February 2018 News Archive

<h2>Pound (GBP) </h2> The Pound rose today as confidence in the UK economy continues to grow following Prime Minister Boris Johnson’s outline of a lockdown exit strategy earlier this week. As a result, GBP investors are now more optimistic than before that the nation could be one of the first countries to recover its economy...

<h2>Pound (GBP) </h2> The Pound continued to rise today owing to growing confidence in the UK’s Covid-19 vaccination programme. Last week saw the UK hit a 15-million milestone in vaccinations, buoying the outlook for the nation’s economy as Downing Street considers the next steps towards easing lockdowns. Prime Minister...

<h2>Pound (GBP) </h2> The Pound rose today as 18.4% of the UK population have received at least one dose of the Covid-19 vaccine. As a result, UK markets are more optimistic that mass vaccination could help the nation’s economy recover in the months ahead. However, today saw the publication of the latest UK BRC Retail Sales...

The Euro to US Dollar (EUR/USD) exchange rate has been tumbling since markets opened this week. Investors continue to become more anxious about the Eurozone outlook as the bloc’s coronavirus situation remains gloomy, while the US Dollar benefits from Euro weakness and stronger than expected US data. After opening last week at the level...

Pound Sterling (GBP) The Pound saw mixed movement today. While Sterling initially continued to benefit from UK coronavirus vaccine hopes, the British currency ultimately weakened again as markets anticipated tomorrow’s UK services PMI report. Tomorrow will see the publication of some of this week’s key UK services PMI data from...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) traded negatively against many of its peers today as no-deal Brexit fears continued to weigh on market appetite for Sterling. Markets have always remained cautious due to the spread of the coronavirus, leaving investment in the Pound markedly subdued today. Analyst at MUFG...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) plummeted against many of its peers today after Downing Street announced that it could walk away from UK-EU trade talks as early as June. As a result, Sterling has suffered from investors fearing a no-deal scenario between the UK and the EU by the end of the transition period,...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) fell against many of its peers today as post-Brexit trade talks between the UK and the EU continue to come under strain. This follows comments by Michel Barnier, the European Union’s Chief Brexit negotiator, who said that he expects trade talks to be ‘very difficult’....

<h2>Pound Sterling (GBP) Rebounds on Slight Boost in Risk Appetite</h2> The Pound (GBP) rebounded on Tuesday after markets found stability despite worries about Covid-19. Investors were able to move away from the safe-haven USD which had previously sent the British currency lower. The slight increase in risk appetite was the...

<h2>Pound Sterling (GBP) Rallies on Upbeat PMI Figures</h2> The Pound (GBP) was able to edge higher against a handful of currencies after upbeat UK PMI data showed the UK’s private sector saw its joint-fastest private sector output since September 2018. Added to this, the manufacturing sector saw the fastest growth in...

<h2>Pound Sterling (GBP) Stumbles despite Upbeat UK Consumer Spending</h2> The Pound (GBP) suffered losses during today’s session despite the release of better-than-expected retail sales data. Data showed British consumers began spending again at the start of the year after a disappointing last few months of 2019. The...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) has performed strongly today following the release of the UK ILO Unemployment Rate report, which confirmed consensus and remained at a record low of 3.8%. However, December’s worse-than-expected UK average earnings report left some Sterling traders feeling anxious, as this could...

<h2>Pound Sterling (GBP) Slides as UK and EU Will ‘Rip Each Other Apart’</h2> On Monday, Prime Minister Boris Johnson’s spokesman said that the UK does not need any special arrangements in its future relationship with the EU. The spokesman also added that the UK wanted a relationship based on friendly cooperation and that...

<h2>Pound Sterling (GBP) Mixed After Upbeat Q4 UK Growth</h2> Sterling (GBP) exchange rates were mixed, although yesterday’s upbeat GDP growth data revealed that while quarter-on-quarter growth stagnated, annual growth was better than forecast. This provided GBP with a slight boost as it reassured investors that the Bank...

<h2>Weak Economic Growth Leaves Pound Sterling (GBP) Under Pressure</h2> Sterling (GBP) remained under pressure today after Q4 2019 growth data showed the economy stagnated as the country wrestled with an ongoing Brexit deadlock. Data also showed that over the course of the year, the economy grew by 1.4%, up from 1.3%...

<h2>Pound Sterling (GBP) Buoyed by Strong Services PMI</h2> On Wednesday, the Pound (GBP) was buoyed following the release of a strong service sector PMI, which rose to the highest level since September 2018. However, the currency also remained close to a six-week low after Prime Minister Boris Johnson took a hard stance on...

<h2>Pound Sterling (GBP) Buoyed on Brexit Optimism</h2> Today Sterling remained stronger following some Brexit optimism, and extended its gains as investors bet that a no-deal was less likely and that Article 50 would be extended. This morning, when discussing her talks in Brussels, the Prime Minister Theresa May...

<h2>Pound Sterling (GBP) Slides as UK Annual Growth Hits Six-Year Low</h2> This morning saw a slew of disappointing economic releases for the Pound, including data showing that UK annual growth had hit a six-year low in 2018 as the economy only expanded by 1.4%. All main sectors of the UK economy shrank and the...

<h2>Pound Sterling (GBP) Exchange Rates Slip Following Construction PMI Data</h2> Today saw the release of the Markit construction PMI, which revealed a slip from the previous 52.8 to 50.6, leading to Pound weakness. Construction rose at its slowest pace for ten months, with Duncan Brock, Group Director at the Chartered...

Pound Sterling (GBP) Sterling has traded in a narrow range against the Euro and US Dollar today, although an advance has been seen in the GBP/CAD exchange rate. The Pound has been negatively influenced by a prediction from Samuel Tombs, Chief UK Economist at Pantheon Macroeconomics. Looking at the Bank of England’s (BoE) monetary...

Pound Sterling (GBP) Although the Pound has appreciated slightly against the US Dollar on 22nd February, elsewhere it has dropped by -0.3% against the Euro and by over 0.4% against the Australian Dollar and New Zealand Dollar. This generally poor performance comes after news that UK GDP growth readings have been revised down in Q4...

Pound Sterling (GBP) The Pound has advanced by 0.4% against the Euro and by a lesser amount against the Euro today, in addition to seeing substantial rises against other currencies. Sterling has made such a strong performance because of the surprising news that the UK could be granted EU single market access after Brexit, which goes...

Pound Sterling (GBP) The Pound has traded tightly against the Euro and dropped by -0.3% against the US Dollar on 19th February, following a warning from MEP Guy Verhofstadt. Mr Verhofstadt has warned about the unpalatability of UK plans to reduce the rights of EU citizens who enter the UK during the transitional period,...

Pound Sterling (GBP) The Pound was able to advance against the Euro and US Dollar on 14th February, although was mainly down to weakness in the other two currencies. UK data wasn’t especially positive; in addition to the IMF warning about lower UK productivity levels, Foreign Secretary Boris Johnson’s Brexit defence speech had a...

<h3>Sterling</h3> The Pound (GBP) found itself sliding against the majority of its peers on Wednesday morning following the release of the UK’s latest house price figures Figures published by Halifax this morning revealed that UK house prices stumbled an additional 0.6% last month, with Brexit anxiety appearing to be major...

Pound Sterling (GBP) The Pound opened trading on Tuesday in a relatively stable position, but soon fell across the board when German MEP Manfred Weber declared that there was little clarity about Brexit. Weber was specifically referring to the UK government’s sometimes conflicting messages about Brexit desires; these concerning...

Pound Sterling (GBP) UK political jitters eased slightly on Thursday and markets became more focused on next week’s highly anticipated Bank of England (BoE) policy decision, making the Pound more appealing to investors despite mixed UK ecostats in recent sessions. Thursday’s most notable news was the publication of Britain’s January...

Pound Sterling (GBP) Pound Sterling has tumbled on new fears over the looming start of the UK’s Brexit. Rumour has it that the government expects Scotland to demand another referendum on its independence from the United Kingdom. Considering voters in Scotland chose by a solid majority to remain a part of the EU, investors fear that...

Pound Sterling (GBP) The Pound has been an unstable option for investors today, having risen by 0.3% against the US Dollar but dropped by -0.4% against the Euro. Recent UK domestic data, inflation rate stats and earnings data, remains from previous days as dominant factors. Ending the UK’s week will be Friday’s retail sales figures...

Pound Sterling (GBP) The Pound has rallied against peers today, ahead of a potentially uncomfortable run of UK inflation and earnings figures. Inflation is expected to rise on Tuesday, but earnings on Wednesday are predicted to remain at their previous level of growth. If earnings happen to drop, this could well weaken Pound demand due to...

Pound Sterling (GBP) While major UK developments have taken place recently, Sterling has weathered any negative effects, rising by 0.4% against the Euro and 0.3% against the US Dollar regardless. The latest news has been that the key Article 50 bill, which must be approved to trigger Brexit, has been voted through the House of Commons for...

Sterling Pound Sterling is beginning to recover from some earlier shocks to the system, although overall the UK unit is in a poor state against its peers. Numerous surveys and reports regarding the impact of Brexit have been released today and most of them make for dovish reading. Over half of UK firms are expecting to have to raise prices...

Sterling The Pound (GBP) rallied against the other majors this afternoon after an EU report on the consequences of Brexit was leaked to the media. The report, created by officials at the EU’s economic and monetary affairs (Econ) suggests that the City of London should be protected in Brexit negotiations in order to prevent unnecessary...

Pound Sterling (GBP) The Pound has not been particularly strong today, as while it has made a few scattered advances against the usual peers, for the most part, it has trended in a tight range due to gathering ‘Brexit’ concerns. The latest in the long line of UK Referendum developments has been the news that net migration into the UK...

US Dollar to Australian Dollar (USD/AUD) Conversion Rate Predicted to Tick Higher on Safe-Haven Demand The US Dollar to Australian Dollar (USD/AUD) exchange rate strengthened by around 0.3% on Wednesday afternoon. Despite the fact that US economic data produced disappointing results today, the US Dollar edged higher versus many of its...

Pound Sterling (GBP) The British Pound has seen significant price swings during Wednesday’s European session. Initial gains were pared by mixed labour market data, with record-high employment change countered by tepid wage growth and rising unemployment. However, as the session progressed the Pound clawed back losses and posted daily...

Mixed Inflation Data sees GBP Turn Bearish Although the Pound initially saw a boost on the back of the latest Consumer Price Index report, thanks to a modest uptick of 0.3% in baseline inflation, the currency has since turned increasingly bearish. As the core CPI showed a larger dip than expected and inflation remains a long way from the...

<b>GBP Recovers Ground with Stronger Construction Output</b> Correctional trading has been helping the Pound regain some of its lost ground today as traders conclude that recent declines might have been oversold. Confidence in Sterling has equally been boosted by the latest UK construction output figures, which showed a decent...

<h3>Weaker UK Production Data Fails to Dent GBP</h3> Despite December’s UK Industrial and Manufacturing Production figures proving worse than anticipated, with output contracting on the month and the year, the Pound has remained on a largely stronger footing against rivals today. While the odds of the Bank of England (BoE)...

<h3>GBP Struggles to Rally as Trade Deficit Narrows</h3> Stronger-than-expected British retail sales and a narrowed visible trade deficit have helped to bolster Pound Sterling on Tuesday morning, suggesting that the domestic economy is somewhat escaping the influence of global slowdown pressures. However, as debate continues to...

Pound Sterling Earlier this week the Pound achieved an eight-week high against the US Dollar and a seven-year high against the Euro. The British currency pared some of these gains towards the close of the week as the UK’s GfK Consumer Confidence index printed at 1 instead of 2, as anticipated. US Dollar Bullish comments from a...

Pound Sterling As the day’s only major UK report – fourth quarter growth figures – printed in line with forecasts, the Pound experienced minimal movement during the European session. The British asset remained trading close to an eight-week high against the US Dollar and a seven-year high against the Euro. US Dollar The US Dollar...

Pound Sterling A lack of UK data left the Pound trending in a fairly narrow range against the majority of its currency counterparts on Wednesday. Sterling had gained earlier in the week thanks to comments issued by BoE Governor Mark Carney. The central bank chief implied that interest rates will be increased despite the dimmer inflationary...

Daily Currency Update Pound Sterling With UK data in short supply for the first half of the week, commentary from central bank officials and global economic developments will continue to drive Pound movement. If the Bank of England’s Mark Carney is hawkish today, Sterling could push higher in the hours ahead. US Dollar Federal...

Pound Sterling The Pound continued trending in a stronger position against the Euro on Monday in spite of the release of a far worse-than-anticipated Reported Sales figure from the Confederation of British Industry. The gauge had been expected to dip from 39 to 35 in February, but it actually slid to 1. The Pound held previous declines...

Pound Sterling Less-than-impressive retail sales and public finance figures for the UK saw the Pound drift lower against several of its most-traded currency counterparts during the European session. Declines against the Euro were limited however as investors focused on an upcoming gathering of European finance ministers. US Dollar A...

Pound Sterling Encouraging UK jobs data saw investors positively revise BoE interest rate hike expectations and the Pound jumped as a result. The British currency is holding on to gains ahead of the release of the UK’s retail sales figures on Friday. US Dollar The US Dollar recorded losses against peers like the Pound after the minutes...

Pound Sterling With the UK economy adding more jobs than expected in the three months through December, and the nation’s unemployment rate declining, the Pound was able to strengthen across the board on Wednesday. The British currency gained by more than 0.5% against the Euro, US Dollar and Australian Dollar. US Dollar Ahead of the...

Pound Sterling A decrease in the UK’s non-core inflation figure but a rise in core-CPI caused Sterling volatility on Tuesday. The Pound advanced against the US Dollar but held previous declines against the Euro. Tomorrow’s UK employment report is likely to prompt considerable Pound movement. US Dollar After a fairly static start to...

Pound Sterling While the UK’s Rightmove House Price report had little impact on the Pound Sterling exchange rate, despite showing a marked decrease in annual house price growth, the Pound did drift lower against the Euro. The GBP/EUR pairing declined by around 0.3% as investors bet that today’s Eurogroup talks could see Greece reach an...

Pound Sterling The Pound Sterling weakened broadly against the Euro after data showed that the German economy expanded far stronger than forecast. Against the US Dollar, the Pound advanced beyond the 1.53 level as US data released in the previous session came in below expectations. Looking ahead to next week the Pound will experience...

Pound Sterling A fairly optimistic quarterly inflation report from the Bank of England saw Sterling surge against the majority of its rivals on Monday. The British asset climbed by more than 0.5% against both the Euro and US Dollar as well as posting a whopping 1.3% gain against the ‘Aussie’. US Dollar The US Dollar came under a...

Pound Sterling The Pound has been enjoying a solid few days of trading thanks to UK data largely outperforming expectations. Hopes that this week’s Bank of England (BoE) quarterly inflation report will reignite 2015 interest rate hike projections were also lending Sterling support. US Dollar The US Dollar was trading in a slightly...

Pound Sterling A lack of UK data and bets that this week’s Bank of England quarterly inflation report will be dovish saw the Pound ease lower against peers like the US Dollar and Euro on Monday. While tomorrow’s UK Manufacturing/Industrial Production figures are expected to show a month-on-month decline in December, a surprising result...

Pound Sterling Although Friday’s UK trade data showed a widening in the nation’s deficit in December, the Pound remained trading in a stronger position against peers like the Euro and US Dollar. This week’s encouraging UK PMI’s and the belief that the Bank of England is one of the few major central banks with any intention of...

Pound Sterling While today’s Bank of England interest rate decision isn’t expected to have much, if any, impact on the currency market, the Pound still put on a patchy performance against its peers before it took place. Sterling trimmed gains against the Euro but advanced on a broadly softer US Dollar. US Dollar A...

Pound Sterling The Pound gained on most of its currency counterparts on Wednesday as the UK published unexpectedly strong services data for January. The upbeat Purchasing Managers Index followed equally encouraging gauges for Construction and Manufacturing and the prospect of the UK economy getting off to a good start to 2015 was...

Pound Sterling Over the course of Tuesday’s European session, the Pound Sterling to Euro exchange rate climbed by 0.1% while the GBP/USD pairing gained 0.2%. Demand for the Pound improved after the UK’s Construction PMI increased by more-than-expected, although gains were limited ahead of the Bank of England’s interest rate decision....

Pound Sterling The UK’s Manufacturing PMI might have improved by more than expected in January, but the Pound failed to benefit. The British currency remained trading lower against both Euro and the US Dollar after the data was published as delayed BoE rate hike expectations and political pressures took a toll on Sterling. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6732 The Pound was broadly stronger on Friday as a gauge of UK consumer confidence came in at -7 in February, as expected, and separate reports showed that UK house prices rose by more-than-forecast last month. Sterling was also supported by comments issued by BoE policy maker Spencer...

Pound Sterling GBP/USD – Trading in the Region of 1.6644 The Pound began Thursday’s session holding steady against its main peers. While the currency may move in response to comments issued by Bank of England official David Miles later today, investors will also be looking ahead to tomorrow’s UK consumer confidence report. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6689 Yesterday’s impressive UK mortgage approvals report and the expectation that the Bank of England will introduce a rate increase early next year helped the Pound strengthen against several of its major peers. Sterling was holding on to gains against the US Dollar and Euro but may...

Pound Sterling GBP/USD – Trading in the Region of 1.6681 Before the publication of UK mortgage approvals figures the Pound was clinging to yesterday’s gains against the US Dollar but was little changed against the Euro. Sterling movement may be slightly restrained ahead of tomorrow’s British growth report. US Dollar USD/GBP –...

Pound Sterling GBP/USD – Trading in the Region of 1.6650 As Bank of England Governor Mark Carney made it clear that the BoE remains committed to supporting the UK’s economic recovery the Pound recovered losses against the US Dollar. With UK news thin on the ground today, further Sterling movement may be limited. US Dollar USD/GBP...

Pound Sterling GBP/USD – Trading in the Region of 1.6666 With UK retail sales figures estimated to show a 5.0 per cent year-on-year gain in January following a monthly drop of 1.2 per cent, the Pound snapped its recent run of declines against the US Dollar and Euro. A surprising result could trigger Sterling volatility. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6715 Before the release of UK employment data and the publication of minutes from the Bank of England’s most recent policy meeting, the Pound broke free from its recent run of declines. However, disappointing jobs data could see the Pound slip. US Dollar USD/GBP – Trading in...

Pound Sterling GBP/USD – Trading in the Region of 1.6685 The Pound was trading close to a four-year high against its US rival ahead of the release of UK inflation figures. In December inflation finally fell to the Bank of England’s 2 per cent target and economists forecast that the UK consumer price index would rise by an annual 2 per...

Pound Sterling GBP/USD – Trading in the Region of 1.6763 A report showing that UK house prices climbed in February helped the Pound achieve a four-year high against the US Dollar. Sterling was stronger against most of its currency counterparts ahead of tomorrow’s UK inflation figures. US Dollar USD/GBP – Trading in the Region of...

Pound Sterling GBP/USD – Trading in the Region of 1.6701 Before UK construction output data was published the Pound was enjoying its strongest week against the US Dollar since June. The British currency was also slightly stronger against the Euro despite the publication of surprisingly upbeat growth figures for the Eurozone. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6644 The Pound trimmed yesterday’s gain against the Euro as a measure of UK house prices edged lower in January. However, Sterling is still enjoying a competitively bullish relationship with several of its main rivals thanks to yesterday’s upbeat Bank of England inflation report....

Pound Sterling GBP/USD – Trading in the Region of 1.6453 After enjoying its strongest gains against the Euro for two-weeks, the Pound’s advance ended as investors speculated on the likely contents of the Bank of England’s inflation report. Sterling volatility is likely to occur today. US Dollar USD/GBP – Trading in the Region...

Pound Sterling GBP/USD – Trading in the Region of 1.6426 The Pound was able to advance on several of its main currency counterparts overnight as annual like-for-like retail sales in the UK surged unexpectedly. However, Sterling gains were slightly limited as investors focused on tomorrow’s Bank of England inflation report. US...

Pound Sterling GBP/USD – Trading in the Region of 1.6324 After gaining on the US Dollar on Friday the Pound trimmed its advance ahead of the publication of the Bank of England’s quarterly inflation report on Wednesday. However, Sterling was then supported by the news that the Lloyds employment confidence report jumped from -12 to -2 in...

Pound Sterling GBP/USD – Trading in the Region of 1.6324 The Pound began European trading in a slightly stronger position against the US Dollar and Euro. However, disappointing UK industrial/manufacturing production figures knocked Sterling as the day continued. US Dollar USD/GBP – Trading in the Region of 0.6121 This week has...

Pound Sterling GBP/USD – Trading in the Region of 1.6291 Before the Bank of England delivered its rate decision the Pound continued to trade lower against the US Dollar and Euro. Sterling experienced minimal movement after a report showed a stronger-than-forecast increase in UK house prices last month, but the currency could fluctuate if...

Pound Sterling GBP/USD– Trading in the Region 1.6302 Although the Pound performed well yesterday as the UK construction sector surged unexpectedly, Sterling faltered today as services PMI failed to show the pace of expansion expected. US Dollar USD/GBP – Trading in the Region of 0.6130 The ‘Greenback’ recovered losses...

Pound Sterling GBP/USD– Trading in the Region 1.6285 Yesterday’s disappointing UK manufacturing report left the Pound struggling, but the British currency could recoup losses today thanks to uplifting construction data. UK construction PMI came in at 64.6 in January, up from 62.1 in December and considerably better than the forecast...

Pound Sterling GBP/USD– Trading in the Region 1.6393 The Pound began local trading softer against the US Dollar and Euro as economists forecast that today’s report would confirm that the pace of expansion in the UK’s manufacturing sector slowed in January. A pleasantly surprising result could help Sterling recover losses, although...