Sterling

22/10/2020

Sterling rallies to six week highs

GBP Sterling rallied to a six week highs against the US Dollar on Wednesday as Brexit talks are set to resume this week. EU Chief Negotiator Michel Barnier stated that both sides must be willing to compromise and that a deal was within reach. He went onto say “we will seek the necessary compromises on […]

19/10/2020

Sterling unfazed by no deal scare

GBP Sterling was unfazed by Boris Johnson’s announcement that the UK should prepare for a no trade deal on Friday. Optimism is building among investors that a trade deal will be reached and Johnson’s latest announcement could be a ploy in order for the EU to give into the demands of the UK according to […]

16/10/2020

Sterling falls due to concerns over a timely trade deal

GBP Sterling fell yesterday after concerns mounted about the obstacles that are keeping the European Union and Britain from reaching a timely trade deal. Boris Johnson had previously proposed that the October 15th deadline be the conclusion for talks and we await for a confirmation on the scope of a new extension. Fisheries, competition and […]

14/10/2020

Sterling lower as Brexit anxiety weighs

GBP Sterling took a step back on Tuesday, dipping against a broadly stronger dollar and also falling back against the Euro as currency markets kept an eye on ongoing Brexit negotiations for fresh drivers over the next few weeks. Recent reports have claimed that the European Union want further concessions from Britain before entering the […]

13/10/2020

UK response to rising Covid-19 cases

GBP Sterling edged higher yesterday as Boris Johnson announced a highly anticipated three tier alert system across the UK. In doing so, he also rejected a second national lockdown saying ‘it would not be the correct course of action’. The new system would see country divided by tiers, and those with the highest infection rates, […]

12/10/2020

Market sentiment shifts

GBP Sterling traded close to month highs against both the euro and dollar on Friday. Market sentiment shifted to risk on due to rising hopes that a Brexit trade deal and US stimulus package can be agreed. Despite the move higher, sterling has found difficulty in breaking through its current trading range and the headline […]

02/10/2020

Sterling falls as Brexit talks stall

GBP Sterling fell against both US Dollar and Euro on Thursday as Brexit talks stall between the U.K. and the EU. Both parties are far apart on the key issue of state aid and the U.K. was dealt with another blow as the EU launch a legal case against the U.K. The EU gave the […]

11/11/2019

Sterling falls to 2-week low

Sterling moved to it’s lowest level in two weeks against the USD on Friday as political uncertainty remained high ahead of next month’s general election. Speaking at the launch of the Scottish National Party election campaign, leader of the Scottish National Party, Nicola Sturgeon put sterling on the back foot as she suggested that she would form an alliance with Labour to block a conservative government on the 12th December.

07/11/2019

Markets await MPC meeting

Sterling remained stable on Wednesday as investors continue to wait to see what the Bank Of England might have to say regarding the impact of Brexit on the British Economy. Uncertainty around Britain’s departure from the EU has left a strong mark on business confidence. Weak economic data makes it increasingly likely that Bank of England’s next move will be to cut interest rates rather than increase them. Money markets do not expect the central bank to cut rates in the near term until more clarity emerges on the political front.


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Monthly Currency Market View April 2020

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