Sterling under pressure against the euro and dollar – will the pound weaken further?
Sterling under pressure against the euro and dollar – will the pound weaken further?
Sterling exchange rates have once again come under pressure following comments from Fed chairman Jerome Powell and Bank of England member Catherine Mann regarding future interest rate policy.
GBPEUR is trading within range of the 5-month low, which makes now an opportune time for euro sellers. A transfer of €100,000 is buying £3500 more vs the 5-month high for GBPEUR. Cable (GBPUSD) has also clawed back and is very close to the...
Sterling loses positive gains – will the pound continue to weaken?
Sterling loses positive gains – will the pound continue to weaken?
Sterling exchange rates plummeted during yesterday’s trading session as negative sentiment surrounding the UK’s economy continues to weigh on the currency. Less than 24 hours prior, the pound was trading at 4-week highs against the single currency.
The pound had been boosted by the announcement that the UK and EU had reached a deal over trading arrangements in Northern Ireland known as the Windsor framework. Since the Brexit vote in 2016 the pound has lost...
Will the Pound continue its recent run of form next week?
Pound vs Euro remains strong this week
The Pound Euro is close to its best rate to buy Euros in a few weeks after a solid start to the week.
The Purchasing Manager's Index helped to demonstrate that the UK economy is faring a little than many may have expected including myself.
After having recently avoided a recession in the UK there are a few bright shoots appearing at the moment.
However, with inflation still causing a huge problem for consumers at the moment there are still a...
Why has the Pound begun to improve against the Euro this week?
Major economic data releases helping the Pound, and causing disruption for other major currencies
This week we have seen the Pound benefit from several economic data releases, surprising the market with more positive than expected readings, as well as some weaker data coming out of the European bloc.
The Purchasing Manager’s Index reading, which is a great indicator of the UK services sector’s economic position, posted above 50 to signal that this sector is now expanding in the latest month, as well as the manufacturing and...
Will the Pound vs the Euro continue to fall this month?
UK Retail Sales show a decline and the impact on GBPEUR rates
The Pound Euro exchange rate has been slowly falling lower each day over the course of the week as the UK economy fails to provide much good news.
UK Retail Sales showed an increase of 0.5% in January after falling the month before according to the Office for National Statistics.
However, sales compared to twelve months ago showed a fall of 5.1%.
With consumers being heavily impacted in the UK by the cost of living crisis...
Pound starts to recover against the Euro
The pound managed a surprising recovery during the week to the 10th February, against the Euro the pound managed to climb 1 ¾ cents from the week opening to the week close (1.1160- 1.1330). Against the Dollar the pound managed to claw back a similar amount with the week high topping out just under the 1.22 handle.
As previously mentioned in these reports, the week prior saw a heavyweight clash from the 3 central banks, where the doubt was cast over the future of the...
Pound Euro rate falls after Bank of England ECB Rate Hikes
Pound Euro Rates fall after UK Interest Rate Decision
The Pound Euro exchange rate fell from its recent monthly highs of above 1.14 into the 1.11 levels shortly after the interest rate announcement made by the Bank of England.
The current rate of UK inflation is at 10.2% but the central bank are expecting interest rates to fall to as low as 5.2% towards the end of 2023.
Although petrol prices at the pumps have started to fall recently, wholesale gas prices still remain relatively high.
This is...
Sterling remains robust despite the IMF downgrading UK growth prospects
The UK is in the financial headlines for the wrong reasons this morning, after the IMF (International Monetary Fund) released a report downgrading the UK’s economic growth prospects.
Of the G7 economies, the UK is the only member whose economy is expected to fall into recession this year. The prediction is for a drop of 0.6% through 2023, which is almost a 1% drop from the previous prediction which was released as recently as October.
The reason for the downgrade is being attributed to increasing interest...
Pound Euro exchange rates to experience an uncertain period in the weeks ahead
Uncertain period ahead for the Pound Euro exchange rate
The Pound Euro exchange rate has been drifting slowly lower during the course of the week so far as more pressure gets piled on the British economy.
With many strikes having taken place already and with further strikes scheduled over the next few weeks the UK remains in a very uncertain period.
Teachers, nurses, rail strikes to name but a few have all caused the government to make some difficult decisions in order to appease those sectors involved...
Sterling rallies after UK inflation stays high – Will the pound gain strength this...
The Pound rallied and saw some gains in the recent week finishing at 1.1423 against the Euro and 1.2392 against the Dollar. The pound strengthened after the UK labour market data on Tuesday displayed a new record high for UK wages showing the UK is nowhere near finished with high inflation thus putting pressure on the Bank of England (BoE) to raise the interest rate by 50 basis points.
This upswing in the Pound continued after Wednesday showing a smaller than expected decrease in inflation...
