December 2020 News Archive

<h3>Pound (GBP) </h3> The Pound (GBP) rose today following the announcement that key UK regulator had approved the Oxford AstraZeneca Covid-19 vaccine. As a result, Sterling investors are confident that the new vaccine, which requires a normal form of refrigeration and is easier to transport, could provide a lifeline for the...

<h3>Pound (GBP) </h3> The Pound (GBP) stabilised today as Brexit uncertainty has been tempered by the EU’s Chief Negotiator, Michel Barnier, who said that a Brexit deal could occur in just a matter of days. This follows a significant concession from Prime Minister Boris Johnson on several key clauses which had previously...

<h3>Pound (GBP) </h3> The Pound (GBP) rose today on a mixture of positive news about easing Covid-19 infections, according to the NHS Track-and-Trace app and encouraging news about a UK-EU post-Brexit trade deal being on the horizon. Ireland’s Foreign Minister, Simon Coveney, said that a UK-EU trade deal could emerge in a...

Pound Sterling (GBP) Investors continued to sell the Pound today following Tuesday’s plummet. Markets remained anxious amid revived hard Brexit fears and expectations for a 2020 filled with ongoing Brexit uncertainty. UK retail sales will be published tomorrow, but Brexit and Bank of England (BoE) will be more influential. The Pound’s...

<h2>Pound Sterling (GBP) Rises Ahead of UK Election</h2> On Wednesday, the Pound (GBP) edged higher against a handful of currencies as traders continued to remain optimistic that the Conservative Party would secure a majority in Thursday’s election. However, a key opinion poll from YouGov revealed the Tories’ lead...

<h2>UK Election Optimism Buoys Pound Sterling (GBP)</h2> The Pound (GBP) received an upswing of support on Wednesday as confidence the Conservatives would secure a win in next week’s election increased. In YouGov’s latest poll Boris Johnson’s party boasted a nine-point lead against Jeremy Corbyn’s Labour which...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell against many of its competitors today after the UK Markit manufacturing PMI fell for its seventh month in a row, leaving Sterling investors feeling increasingly jittery over the health of the British economy. UK political developments also remained in focus, with markets...

Could the Euro to US Dollar (EUR/USD) exchanged rate be starting December off on a bullish note? After weeks of mixed or poor performance in November, the pair saw a surge in demand on Monday as investors digested the latest Eurozone and US ecostats. It follows last week’s session, in which EUR/USD struggled for direction, opening the...

Pound Sterling (GBP) The Pound (GBP) was weakened today on the news that Prime Minister Theresa May has reduced her Cabinet ministers’ Christmas break by five days in order to prepare for a possible ‘no-deal’ Brexit scenario, leaving GBP investors feeling skittish into the New Year. However, Pound exchange rates have managed to...

Pound Sterling (GBP) The Pound (GBP) was weakened today after the release of disappointing UK inflation figures for November, which showed a rate of 0.0% after last month’s 0.1% rise, dampening market sentiment. However, today’s data publications have been overshadowed by Pound (GBP) investors’ focus on Brexit developments,...

Pound Sterling (GBP) The Pound (GBP) was hit today by the news that British Prime Minister Theresa May has decided to delay Tuesday’s crucial vote on her Brexit withdrawal agreement. This has caused a further divide between the Government and Parliament over concerns that it shows an increasing lack of confidence in her proposed Brexit...

Pound Sterling (GBP) Decent UK data in recent sessions has done little to support Pound strength, as the British currency has struggled to hold its ground against some major currencies and has fallen against others. Thursday’s UK data was mixed and gave investors little reason to believe Britain’s economic outlook was improving....

Pound Sterling (GBP) Some better-than-expected UK wage growth data on Wednesday helped the Pound to recover from its worst levels against some major currency rivals throughout the day, even though analysts were overall unimpressed with the job market report. Britain’s average earnings excluding bonuses came in at 2.3%, above the...

Pound Sterling (GBP) Demand for the Pound has been anything but firm in recent sessions. The British currency has seen wide fluctuations since a deal on the Brexit divorce proceedings was blocked by the Northern Ireland DUP Party on Monday. With the issue of the border between Ireland and Northern Ireland still causing contention in...

Pound Sterling (GBP) The Pound has been an extremely mixed currency during trading today, having been generally unsettled by the morning’s public sector net borrowing results for November. On the month, a greater-than-expected deficit expansion has been seen, in the form of a move from -4.32bn to -12.21bn. This news initially triggered...

Pound Sterling (GBP) The Pound has managed a surprise rally during trading today, advancing considerably despite the handicap of no direct UK data. With instability elsewhere in the markets due to debt concerns, domestic political turmoil and commodity price shifts, the Pound may simply standing out as a more stable-looking currency when...

Pound Sterling (GBP) Sterling saw another surprising rally on Thursday after advancing due to OPEC’s plans to cut oil production by 1.2m. As prices of oil are closely correlated to global inflation, the prospect of higher inflation in the long-term benefitted the Pound. Inflation is already set to spike in the UK due to Sterling’s...

Pound Sterling The morning’s Nationwide House Price report has little impact on the Pound as the annual decrease in house price gains from 8.5% in November to 7.2% in December was expected by economists. However, the British currency did strengthen against the Euro and US Dollar as Greek concerns weighed on the former asset and...

Pound Sterling The Pound drifted lower against almost all of its main currency counterparts on Monday as a lack of UK data and the prospect of slowing domestic house prices took a toll on the British asset. If tomorrow’s Nationwide house price report does indeed show that the pace of property price gains eased in December, the Pound could...

Pound Sterling The expansion of the UK’s current account deficit raised concerns regarding the strength of the nation’s economic recovery and the Pound accordingly softened against almost all of its most traded currency counterparts. Sterling is likely to trend in a narrow range until after Christmas. US Dollar On Tuesday the US...

In general, the currency market has seen minimal activity as traders settle down for the Christmas period. However, the few active traders have reacted to certain events and, therefore, it is safe to assume that fractional movement would be greater proportionally. Pound Sterling (GBP) Exchange Rate Edges Lower on Cyber Anxieties Despite a...

Pound Sterling The Pound lost ground against several of its most traded currency counterparts at the beginning of the week as the UK’s Rightmove house price report showed the steepest monthly drop in property prices on record. If tomorrow’s British Consumer Price Index confirms that inflation eased from 1.3% to 1.2% the Pound will come...

Pound Sterling A less-than-impressive UK Construction Output report left the Pound trending in a softer position against several of its rivals on Friday. The British currency is likely to experience extensive volatility next week following the release of the Bank of England’s meeting minutes, UK employment figures and the nation’s retail...

Pound Sterling Over the course of Thursday’s European session, Sterling lost ground against the majority of its currency counterparts. The British currency came under pressure as a report showed a decline in UK house price growth. The GBP/EUR exchange rate softened and the GBP/USD pairing posted additional declines in response to the US...

Pound Sterling (GBP) The Pound Sterling strengthened against the majority of its most traded currency rivals as a result of the Bank of England suggesting that UK households could handle incremental rate increases. A slight improvement in employment confidence has also bolstered the Sterling uptrend. Euro (EUR) The common currency...

Pound Sterling Although the Pound softened against several of its most traded currency counterparts following the publication of the UK’s manufacturing/industrial production reports, the British currency was able to recover some of its losses as trading continued. NIESR’s growth estimate for November came in at 0.7%, unchanged from the...

Pound Sterling Prior to the publication of the Bank of England’s GfK Inflation report for the next 12 months, the Pound was trending in a slightly softer position against both the Euro and US Dollar. The British asset came under pressure on Thursday after the Bank of England chose to leave interest rates and asset purchases unchanged....

Pound Sterling Before the Bank of England (BoE) delivered its interest rate decision, the Pound was holding on to previous gains against the Euro and was little-changed against the US Dollar. As no alterations to fiscal policy are anticipated, Sterling movement may be limited today. That being said, the European Central Bank’s (ECB’s)...

Pound Sterling Over the course of the European session the Pound advanced to a three-week high against the Euro as investor demand for the British asset increased following a stronger-than-anticipated UK services report. The GBP/EUR pairing climbed to a high of 1.2733, jumping by 0.7% on the day’s opening levels. The Pound was also...

Pound Sterling Over the course of the European session the Pound Sterling exchange rate fluctuated in response to a disappointing UK Construction PMI report. The index of construction output fell to its lowest level in more than a year in November. If tomorrow’s UK Services PMI also falls short of expectations further Sterling losses could...

Pound Sterling A stronger-than-expected UK Manufacturing PMI helped the Pound advance on several of its most traded currency counterparts. The British asset climbed against both the Euro and US Dollar over the course of the European session, with the GBP/EUR exchange rate achieving 1.26 and the GBP/USD exchange rate rising above 1.57....

Pound Sterling GBP/USD– Trading in the Region of 1.6477 The Pound pushed beyond the 1.20 mark against the Euro after data showed that UK house prices rose for an 11th consecutive month in December. US Dollar USD/GBP – Trading in the Region of 0.6068 The US Dollar touched a five-year high against the Japanese Yen as optimism...

Pound Sterling GBP/USD– Trading in the Region 1.6329 Although the Pound began the European session just shy of a two-year low against the US Dollar, the British currency could advance in the hours ahead as a result of better than forecast UK mortgage approvals figures. US Dollar USD/GBP – Trading in the Region of...

With over one thousand anti-government protestors swarming around the Thai Prime Minister’s Bangkok home the Baht tumbled to a three year low against the US Dollar. Fears that the social unrest will spark political upheaval and subsequent economic damage left the Baht in a weaker position against the majority of its most traded currency...

Pound Sterling GBP/USD– Trading in the Region 1.6365 Last week’s encouraging UK economic data left the Pound riding high, and the British asset was able to brush a two-year high against the US Dollar this morning as a Bank of England official attempted to reduce housing bubble concerns. US Dollar USD/GBP – Trading in the Region...

As a volatile week draws to a close the Lira was struggling to regain losses after falling to a record low in response to high-profile corruption concerns. The Lira plunged against all of its major peers and hit a record low of 2.0970 after shedding 1.2 per cent. After 14 members of the Turkish government were dismissed in the ongoing...

Pound Sterling GBP/USD– Trading in the Region 1.6338 Better-than-forecast UK growth data helped the Pound recover losses during European trading. Sterling had previously slipped against peers like the Euro as a measure of UK consumer confidence declined. US Dollar USD/GBP – Trading in the Region of 0.6120 In the wake of the Bank...

The ‘Loonie’ approached a three-year low against its US counterpart today as investors continued to respond to the Federal Open Market Committee's surprising stimulus decision. The commodity-driven asset also softened against several of its most traded peers as commodities fluctuated. Meanwhile positive UK retail sales figures...

Pound Sterling GBP/USD– Trading in the Region 1.6372 In the hours ahead the pound could trim gains against the Euro as a result of a slightly mixed UK retail sales report. Furthermore, with the US Dollar enjoying a bullish relationship with its rivals as a result of the FOMC decision GBP/USD advances may be limited. US...

The Federal Open Market Committee’s long awaited policy announcement is just hours away, and after fluctuating during the European session the US Dollar strengthened against the Yen as speculation surrounding the odds of a reduction in stimulus reached new heights. The ‘Buck’ also rallied against the Euro in spite of an increase in...

Pound Sterling GBP/USD– Trading in the Region 1.6282 Sterling edged higher against the US Dollar as the local session began and investors looked ahead to the day’s UK employment data. Economists are expecting that the UK’s unemployment rate held at a four-year low in October but a surprising result could trigger Pound volatility....

Although the financial world is looking to the US and the upcoming Federal Open Market Committee announcement, other news has been inspiring currency movement over the last few hours. For example, the Euro advanced on all of its most traded rivals as a result of impressive ZEW economic sentiment surveys for Germany and the Eurozone. ...

Pound Sterling GBP/USD– Trading in the Region 1.6321 Yesterday the Pound posted a modest advance against the US Dollar but softened slightly against the Euro. With UK inflation data and house price figures failing to match estimates Pound volatility could occur in the hours ahead. US Dollar USD/GBP – Trading in the Region of...

During the North American session the Canadian Dollar posted modest movement against peers like the ‘Greenback’ and Pound as investors digested some positive US data and weighed the odds of the Federal Reserve tapering stimulus on Wednesday. The commodity-driven asset closed last week in the region of a three-year low against its US...

Pound Sterling GBP/USD– Trading in the Region 1.6326 A UK housing report may have shown a decline in house prices but Sterling was still able to sneak away from close to a two-week low against its North American peer as European trading began. The Pound was little changed against the Euro however ahead of tomorrow’s UK inflation...

The Australian Dollar is on course to make its longest run of weekly losses in 28 years after the Reserve Bank of Australia continued his efforts to talk down the currency which he deems as ‘overvalued’. Economists are now predicting that the GBP/AUD rate reach the 2.00 mark and against the US Dollar the ‘Aussie’ could fall as low...

The Canadian Dollar fell to a session low against its US relation following the release of data which bolster demand for the ‘Greenback’ and did little to dispel speculation that the Federal Reserve will opt to reduce its monetary easing programme when policy makers gather for next week’s policy meeting. Data released by the US...

Pound Sterling The Pound snapped its largest decline in two weeks against the US Dollar and halted its slide against the Euro as investors wait for Chancellor of the Exchequer George Osborne to stand before a parliamentary committee and explain his autumn statement. US Dollar The US Dollar found support yesterday as news broke...

The ‘Greenback’ has rallied against the Pound and has made its first gain in five days against other peers after investors raised their bets that a budget deal reached between US politicians will increase the likelihood of the Federal Reserve cutting its $85 billion per month monetary easing programme at next week’s policy meeting....

Pound Sterling Sterling is not expected to make much movement today as relevant or important economic data releases are lacking. The next piece of UK data is not due for release until Friday with economists expecting the report to show that construction output increased by 1.6% in October. US Dollar The US Dollar halted its...

Although the ‘Greenback’ was supported against higher-risk peers as a prominent Fed official added weight to the case for the Federal Reserve tapering stimulus before the close of the year the emerging-market Peso rallied in response to political developments. Mexico’s currency rose to a six-week high of 12.8768 against its US...

Pound Sterling GBP/USD– Trading in the Region 1.6428 The Pound advanced to a two-year high against the US Dollar as UK house prices rose and investors looked ahead to today’s UK trade balance report. Domestic GDP data is also likely to inspire Sterling volatility. US Dollar USD/EUR – Trading in the Region of 0.7273 After Fed...

After slumping to an almost 4 ½ year low against the US Dollar last week in the wake of strong US employment figures and the increasing odds of the Federal Reserve tapering stimulus in December, the Rand was able to claw back some ground during local trading. Although the Rand was far from buoyant it was able to push back below the 10.50...

Pound Sterling GBP/USD– Trading in the Region 1.6354 Although tomorrow’s UK industrial production figures are expected to show a slowing in output the Pound was little-changed against the Euro and US Dollar ahead of BoE Governor Mark Carney’s speech. US Dollar USD/EUR – Trading in the Region of 0.7296 As the week began the US...

All eyes may be focused on the US and the publication of the highly influential US non-farm payrolls report, but other events have also had an impact on the currency market today. For example, the Norwegian Krone tumbled against the Euro as domestic industrial production dropped in October. The level of industrial output in Norway...

Pound Sterling GBP/USD– Trading in the Region 1.6338 Early into the European session the Pound was able to recover losses against the Euro as UK house price data showed that house prices rise by more than expected in November. But with the influential US employment report still to come notable market movement could occur. US...

Pound Sterling GBP/USD– Trading in the Region 1.6392 After slipping against its major rivals yesterday following a mildly disappointing UK services PMI, Sterling was holding steady against its US counterpart and edged slightly lower against the Euro as the European session opened. With a stream of influential events (including the Bank...

Earlier today the Pound edged away from a two-year high against the US Dollar as a measure of the UK services sector came in slightly below the expected level. While the gauge stayed well above the 50 mark separating growth-from-contraction the result was a little disappointing, particularly given the positive UK manufacturing and...

Pound Sterling GBP/USD– Trading in the Region of 1.6371 Over the last couple of days the Pound has put in a valiant performance as stronger-than-anticipated UK construction and manufacturing figures helped the currency climb. However, with UK services PMI dipping by more-than-expected Sterling could trim gains in the hours ahead. US...

The Rand adopted a bearish relationship with the majority of its most traded rivals today as South Africa's current-account deficit unexpectedly widened. While economists had forecast a shortfall of 6 per cent of GDP, following a revised shortfall of 5.9 per cent in the second quarter, the figure actually came in at 6.8 per cent of GDP....

Pound Sterling GBP/USD– Trading in the Region of 1.6410 In the wake of yesterday’s positive UK news the Pound broadly strengthened, hitting multi-month and multi-year highs against several of its peers. This morning UK construction PMI has also come in considerably above estimates and is likely to push Sterling higher still. US...

In a comparatively heavy news day the currency markets have seen some notable movement. It's been a good trading day for the Pound in particular as stronger-than-expected UK manufacturing PMI saw the British currency record widespread gains. The Euro was also able to advance on the US Dollar as final manufacturing reports for France,...

Pound Sterling GBP/USD– Trading in the Region of 1.6410 The Pound was flying high as a report revealed a nationwide increase in UK house prices and enjoyed a further surge against the US Dollar as a measure of British manufacturing exceeded estimates for an increase to 56.1 by coming in at 58.4, another strong result for the UK economy....