Bank of England

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 […]

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 […]

05/11/2020

Risk sensitive Pound finishes lower

GBP The risk sensitive pound finished lower on Wednesday as both US Presidential Election and Bank of England uncertainty dampened investor appetite for sterling. The pound had started the Wednesday trading session on the front foot trading close to multi-month highs against both the euro and dollar as market sentiment was firmly risk-on amidst an […]

21/09/2020

Sterling finishes last week on a lower footing

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 […]


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Monthly Currency Market View April 2020

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