Bank of England

22/03/2021

UK’s vaccine rollout keeps sterling supported

GBP Sterling rallied against the euro on Friday as it continues to benefit from the UK’s vaccine rollout and the Bank of England’s (BoE) decision to keep monetary policy unchanged and interest rates at record lows. Sterling has already could come under renewed pressure this morning as the EU is set to block exports of […]

18/03/2021

Fed remain dovish as interest rates stay unchanged

On Wednesday, as expected, the Federal Reserve confirmed they would be leaving interest rates on hold at near zero for years to come whilst also forecasting a jump in economic growth as the pandemic unwinds. By the end of the year, the Fed forecasts that growth will be as much as 6.5%, which would be the largest rise since 1984. Unemployment is forecast to fall 4.5%, while inflation is set to exceed the central bank’s target of 2% to as high as 2.4%.

17/03/2021

Bank of England Governor raises doubts on the UK’s economic recovery

GBP The pound fell yesterday after Bank of England Governor Andrew Bailey raised doubts on the UK’s economic recovery ahead of this week’s Bank of England Policy announcement. Bailey stressed the importance of continuing with the bond purchasing and stimulus programme, despite his concerns about post-pandemic inflation. Ahead of this key meeting, analysts have taken […]

08/03/2021

Dollar Continues Recent Resurgence

GBP Sterling remains strong against most G10 currencies, however the currency is currently unable to stop the US Dollar regaining ground lost at the start of the year. Sterling does however remain strongly supported and will look towards Bank of England Governor, Andrew Bailey’s speech today to see if there are any further developments with […]

11/02/2021

Sterling maintains position as top performing G10 currency of 2021

GBP The pound has retained its position as the 2021’s top performing G10 currencies, despite fears around the impact of trade disruption caused by Brexit. Support has come from the UK’s successful vaccine rollout, the greater chances of an economic recovery as a result and last week’s Bank of England meeting where it was realised […]

10/02/2021

Vaccination program continues to boost Sterling

GBP Sterling traded close to recent highs against the euro and posted its best levels since April 2018 against the dollar as the UK’s impressive Covid vaccination programme continued to be supportive for the British currency. According to the latest figures 352,480 people received a vaccination on Tuesday taking the total percentage of people vaccinated […]

09/02/2021

Sterling supported as Covid infections fall

GBP Sterling continued its strong run of form as vaccination numbers paint somewhat of a positive picture for the UK. Close to 20% of the adult population have now been given their first dose which towers over the mere 3.7% vaccinated in the EU. Furthermore, the UK’s approach to vaccinate those in the highest risk […]

08/02/2021

BoE hold interest rates as sterling strength continues

GBP Sterling continued its impressive start to 2021, once again jumping on Friday, this time to near 6 months highs against both the Euro and the US Dollar amongst other G10 currencies in response to the Bank of England’s decision to hold interest rates at current levels and also giving no indications they plan to […]

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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