GBP Sterling made a tentative recovery against both the euro and dollar yesterday benefitting from renewed Brexit optimism and the introduction of a new government scheme to support jobs. British Chancellor Rishi Sunak unveiled his “winter plan” yesterday which included a new job retention scheme to help curb the threat of rising unemployment once the […]
Market News and Analysis
GBP Sterling held its ground against both the euro and dollar yesterday despite the latest UK PMI data indicating that the economic recovery lost momentum in September. According to the data released by the Office for National Statistics, the UK Manufacturing index declined from 55.2 previous to read 54.3. The services sector also experienced a […]
GBP Sterling fell to two-month lows yesterday after Boris Johnson announced the new long-lasting Covid-19 restrictions. The new measures included extending the use of face coverings, increasing the fines related to breaches of the restrictions and a 10pm curfew for hospitality venues. The move by the government to re-introduce restrictions follows the sharp rise in […]
GBP Sterling fell to one week lows yesterday as leaked papers in the banking sector dented investors’ risk appetite, while rising COVID-19 cases leaves Britain considering a second national lockdown. A slide in the banking industry put British blue chip companies on course for their worst day in over three months after reports that some […]
GBP The pound finished last week on a lower footing after a combination of rising Covid-19 cases and the Bank of England refusing to take negative interest rates off the table. Coronavirus cases are beginning to accelerate, with new cases doubling 6,000 per day and hospital admissions rising quickly. Ministers are seemingly resigned to the […]
GBP Sterling saw its biggest daily rise in two weeks but still remains under pressure due to ongoing Brexit risk. Furthermore, the Bank of England is widely expected to hold fire, policymakers are likely to conclude that downside risks to the economy are rising due to growing Brexit uncertainty and renewed restrictions on social activity. […]
GBP The pound rebounded slightly yesterday after better than expected jobs data and the possibility that opposition within the government could threaten the controversial proposed internal market bill. There has been an increase in optimism that opposition to the bill is growing and that this can challenge legislation that has increased the likelihood of a […]
GBP Sterling remained close to multi-month lows against both the euro and dollar on Tuesday as the UK government won its first parliamentary vote on its controversial internal market bill which threatens to violate aspects of the UK-EU Withdrawal Agreement. Boris Johnson, who commands a majority in Parliament and describes the bill as a necessary […]
GBP Sterling fell to five month lows on Friday as fears of the UK leaving without a trade deal weighed on the pound. The pound had its worst week against both the euro and dollar since March when the initial outbreak of Covid occurred. Positive data release showing the economy grew by 6.6% in July […]
GBP Sterling extended its losses falling to multi-month lows against both the euro and dollar yesterday amid fears that the UK and EU will fail to agree a Brexit trade deal. The sharp move lower follows an emergency meeting yesterday between UK and EU officials who discussed the implications of Britain trying to force through […]
GBP Sterling reached a six-week low yesterday before a slight recovery in the afternoon session as Britain unveiled draft legislation for post-Brexit life, increasing concerns that trade talks with the European Union could be derailed. The legislation – named the Internal Market Bill – acknowledged it had inconsistencies with international law and prompted a negative […]
GBP Sterling finished the day lower against both the euro and dollar on Tuesday as uncertainty over a UK-EU trade deal took its toll on the pound. According to a recent report published by the Financial Times, the UK are to present a new piece of legislation to parliament on Wednesday which would see parts […]
GBP Sterling dropped on Monday as Brexit talks stalled and threatened to plunge into crisis mode after Britain allegedly threatened to override its European Union divorce deal. Reports come out that the UK is planning new legislation that will override key parts of the Brexit withdrawal agreement, particularly significant news as this could threaten the […]
GBP Sterling fell against the dollar on Friday as a combination of dollar strengthen and Brexit risk weighed on the pound. Brexit uncertainty is likely to hurt the pound in the coming weeks as Boris Johnson has now set a deadline for a trade deal to be concluded. The Prime Minister is expected to say […]
GBP Sterling extended its losses against both US Dollar and Euro as Brexit uncertainty and a bleak economic outlook weighed on the pound. The lack of progress in Brexit negotiations is hurting the pound, with Brexit Chief negotiator Michel Barnier saying he was “worried and disappointed” that Britain had not changed its position on key […]
GBP Sterling drifted lower yesterday against the greenback after Bank of England policymakers warned that Britain’s economy could suffer more damage than first anticipated and that a recovery could be far slower than what some had estimated. Previously the BoE had expected the economy to recover to its pre-covid size by the end of next […]
GBP Sterling reached an eight-month high against the dollar as the US currency fell across the board in response to Federal Reserve Chairman, Jerome Powell’s speech at the Jackson Hole symposium. Speaking at the same event on Friday, Bank of England Governor Andrew Bailey said the British central bank had more ammunition to support the […]
GBP The pound fell on Thursday against a strong US Dollar after Federal Reserve Chairman Jerome Powell unveiled a new strategy to lift US employment and inflation at the Jackson Hole central bankers’ conference. Earlier in the day, the pound brushed off fresh industry data showing UK car production recovered in July but was still […]
GBP This week’s biggest scheduled event for Sterling will be held in Jackson Hole where Bank of England Governor Andrew Bailey’s speaks on Friday. Bailey is not expected to deviate much from the BoE’s current stance on inflation and the UK’s coronavirus recovery plan. However, any surprises will have the potential to move Sterling in […]
GBP The pound managed to trade higher yesterday despite the lack of Brexit progress and an unexpected drop in Britain’s monthly retail sales data. This retail data was particularly surprising given the recent retail news, with the overall sales balance falling to minus 6 in August, way lower than forecasted expectations of plus 8. Sterling […]
International Payroll Solutions
Download our Payroll Solutions guide and discover ways to save time and money when making multiple payments.
Please fill in the form below to receive your free guide.
Monthly Currency Market View April 2020
Concerned about currency volatility and its impact on your international payments? Our currency market view explores the key trends and global events that have shaped the currency market in the last month.
- Inside you’ll find:
- Commentary on key global events
- Economic data
- Key events to watch out for in the coming month
Daily currency market updates straight to your inbox.
Never miss out on the latest foreign exchange news again with our daily currency updates.
You might not be able to predict the outcome of the events that impact the value of currencies or exactly how much it will shift in value, but you can keep abreast of its daily performance.
We can provide your business with a convenient daily currency update that goes straight to your inbox each morning. These updates help provide an insight into the key events that have shaped the currency market.
By receiving these emails you will not only save your business valuable time, you can easily keep track of the currency market.