Sterling Drops To Yearly Lows

Sterling dropped to a 1 year low against USD in response to fresh Covid restrictions and fading chances of a Bank of England interest rate hike in December. An increasing amounts of analysts are now looking more realistically towards February as the next likely time the Bank of England could hike rates, considering there was … Read more


Sterling Under pressure As Covid Cases Increase

GBP Sterling traded close to recent lows against both the euro and dollar yesterday as market sentiment remained risk-off amid uncertainty surrounding the impact the new strain of Covid may have on the U.K. economy. According to the latest Covid-19 data, the U.K. recorded 101 new Omicron Covid cases with the daily total of Covid … Read more


Sterling’s Downward Trend Continues

GBP Sterling continued its downtrend against both the euro and dollar yesterday as market sentiment remained risk-off, while traders sold the British currency in anticipation of the Bank of England opting to keep interest rates unchanged at this months BoE meeting. Risk off market conditions have been caused by concerns relating to the latest Omicron … Read more


Sterling Tries To Recoup Losses

GBP The pound brushed off fresh concerns surrounding the new Omicron variant on Monday and recovered slightly across the board. The gains are however modest relative to the hefty selling seen on Friday as investors await further news in regards to this new variant and the dangers it poses. If the Omicron variant proves a … Read more


Coronavirus Fears Dampen The Pound

GBP Sterling extended its downtrend to five consecutive days against the USD and three consecutive days against the Euro. The majority of Sterling’s weakness is being attached to fresh coronavirus fears over new variants and continued issues over Brexit talks. French fishermen are set to block the channel tunnel and major ports today in anger … Read more


Sterling Maintaining Support

The pound has continued to be well supported against the Euro as growing concerns of another Covid outbreak across the bloc heighten. Most recently, Austria, have imposed a national lockdown and other countries may start to follow suit. Yesterday, Italy also announced further restrictions. Most notably, Germany is in the spotlight. The powerhouse of the … Read more


Brexit Uncertainty Could Dampen Sterling

GBP Sterling fell against both the euro and dollar on Tuesday as ongoing Brexit uncertainty undermined the positive release of U.K. PMI’s. Brexit tensions between the U.K. and EU have threatened to spill over in recent weeks with U.K. Brexit Minister David Frost threatening to trigger article 16 of the Withdrawal agreement – a move … Read more


Sterling Remains Stable

GBP Sterling remained largely stable throughout the start of the week so far. Worries remain regarding ongoing Brexit talks surrounding the Northern Ireland border, which could put an end to the Pounds recent bullish run against most major currencies. France also sent a further warning to the UK in relation to the fishing dispute, with … Read more


Sterling Outperforms All Majors

GBP Sterling was the best performing currency last week amongst all majors, benefitting from Retail sales figures coming in 0.3% above expectation and better than expected unemployment data, further increasing the probability of a interest rate hike in December as the Bank of England prepares to tackle rising inflation. Given the strong data last week … Read more


Sterling Remains Well Supported

GBP The pound remained well supported against both the Euro and Dollar on Thursday as strong inflation data and labour market data kept sterling higher across the board. Following economic data releases this week, this is a big indication that the Bank of England could look to raise interest rates as soon as December. Money … Read more


Sterling’s rise continues

GBP The pound continued its rise against the € for the sixth straight session and was 0.4% higher on Wednesday. It reached a new 20 month high against the € on Wednesday after UK inflation data rose at its fastest pace in a decade. The consumer price index was up at 4.2% in October which … Read more


UK Inflation Comes In Highest In 10 Years

GBP Sterling rose to its highest level for 2021 as both employment data and inflation data for the U.K. performed strongly reaffirming the case for a Bank of England rate hike. Prior to this week, many investors had given up hope of a U.K. hike this year following the decision from the Bank of England … Read more


Sterling managed to gain a weekly advance

GBP Sterling managed to gain a weekly advance against the euro but failed to gain momentum against the dollar as the US currency remained pretty dominant in the global market. Sterling’s mixed performance during last week suggests investors are still not convinced that the pound is ready to stop its current decline in the wake … Read more


Sterling lacking direction

GBP A string of poor UK data yesterday left sterling struggling against all majors. The Office for National Statistics (ONS) stated that the UK economy grew 1.3% in the three months to the end of September. This was largely below forecasts of 1.5%. As a result we have seen GBP/USD trading at its lowest level … Read more


Dollar fights back against both majors

USD The dollar strengthened against major currencies on Wednesday as inflation rose to its highest level since 1990 and fuelled fears it could prove stickier than the Federal Reserve expected. The consumer price index rose 0.9% last month after gaining 0.4% in September, and in the twelve months through October, the consumer price index accelerated … Read more


US awaits inflation data

USD All eyes are on the US today, with the release of the latest inflation data. US CPI, an important inflation reading, is expected to rise 0.6% from the month previous. Core CPI, which removes volatile factors like food and energy prices, is also set to rise 0.4% from the month previous. The apparent inflation … Read more


Sterling looking to bounce back

GBP The pound made some small gains at the beginning of the week, which has been largely due to expectations that the Bank of England’s surprise decision to keep rates on hold will not be repeated over the next few months. Governor Bailey further suggested an imminent rate rise yesterday saying the central bank will … Read more


Sterling under pressure

GBP The EU and UK are heading for another Brexit review, and this will likely push back any potential gains for the pound. Sterling already dropped last week after the Bank of England remained dovish by keeping interest rates unchanged. Following the completion of a third meeting between the EU and UK over the Northern … Read more


All eyes on the Bank of England

USD The US Dollar stagnated yesterday in reaction to the Federal Reserve’s decision to begin unwinding its pandemic induced stimulus, announcing a $15bn monthly cut to its $120bn monthly purchases of treasuries and mortgage backed securities. The Fed also gave little away in regards to when we expect an interest rate hike, only noting that … Read more