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 […]
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 […]
USD On Wednesday the dollar continued to struggle in early trading after dovish comments from the fed chair Jerome Powell raising fears of rising inflation. The comments helped to push the USD to multi year lows against the sterling and commodity linked currencies. Powell confirmed that interest rates will remain low whilst the Fed 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 […]
GBP The pound rallied against both Euro and Dollar on Thursday after the Bank of England decided to keep interest rates unchanged at 0.1%. The Bank of England is predicting that the U.K. economy will see a sharp rebound in 2021 due to the current vaccination of the U.K. population. The BOE went onto say […]
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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Monthly Currency Market View April 2020
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