Market report: pound stays strong as Covid cases fall

GBP The pound made gains against the euro and dollar on Monday, reaping the benefits of a surprisingly dramatic improvement in the UK’s Covid situation. Confirmed cases have now fallen for the sixth consecutive day to 24,950 from 39,950 a week ago, shifting market sentiment back to risk on. This is a welcome development for […]


Market report: covid cases drop to give pound hope

GBP Last week was a reminder to traders just how quickly market sentiment can shift. Sterling struggled at the start of the week as concerns over a third wave took their toll. But it found new strength towards the end as cases began to drop. Those slight gains remained this morning as numbers stayed low. […]


Market report: pound boosted by ‘Freedom Day’ confirmation

GBP Sterling rallied against the euro and dollar on Monday as the Prime Minister confirmed the country was on track for ‘Freedom Day’ on July 19th.  The confirmation lockdown will all but end next week was welcomed by investors but didn’t result in any significant spikes as the good news was mostly priced in when the news was first announced. Investors […]


Market report: Lockdown end in sight to boost GBP

GBP  A swift economic recovery boosted by an end to all Covid restrictions is likely to keep the pound well supported for the next few weeks.  Prime Minster Boris Johnson announced yesterday lockdown will all but end on July 19th. That means no masks, no limits on numbers and no social distancing. Johnson stated that despite rising […]


Market report: pound just can’t escape Covid

GBP Sterling struggled against the euro and dollar on Wednesday as the UK’s worsening Covid situation and downbeat economic data dented the currency. The UK reported 26,068 new Covid cases yesterday, the third day in a row cases have surged above 20,000. This is now the highest number since January 29th. Crucially, hospital admissions and […]


Market report: pound falls as Covid cases rise

GBP Sterling fell against the euro and dollar on Friday as investor appetite soured amid rising Covid cases and disappointing UK retail sales. Office for National Statistics data showed month-on-month and year-on-year retail figures fell below expectations of 1.6% and 29% growth to read -1.4% and 24.6% respectively. The data has come as a disappointing surprise to investors, with some questioning whether the UK’s economic […]


Market report: Relaxed restrictions good news for pound

GBP Lockdown eased further across Britain yesterday, with indoor dining back on the menu and travel to selected countries permitted. Hopes for the economy heightened in response.  However, economists are looking over their shoulders as cases of the Indian variant continue to rise. Secretary of State for Health, Matt Hancock, yesterday told the House of Commons there were now 2,323 […]


Market report: High hopes for the pound as lockdown eases

GBP The pound is set for a busy week, as the release of key data coincides with further the easing of lockdown.  This is on top of last week’s Bank of England meeting where GDP growth forecasts were upgraded, a position now being cemented elsewhere. Economists surveyed by Bloomberg also upped their 2021 growth forecasts to 6%, the largest mark up since 1973. This puts […]


Market report: Indian variant could impact pound

GBP Sterling retracted from recent high against the euro and dollar on Thursday as market sentiment shifted from risk-on to risk-off. The adjustment follows a good spell for sterling, which has been the week’s strongest performing currency. Market relief over the Scottish election, further easing of lockdown restrictions and the Bank of England raising its […]


RFXplainer: Travelling overseas to buy, sell or let property

As of March 29th, foreign travel from the UK remains illegal for all but non-essential reasons. Those essential reasons, however, include anything “in connection with the purchase, sale, letting or rental of a residential property.” In this first of our RFXplainer series, we’ll give you all the information you need if you have to travel for any of these reasons. 


The pound hits 13 month high vs the euro

GBP Sterling surged to a 13 month high against the euro yesterday morning while holding strong against the dollar. The upwards swing didn’t last long, however, and the pound had dipped again by the afternoon. Although there’s no real data to explain these swings, the volatility could be down to a new financial quarter beginning […]


US dollar rises again off the back of rising treasury yields

USD The dollar rose on Friday following a fresh spike in Treasury yields as the prospect of economies emerging from year-long coronavirus lockdowns reignited inflation fears. The market over the last few weeks has become increasingly more wary of possible inflationary pressures that could come as a result of pent-up consumer demand and the expanding […]


The Euro holds firm despite a dovish European Central Bank

EUR The Euro held firm on Thursday despite a dovish European Central Bank (ECB) meeting which saw interest rates kept unchanged but saw the ECB commit to increase the pace of its €1.9 trillion bond buying scheme. The ECB’s decision to accelerate the pace of its PEPP for the next three months came as a […]


Positive sentiment continues to prop up Sterling

GBP Investors have ramped up bets for further gains on Sterling, with the net long position of the pound increasing to the highest level since April 2018. This increase in the net long position is a reflection of the optimism that currently surrounds the UK thanks to the rapid roll-out of the vaccine program that […]


Dollar strengthens on US economic recovery

USD The US dollar strengthened on Thursday after Jerome Powell indicated that inflation is likely to rise as the economy recovers in the coming months. Powell stated that interest rates are unlikely to rise unless the economy is running back to full capacity with full employment and more durable inflation. Powell believes that rise in […]


Sterling remains stable after the Budget was announced

GBP Yesterday saw the announcement of Rishi Sunak’s highly anticipated Spring Budget. Almost one year on from his first budget, circumstances have most definitely changed. This year’s budget was largely split into two. The first part was a large extension of the support already in place. The focal point was an extension of the furlough […]


Dollar gains as US treasury yields rise

USD The dollar has gained in the past couple of days as U.S. government bond yields jump on expectations that growth and inflation will increase as the administration prepares new fiscal stimulus and vaccinations against COVID-19 become more widespread. This saw the dollar index rise to a three-week high as investors bet on faster growth […]


Sterling posts fresh highs against EUR and USD

GBP Sterling experienced yet another day of forward momentum as fresh highs were posted against both the EUR and USD. The reason for this positivity largely remains the same, case numbers continue to fall as vaccination numbers rise. Yesterday, the UK recorded its lowest daily infections of the year at 8,489, compared to 10,641 the […]


Sterling remains stable ahead of the UK’s lock-down exit plan

GBP Today see’s the eagerly anticipated announcement of the UK’s lockdown exit plan, with investors awaiting to see whether the details will be overly cautious or if the economy will reopen in large chunks. This follows on from last week, where the pound was yet again the best performing major, hitting three year highs against […]

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Monthly Currency Market View April 2020

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