid increasing fears that the Eurozone’s tentative return to growth could be faltering, investors have turned to lower-risk assets and the Euro has dropped while the Yen has rallied. During the European session news that the European Union has...

Pound Sterling GBP/EUR – Trading in the Region of 1.1839 Sterling began the local session a little softer against the US Dollar but largely unchanged against the Euro. The British asset posted notable gains yesterday as UK construction PMI showed greater-than-forecast expansion, and the Pound could climb further in the hours ahead as UK...

While the Euro slumped to a six-week low against the US Dollar as last week’s disappointing Eurozone data led investors to speculate on the likelihood of the European Central Bank issuing a rate cut, the common currency was later able to stage an impressive rebound against its North American peer. Although not all the news to emerge...

Pound Sterling GBP/EUR – Trading in the Region of 1.1806 While the Pound began local trading softer against a bolstered US Dollar, the British asset advanced against several of its most traded peers as UK construction PMI for October exceeded estimates by rising to 59.4 from 58.9 rather than falling to 58.7 as expected. US...

During North American trading the Canadian Dollar continued to feel the benefits of yesterday’s Canadian GDP data, which showed slightly greater growth then forecast. The report showed that the Canadian economy expanded by 0.3 per cent in August, month-on-month, rather than the 0.1 per cent expected. In the immediate aftermath of...

Pound Sterling GBP/EUR – Trading in the Region of 1.1827 Although UK manufacturing PMI slipped in October, it remained well above the 50 mark separating growth from contraction and the Pound was able to retain yesterday’s advance against the Euro after the data was released. Sterling remained softer against a bullish US Dollar....