Strong PMI data lifts sterling

GBP Sterling came off an height week low against the Euro and recent lows against the US Dollar off the back off better than expected manufacturing and service PMI data. The data showed both sectors still contracted but there were encouraging signs the decline has started to ease off. EUR The Eurozone also showed tentative … Read more


Potential rate cut edges Sterling lower

GBP The pound edged lower yesterday after inflation fell below 1% and Governor Bailey refused to rule out the possibility of negative interest rates. Inflation fell to its lowest level in 4 years as it came in at 0.8%, and this directly led to speculation that the Bank of England would cut rates in order … Read more


Safe haven currencies fall

GBP The pound rebounded against the US Dollar and Euro on Tuesday to move away from 7 week lows. Positive signs from a coronavirus antibody trial saw safe haven currencies such as the dollar fall as markets rallied. Sterling did not rally as much as it still remains held down by Brexit-related risks and speculation … Read more


UK GDP data beats expectations

GBP The early hours of today saw the pound recover slightly from yesterday’s losses as UK GDP fell by less than expected. UK monthly GDP dropped by 5.8%, which was significantly better than the expected plunge of 8%. Quarterly GDP also beat projections, falling by 2% instead of the expected contraction of 2.5%.  This comes … Read more


Sterling steady following Johnsons lockdown speech

GBP Sterling held steady overnight as Boris Johnson unveiled his new conditional plan to re-open society in the UK, but admitted it was far too soon to completely remove lockdown restrictions. The governments latest proposals signal a very limited easing of covid-19 lockdown restrictions. These proposals include a new tiered covid-alert system which will govern … Read more


Sterling moves lower…

GBP Despite having a strong April, the pound finished the month lower amidst stalled Brexit talks and further signs of damage to Britain’s economy from the coronavirus pandemic. Since talks resumed, no progress has been made between European and British negotiators with French officials reiterating the European position that the UK must make concessions in … Read more


Sterling Strengthens As New Cases Fall

GBP The pound rose against both the dollar and the euro on Monday as Prime Minister Boris Johnson returned to work after recovering from Covid19. Sterling was also boosted by improving global risk appetite and hopes that lockdown measures may start to be eased as the number of coronavirus cases in Britain appears to slow. … Read more


Sterling lower as Brexit risks return and retail sales disappoint

GBP Sterling moved lower against both the EUR and USD on Friday following a record slump in U.K. retail sales and comments from EU chief negotiator Michel Barnier that the U.K. are not seriously committed to trade talks. Friday’s discouraging retail sales data, showed the volume of sales for March falling by 5.1% as number of … Read more


Sterling continues to strengthen

GBP Sterling strengthened against both the Euro and Dollar on Thursday, even after poor PMI data for April. Market activity seems to be immune to new data about the disastrous economic fallout from the coronavirus. The purchasing managers index (PMI) reading for April fell to a record low of 12.9 from 36 in March. The … Read more


Sterling Falls To It’s Lowest Level In Two Weeks

GBP Tuesday saw the pound fall to its lowest level in two weeks against both the Dollar and the Euro as investors rushed to safe haven currencies following a crash in oil prices. The US oil futures turned negative for the first time ever on Monday which caused the dollar to strengthen to two week … Read more


Sterling Remains Under Pressure

GBP Sterling remained under pressure on Monday as government officials announced that it was still too soon to talk about ending the lockdown, despite smaller than average daily increases in the death rate. Britain has now reported over 16,000 Covid-19 related deaths, and these figures do not yet include deaths in the wider community. In the … Read more


Sterling Stable After Lockdown Extension

GBP Sterling remained stable on Friday against the Dollar as the U.K. announced a further extension of three weeks due to the coronavirus. Foreign Secretary Dominic Raab said the UK could not risk the progress it had made in fighting the outbreak by easing up on restrictions at this “delicate and dangerous stage”. He also … Read more


US Unemployment Data At Record Low

USD Covid-19 has wiped out all the jobs gained since recovering from the Great Recession, according to the recent jobless claims figures. Over five million people filed for unemployment benefits for the first time in the past week.The Philly Fed Manufacturing Index crashed far below expectations while housing data was mixed. President Trumps administration have … Read more


Sterling lower as risk appetite falls

GBP The GBP moved lower on Wednesday falling from one-month highs against both the EUR and USD as market sentiment shifted to risk-off following a gloomy economic forecast by the International Monetary Fund. In their first global economic outlook since the spread of the virus, the IMF expects the global economy to shrink by 3% … Read more


Sterling Strengthens As Risk Appetite Improves

GBP Sterling rose to one month high against the Dollar and Euro as signs that lockdown measures may be slowing the spread of cornavirus which is contributing to risk appetite improving across the board. The pound has benefitted from positive risk sentiment in the last week as declining numbers of people transmitted with Covid-19, death … Read more


Sterling Gains As Dollar Weakens

GBP The pound reached three week highs before the Easter break as the Dollar fell against major currencies when the FED announced a stimulus package to support the US economy. The FED announced a 2.3 trillion dollar effort to bolster local governments and small and mid sized businesses in its latest move to support the … Read more


Sterling Continues To Strengthen

GBP Sterling recovered against both the EUR and USD yesterday during a choppy trading session, following an increase in investor risk appetite for the GBP. The day prior, the GBP had been on the back foot as news filtered through that Boris Johnson had been moved into intensive care following a worsening of his corona … Read more


Sterling Shows Recovery

GBP Sterling managed to rally for the majority of Tuesday after market investors seemed to switch back to a more risk on attitude. This comes despite the fact that Prime Minister Boris Johnson remains in intensive care. There won’t be an injection of sudden confidence into the market whilst the UK leader is currently incapacitated, … Read more


Sterling Remains Volatile

GBP Sterling fell on Monday after it was announced that Prime Minister Boris Johnson was being sent to intensive care due to persistent Coronavirus symptoms. During this time, Foreign Secretary Dominic Raab will be deputising for him and investors are unsure on how this will affect the Covid-19 response. One thing is for sure, markets … Read more


Sterling Hit Hard By PMI Data

GBP Sterling ended Friday lower against both the EUR and USD. The move lower was a result of investors losing appetite for sterling following the release of the latest U.K. services PMI data, which showed the lowest level of activity since records began. The reading of 34.5 was well below market expectations of 37.1 as … Read more