News and Analysis

Market News and Analysis

10/07/2020

Brexit uncertainty holds back sterling

GBP The pound initially edged up on Thursday after Rishi Sunak’s announcement of stimulus to kick-start the British economy. However as the day progressed, Brexit risks and general uncertainty weighed on the pound. Chancellor Sunak promised an additional thirty billion pounds worth of measures to help the coronavirus-stricken economy, with particular emphasis on getting furloughed […]

09/07/2020

Chancellor’s support package boosts sterling

GBP Chancellor Sunak yesterday announced his £30bn support package for the UK economy with 11 million jobs being protected with further measures to come in Autumn’s budget. Sunak announced a job retention bonus of £1,000 per employee for companies who bring employees back to work if they are employed up until at least January 2021. […]

08/07/2020

Sterling hits 3 week highs against USD and Euro

GBP Sterling rose to three week highs against both the EUR and USD yesterday amid renewed optimism a Brexit trade deal can be reached by the end of this year following reports that the EU are willing to make concessions on their fisheries policy. Fishing rights have been a key stumbling block in UK-EU trade […]

07/07/2020

Traders await Sunak’s summer statement

GBP Sterling had a mixed start to the week yesterday, as traders continue to look ahead to this month’s Brexit negotiations and to expected government support measures. There was also data released showing that British construction companies returned to growth in June for the first time since the coronavirus hit. Chancellor Rishi Sunak makes his […]

06/07/2020

Global risk appetite improves

GBP Sterling ended the week on a positive as it held firm against the dollar for the first time in four weeks. The pound’s movement in the coming weeks will depend on how talks progress between the UK and the EU in regards to a post-Brexit trade deal, sterling will also be impacted by investor […]

02/07/2020

Dollar lower as risk sentiment improves

GBP The pound posted an impressive recovery against the dollar yesterday despite there being no fundamental changes in the currency market. Sterling’s appreciation appears to be a technical move resulting from quarter end re-balancing. Yesterday, EU chief negotiator Barnier rejected the UK’s plan for the City of London’s access into the EU. Barnier said the […]

01/07/2020

Sterling volatility remains

GBP Sterling remained highly volatile on Tuesday and was affected by worse than expected GDP data. The British economy shrank by 2.2% in the first quarter which was the biggest drop in GDP since 1979. The Bank of England has warned that GDP could have contracted by more than 20% during the first six months […]

30/06/2020

Brexit risk weighs on sterling

GBP Sterling continued to trade at recent lows as Brexit worry continues to force pressure on the currency. The pound dropped to three month lows against the Euro and a one month low against the US Dollar, as a worse than anticipated Brexit deal became more likely over the weekend along with further worry that […]

29/06/2020

Sterling falls to June lows against EUR and USD

GBP Sterling fell to June lows against both the EUR and USD on Friday as both weaker investor risk appetite and doubts the UK will yield any progress from this weeks UK-EU trade discussions contributed to a weaker GBP. Since the UK’s decision to leave the European Union the GBP has been trading in line […]

26/06/2020

Dollar higher as safe-haven flow returns

GBP in a frame because it set ‘X-Frame-Options’ to ‘sameorigin’. Sterling rallied versus a broadly weaker Euro, which was trading softer due to riskier assets in the region weakening and the European Central Bank disputing Germany’s court challenge to its money-printing plans. Boris Johnson’s plan to ease restrictions further has led to health experts speculating […]

25/06/2020

Sterling remains steady

GBP Sterling was pretty flat against both the Euro and the US Dollar despite mixed news from both currencies. GBP largely held its position against the Euro despite data showing a better than expected rise in German business morale. This news did however add to a weaker dollar as investors took some risk off currency […]

24/06/2020

Sterling drops to lowest levels since mid March

GBP Sterling fell to its lowest levels since mid-March against a strong Euro yesterday, but rallied close to 0.4% against a weaker USD as global risk appetite improved. Despite posting a record rise, sterling was unmoved as UK PMI survey’s showed activity in the services and manufacturing sector rose to 47.6 in June, from 30 […]

23/06/2020

UK factories suffer worst quarter on record

GBP Sterling had a mixed day yesterday as it was aided by hopes of a Brexit trade deal and expectations of better economic data due to a relaxation in lockdown measures. However, British industrial output recorded its biggest quarterly fall on record during the three months to June and this stopped the pound from having […]

22/06/2020

UK debt exceeds output

GBP Sterling had its worst week since mid-May after data releases on Friday showed government borrowing had hit record highs. Britain’s public debt exceeded economic output for the first time since 1963 which illustrates that the coronavirus has had a damaging impact on the British economy and an economic recovery is a long way away. […]

19/06/2020

Bank Of England provide further stimulus

GBP The Bank of England ramped up its quantitative easing programme by £100bn it announced yesterday, taking the programme’s total to £745bn. The increase was in line with what the market expected and therefore did not provide any shocks to the Sterling exchange rate. Expectations were however heightened as further action will be announced by […]

18/06/2020

Sterling weaker after poor inflation data and Brexit fears

GBP Sterling weakened slightly on Wednesday after weak inflation data and Brexit fears weighed on the currency. Inflation fell to its lowest level since June 2016 as the coronavirus crisis has sapped demand from the global economy and caused oil prices to significantly fall. This low inflation will come into particular focus at today’s Bank […]

17/06/2020

Risk weighs on Sterling

GBP Sterling had a mixed day against both the EUR and USD yesterday, rallying during early trade but finishing the day lower as risk sentiment weighed on the GBP. The initial rally in sterling was a result of a positive UK unemployment data. The unemployment rate managed to hold firm at 3.9% in the three […]

16/06/2020

Sterling lower as market sentiment shifts to risk-off

GBP Sterling fell to two week lows against both the Euro and Dollar on Monday as market sentiment shifted to risk-off amid ongoing Brexit uncertainty and a spike in global coronavirus infections. A fresh coronavirus outbreak in China and the US put financial markets on the back foot and has led to investors becoming nervous, […]

15/06/2020

Sterling falls as Brexit related risk weighs on the pound

GBP Sterling starts the week under pressure as increased risk on sentiment has crept back into currency markets. Boris Johnson will today hold a video conference with the European Commission President Von Der Leyen and other EU council leaders, with Johnson expected to say he wants Brexit talks concluded by Autumn at the very latest. […]

12/06/2020

The USD rallied from safe-haven flow on Thursday

GBP The GBP fell this morning as Industrial Production and Manufacturing Production fell to record lows. Industrial Production was down 20.3% and Manufacturing Production was down 24.3%. This follows a dark day for UK jobs on Thursday. In which some of the UK’s largest employers announced mass redundancies, bringing the total number of jobs lost […]


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