News and Analysis

Market News and Analysis

22/01/2021

Sterling continues its run of strength

GBP Sterling continued its ascent against both the euro and dollar on Thursday benefitting from a variety of factors as sterling reached eight month highs against the euro and two and a half year highs against the dollar. One of the leading causes for a stronger pound on Thursday were increasingly optimistic views on the […]

21/01/2021

Strong Inflation data fuels sterling rally

GBP The pound performed well across the board yesterday after the release of better than expected inflation data for December. Cable broke two year highs before retreating and GBP/EUR similarly broke eight month highs. Biden taking office, and the inevitable stimulus package caused sterling to strengthen as investors looked for greater returns. This paired with […]

20/01/2021

Sterling strong as inflation numbers beat expectations

GBP The pound has started the day with a spring in its step as UK Inflation data beat expectations for December. The figure was expected to be an improvement from a previous 0.3% to 0.5% but the realized figure was an even more improved 0.6%. Britain’s inflation rate picked up during the month of December […]

19/01/2021

Vaccine Rollout Key to Quick Recovery

GBP Yesterday there was very little market news due to the US bank holiday Martin Luther King Day so the market was flat throughout the day. Boris Johnson told business leaders yesterday that efficient delivery of the coronavirus vaccine is Britain’s best economic recovery tool as he promised a sustainable fightback from the worst recession […]

15/01/2021

Vaccine rollout boosts Sterling

GBP Sterling traded close to recent highs on Thursday benefitting from news that the UK are leading Europe on rolling out its COVID-19 vaccination programme whilst expectations of an imminent interest rate cut from the Bank of England cooled. Rate cut expectations gained traction in the early part of this month following the tightening of […]

14/01/2021

Investors await Joe Biden’s stimulus plan

USD Analysts are preparing for long term weakness in the dollar over the course of 2021 as we await president-elect Joe Biden’s vast stimulus plan. The stimulus would support a broader risk sentiment, which in turn would sap the greenback as investors look outside of safe-havens. The specifics of this stimulus should become clearer today […]

13/01/2021

Pound rises as Bank of England unlikely to trim rates

GBP Sterling rallied over the course of yesterday against both the USD and EUR. This continued this morning as GBP/EUR is trading over 1.12 and cable trading just below 1.37. Markets took comfort in comments from BoE Governor Bailey, who indicated it was too soon to cut interest rates again. Governor Bailey stated he is […]

12/01/2021

Sterling remains subdued as negative interest rates loom

GBP The pound was among the riskier assets damaged by a strong recovering dollar yesterday as investors weighed up the risk of the Bank of England moving towards negative rates. The pound has dropped against both the dollar and euro so far this month, the last-minute Brexit deal that was reached in late December has […]

11/01/2021

Brexit: how will the pound perform in 2021?

As hard as it is to believe, Brexit does not hold the record when it comes to prolonged processes. Take the Basílica de la Sagrada Família in Spain for example: work began on the world-famous church in 1882 and it is still not finished. The Brexit free trade deal was achieved in a relative blink […]

11/01/2021

Sterling looks towards BoE meeting for direction

GBP/EUR The pound has pared losses against the Euro and could be supported in the coming weeks with the announcement of a third vaccine being approved and the acceleration of vaccinations, although international factors and the Bank of England’s monetary policy will also have a major sway on the pounds direction. The GBP/EUR exchange rate […]

08/01/2021

Sterling under pressure from potential early move from Bank of England

USD The dollar found some support in the form of a flurry of safe-haven demand yesterday. The increased demand for safe-haven currencies had been caused by investors acting cautiously amid concerns that the coronavirus pandemic is spiraling out of control once again, whilst Wednesday’s US political chaos failed to calm investors. Despite Wednesday’s drama in […]

07/01/2021

Dollar falls as Democrats win the US Senate

USD The US dollar fell to three year lows on Wednesday as the Democrats won control over the US senate, clearing the way for a larger stimulus under new president Joe Biden. A democrat controlled state is seen by financial markets as helping global economic growth and favouring riskier assets, while negative for the US […]

06/01/2021

Brexit optimism overshadowed by new lockdown measures

GBP The Pound was pretty flat yesterday, holding at levels well below the two and a half year high against the Dollar we saw in the aftermath of the Brexit talks coming to a successful end, as a new lockdown deflated optimism from a post-Brexit trade deal with the European Union. The new measures, which […]

05/01/2021

Sterling edges lower as new lockdown is announced

GBP Sterling ended the first trading day of the year lower against its peers after the UK signalled a new lockdown to combat the second wave of fast rising coronavirus cases. The pound had initially started the day high, as relief carried over from the last-minute Brexit trade deal that had been announced just before […]

24/12/2020

Brexit deal imminent

GBP It has been some 1645 days since Britain voted to leave the EU on the 23rd June 2016. We may now only be a few hours away from moving on from the Brexit saga. Yesterday, multiple reports from both EU and UK parties indicated that a Brexit was ‘done’. As a result, sterling strengthened […]

23/12/2020

Sterling remains under pressure

GBP Sterling continued to remain under pressure yesterday as Britain remained stuck in COVID-19 isolation due to the news of a new coronavirus strain, hopes of progress in Brexit talks did however help relieve some pressure off the Pound. European Union Chief Brexit Negotiator Michel Barnier said the EU is giving a final push to […]

21/12/2020

New Covid strain worries investors

USD US congressional leaders have confirmed that a new stimulus package, worth roughly $900 billion has now been agreed. The bill includes additional unemployment benefits, stimulus cheques and support for several hard hit industries. This is the second largest US economic relief in US history, after the first stimulus package in March. Final votes are […]

17/12/2020

Dollar falls to multi-year lows

USD The dollar sank to fresh 2-1/2-year lows against major peers including the British pound and euro on Wednesday as progress towards agreeing a U.S. stimulus package and a Brexit deal boosted risk appetite at the expense of the safest assets. Congressional negotiators are getting closer to agreeing a $900 billion COVID-19 aid bill, lawmakers […]

15/12/2020

Sterling gains as Brexit talks are extended

GBP Sterling rallied against the euro and dollar during early trade on Monday, benefitting from news that Britain and the European Union had agreed to extend trade talks past Sunday’s deadline. The news injected fresh optimism back into markets that a deal could be achieved as early as this week after a demoralising previous week […]


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