Positive data and Brexit progress causes Sterling strength
Employment data and average Earnings gives the Pound a boost
Yesterday provided some much needed positive data for the UK. Things were looking very bleak following recent inflation, retail and GDP data. GDP landed at 0.1% the worst figures for five years. A rate hike from the Bank of England (BOE) was no longer justified and investors lost faith in the pound with the chance of a rate hike in 2018 looking like a long shot.
Employment data was released yesterday and proved to be impressive, ...
Sterling Rates finds support having fallen after Bank of England held rates
The pound suffered a poor performance following the Bank of England interest rate decision yesterday but has made a very small recovery since. Sterling exchange rates fell across the board yesterday on the back of the slightly more dovish commentary coming from the central bank. Although interest rates were held at 0.5% as widely expected the pound fell on the back of what was cited as an uncertain path with Brexit as well as the reduction in growth forecasts for 2018 which have been...
Sterling Rates find Support having Fallen after the Bank of England Holds Rates
The pound suffered a poor performance following the Bank of England interest rate decision yesterday but has made a very small recovery since. Sterling exchange rates fell across the board yesterday on the back of the slightly more dovish commentary coming from the central bank. Although interest rates were held at 0.5% as widely expected the pound fell on the back of what was cited as an uncertain path with Brexit as well as the reduction in growth forecasts for 2018 which have been...
May interest rate hike from the BoE now in question
BoE Interest Outlook weakens Sterling
After recent gains for the pound against the majority of major currencies we have seen the fragility of sterling demonstrated. We have seen a fall in inflation, retail sales and GDP. GDP fell to a five year low at 0.1%. A rate hike from the Bank of England (BoE) was largely factored into the exchange, but following a host of poor data we could see a hike delayed and this is the cause for the current fall in the Pounds...
Poor data releases could hold back BoE rate hike
Inflation and Retail Sales a concern for the BoE
Following a host of positive data releases we saw significant gains for the pound against the majority of major currencies. GBP/EUR breached 1.15, GBP/AUD nearly broke 1.85 and GBP/USD got close to 1.45. There was a large rise in average wage growth and unemployment hit a 43yr low.
A transitional deal was all but agreed for Brexit, granting the UK access to the single market for two years until a full exit from the EU. This all...
Sterling Supported ahead of EU Summit
The pound has rallied against most of the major currencies today with a good move higher against the Euro in particular. Rates for GBP EUR have now broken above 1.13 having seen a high of 1.1345 earlier today.
Next week is likely to be hugely important for sterling exchange rates ahead of the EU summit 22nd & 23rd March. The transitional agreement on Brexit is expected to be concluded ahead of the summit for it to be put forward to the EU commission for final...
When shall I move?
Sterling Seller Strategy - GBP/EUR, GBP/USD and GBP/AUD
GBP/EUR – Sterling is suffering due to the uncertainty surrounding Brexit. One of the key points of negotiation is whether or not the UK financial sector will have access to the single market following Brexit. This is proving to be particularly difficult. Theresa May’s proposal was for the UK to continue to have access to the single market and to abide by the highest standards of international laws. This was declined by Brussels.
The French wish to attract...
Sterling Exchange Rates Rally Close to 1.13 for GBP EUR
The pound continues to trade within a tight range as the markets still await new developments in the Brexit negotiations. The pound is currently trading at 1.1270 against the Euro and 1.39 against the US dollar having seen reasonable gains across the board today. Those clients looking to sell Euros for pounds have been presented with another good opportunity to convert. The focus is now largely on Brexit with the terms of the transitional arrangement expected to go through in the next couple of...
