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 […]
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 […]
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 […]
GBP Sterling saw its biggest daily rise in two weeks but still remains under pressure due to ongoing Brexit risk. Furthermore, the Bank of England is widely expected to hold fire, policymakers are likely to conclude that downside risks to the economy are rising due to growing Brexit uncertainty and renewed restrictions on social activity. […]
Two Bank of England officials unexpectedly voted to lower interest rates on Thursday to ward off an economic slowdown, and others including Governor Mark Carney said they would consider a cut if global and Brexit headwinds do not ease. Carney said the BoE’s central scenario was that a slowdown in global growth would stabilize and that Prime Minister Boris Johnson’s Brexit deal — which parliament has yet to approve — pointed the way to a reduction in Brexit uncertainty.
Sterling drifted higher against the euro on Tuesday, but stayed within recent trading ranges after survey data showed that Britain’s services sector stagnated last month due to concerns about Brexit.
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