Will the Pound strengthen this week?
The Pound reached multi-week highs last week after Chancellor Jeremy Hunt did his best at calming the markets with his Spring Budget release on Wednesday.
The capturing headline that the UK will not enter a technical recession this year’, as well as expectation of growth in the years afterwards, boosted the Pound heading into what could also be a volatile week.
The Bank of England will announce the next steps forward in terms of interest rates on Thursday, as the Monetary Policy Committee meet. Catherine Mann,...
Sterling hits two-month highs – how will today’s ECB decision impact rates?
Sterling had one of its most positive sessions of the year against the euro during yesterday’s trading. The pound hit two-month highs against the single currency following positive comments from Chancellor of the Exchequer Jeremy Hunt.
Hunt was in parliament to deliver the UK budget (Government Fiscal Plan) for 2023 and announced that the UK would avoid a recession in 2023. Hunt’s comments will not come as a surprise for many market analysts after a recent stream of positive or less than negative economic data...
UK Economic Data Alert : Will the Pound Rise or Fall on the Budget?
Whether the pound will rise or fall on the budget is a good question for such a key economic announcement, particularly with this year's coming at such a poignant moment.
History will surely judge these 'interesting' economic times as the UK narrowly avoids recession but is experiencing record high inflation and serious labour force unrest, as a result of a cost of living crisis which looks likely to be a key factor in the anticipated change at number 10 come the next election.
Expectations can be high...
Sterling exchange rates climb in the lead up to tomorrow’s Spring Budget
Sterling saw gains yesterday to start the week and this trend has continued this morning, with GBP/EUR almost reaching 1.1400 earlier today.
A break above 1.1400 would be a 2-week high and interestingly the GBP/EUR pair have found resistance the last 3-times this level was tested.
Despite tomorrow’s Spring Budget expected to be far less eventful than the Spring Budget last year, the financial markets are still cautious of the impact the Budget can have on financial markets so it’s worth being aware that the Budget...
Sterling, Euro & US Dollar news this week
Pound, Dollar & Euro news this week
The Pound started last week falling against both the Euro and Dollar but rallied towards the end of last week, will this continue ?
Dollar strengthened against the Pound to start last week after hawkish comments from the federal reserve (FED) chair Jerome Powell.
On Tuesday the 7th of March Powell stated, “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated”.
This aggressive...
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 exchange rates remain under pressure despite upbeat data releases
During yesterday’s trading session the GBP/USD exchange rate dropped below the key 1.20 handle, even if only for a brief moment but it’s a sign of the Pound coming under pressure regardless.
The Pound has also lost some ground against the Euro and after spending some time trading in the 1.13’s and testing 1.14, the pair are now firmly in the 1.12’s despite some better-than-expected economic data releases out of the UK.
There has been a lot of talk and media headlines warning of a recession...
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 rise in March?
The pound ended the month of February in a positive state following positive signals from Rishi Sunak’s Windsor Framework. The pound rose to its highest against the Euro since January 20th, moving comfortably above the 1.14 interbank rate.
The concerns over the Northern Ireland protocol had done little to lift the generally bleak view for the pound as we entered 2023, but signs of a thawing in the frosty relations between the UK and the EU have been well received by financial markets.
Is this a...
The Pound holds onto yesterday’s gains, but where to next for GBP exchange rates?
Sterling exchange rates saw a small relief rally yesterday after news broke that the Northern Ireland Brexit deal has been agreed between the UK and the EU.
After recently dropping below 1.20 against the US Dollar, which is a key threshold the GBP/USD pair broke back above this level with the Pound climbing by roughly 1% against the US Dollar. There were also gains for the Pound against the Euro although not to the same extent. GBP/EUR remains in the 1.13’s with the pair remaining...
