Russia News

<h2>Pound (GBP) Rebounds as Boris Johnson Tells Britons to Stay at Home</h2> The Pound (GBP) was able to edge higher against a handful of currencies today, including the US Dollar (USD) and Euro (EUR), gaining some respite after slumping in recent days. The British currency was able to benefit from a huge wave of selling against the Dollar, and Prime Minister Boris Johnson’s announcement that all shops selling non-essential items would be closed. Johnson also said that people would need to stay at home. However,...

<h2>Emergency BoE Rate Cut Buoys the Pound (GBP)</h2> Sterling (GBP) plummeted against a handful of currencies earlier on Thursday as traders flocked to the safe-haven US Dollar. However, after the Bank of England (BoE) cut interest rates once again in the second emergency cut this month, GBP was able to claw back some of its losses. Interest rates were cut to 0.1%, in the second emergency rate cut prompted by the worsening on the coronavirus pandemic. The BoE also announced another £200 billion in bond buying under...

<h2>Pound Sterling (GBP)</h2> The Pound (GBP) recovered today following news that the European Research Group (ERG) would be willing to back Prime Minister Theresa May’s Brexit deal. This has eased fears of a possible no-deal Brexit, with the ERG – along with the DUP – previously being one of the major obstacles for May’s withdrawal agreement passing through Parliament. However, many Sterling traders are looking ahead to tomorrow’s parliamentary vote by MPs on possible alternatives to Theresa May’s Brexit...

Pound Sterling (GBP) The Pound has made minor gains against the Euro and US Dollar today, although this is primarily because of confidence-damaging Eurozone and US developments rather than positive UK news. The latest UK ecostats have been disappointing for the most part, showing falling levels of monthly industrial and manufacturing production during February. Year-on-year construction output levels have also tumbled, making the latest Pound gains hard-won. Rounding off this spate of bad news, the National Institute for...

Sterling The Pound (GBP) was met by increased volatility on Thursday as general election jitters caused investors to treat Sterling with increased caution. Despite the majority of polls suggesting that the Conservatives are likely to extend their gains following today’s vote, markets are remaining at arm’s length for now, with the upset of Brexit a year ago still fresh in the minds of most traders. The importance of this election is highly likely to overshadow tomorrow’s trade and production data as well, with the elected...

Pound Sterling (GBP) The Pound’s advance on Wednesday afternoon was triggered by an earlier Opinium poll, which predicted a 7-point election lead for the Conservatives. This was considered a more stable estimate than a prior Survation poll, which forecast a single point difference between the Tories and Labour. Most of Thursday could bring tepid Pound movement, before constituencies start being declared on Thursday night into Friday. If early results make a Conservative win look likely, then the Pound could appreciate...

Pound Sterling (GBP) Demand for the Pound has nosedived today, with Sterling diving across the board due to comments made over the weekend by Theresa May. Speaking on Sky, the Prime Minister offered vague and ambiguous statements about what she was aiming for with Brexit negotiations. Despite not specifying whether a ‘Hard Brexit’ was the objective in the Sky interview or (afterwards) the interpretation was still that an economically-rupturing ‘Hard Brexit’ was increasingly likely. Euro (EUR) The Euro has been a strong...

Pound Sterling (GBP) The latest news out of the UK has been negative, with the Pound falling back to opening lows against the Euro, US Dollar and most other major rivals. This depleted state was initially caused by a ‘flash crash’ on Friday, and has since been worsened by the news that MPs will be unable to vote on ‘Brexit’ terms. In the latter case, fears have since been widespread about whether a ‘Hard Brexit’ will take place; the news about a lack of vote implies this is still a distinct possibility. Tomorrow’s...

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 gains versus all but commodity-correlated assets. This was due to a speech from German Chancellor Angela Merkel who stated that Prime Minister David Cameron’s EU demands were ‘justified and...

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 Bank of England’s (BoE) 2% target confidence in Sterling has remained weak, particularly as ‘Brexit’ concerns continue to hang over markets. EUR Climbs Despite Weakened Economic...