GBP Sterling extended its losses against both the euro and dollar on Thursday. This is despite a stronger than expected Construction Purchasing Managers Index (PMI). The Construction PMI is a diffusion index incorporating survey results provided by UK construction firms. The Construction PMI rose to 61.7 from 53.3, a six-year high. However, the news mostly failed to move sterling. Likely […]
GBP The pound fell sharply yesterday following concerns around the UK’s vaccine rollout. Primarily, the AstraZeneca jab’s continued association with a minute number of blood clot cases. The jab makes up 75% of vaccinations given in certain parts of the UK and is seen as integral to Britain hitting its inoculation targets. Yesterday, The UK Government’s joint committee on […]
GBP Sterling made gains against the euro on Tuesday, trading close to a 13 month high. This is a modest 4.5% gain since the start of this year. This rise can mostly be attributed to growing optimism around the UK’s vaccination rollout, eased lockdown measures causing an expected economic bounce and the Bank of England (BoE) looking less likely […]
USD The dollar remained strong against its peers yesterday as data showed US factory activity picked up in early March amid an increase in new orders. However, US manufacturing PMI only increased to 59 in the first half of this month from a final reading of 58.6 in February, when activity took a step back […]
GBP The pound remains under pressure as the British Government works to ease tensions with the EU over their threat to ban AstraZeneca vaccine exports. This is on top of poor employment data for February which showed a further 86,000 Brits had entered unemployment. Today also saw the release of February’s UK Consumer Price Inflation data, which slumped […]
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%.
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 […]
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 […]
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 […]
GBP Sterling erased early losses against the dollar on Tuesday as the pound benefited from global investors purchasing UK assets amid fresh optimism that the UK economy is on track to show a post-Covid economic recovery. During early trade, sterling traded close to its lowest level for two and a half weeks as the increase […]
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 […]
GBP The pound has been the best performing currency of 2021 but it has suffered its sharpest decline of the year in response to a shift in risk status. As demonstrated by the pound’s performance in the last few months, it has adopted a ‘risk on’ status and is susceptible to risk reversals if the […]
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 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 […]
GBP Sterling’s run of strength continued as inflation data beat expectations yesterday further pushing the already surging currency supported by very positive numbers regarding the vaccine rollout. Inflation figures being higher than expected also again reduces the likelihood of negative interest rates. Sterling is currently on a run of 6 straight week of gains against […]
GBP Last week the pound continued to be the best performing currency of its G10 counterparts and has remained at multi month high against the USD and Euro. This was positive news given the backdrop of not so perfect economic data. The pound continues to be supported by the so far successful vaccine rollout which […]
GBP Currency markets look hesitant to push GBP further than its recent highs against both Euro and Dollar. Sterling still looks an attractive buy with continued hopes on the success of the UK vaccination program. The Euro is also benefiting heavily from this period of US Dollar weakness. Some potential worry for Sterling are the […]
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 […]
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 […]
International Payroll Solutions
Download our Payroll Solutions guide and discover ways to save time and money when making multiple payments.
Please fill in the form below to receive your free guide.
Monthly Currency Market View April 2020
Concerned about currency volatility and its impact on your international payments? Our currency market view explores the key trends and global events that have shaped the currency market in the last month.
- Inside you’ll find:
- Commentary on key global events
- Economic data
- Key events to watch out for in the coming month
Daily currency market updates straight to your inbox.
Never miss out on the latest foreign exchange news again with our daily currency updates.
You might not be able to predict the outcome of the events that impact the value of currencies or exactly how much it will shift in value, but you can keep abreast of its daily performance.
We can provide your business with a convenient daily currency update that goes straight to your inbox each morning. These updates help provide an insight into the key events that have shaped the currency market.
By receiving these emails you will not only save your business valuable time, you can easily keep track of the currency market.