Pound Sterling rises as Sunak expected to be third Prime Minister in a matter...
The pound has started off the week on the front foot against all major currencies, following another weekend of political twists and turns for the UK.
As we headed towards the end of an eventful week, news broke that ex Prime Minister Boris Johnson was heading back from a Caribbean holiday to have a crack at regaining his position at number 10, something that seemed a million miles away only a few weeks ago.
As most readers will know, the UK is full of surprises at...
Pound Sterling Weakness – Why Is The Pound Dropping So Much?
Sterling exchange rates have taken a huge hit over the course of the days trading, as the new chancellor Kwasi Kwateng's mini-budget appears to have knocked the pound totally out of fashion.
The pound has lost over 350bps against the Dollar sitting in the 1.08 territory, whilst dropping to 1.12 against the Euro and hitting the lowest level against the Swiss Franc since 1974 sitting in the 1.06s.
There is now talk of an intervention and whether HMT will make an attempt late on Sunday night...
GBP/EUR continues to trade at annual low with BoE meeting in focus in week
In the early hours of this morning, the Pound to Euro exchange rate hit a fresh annual low of 1.1385, which is the lowest level the pair has traded at in close to 20 months.
The weak start to this week’s trading follows on from a 1.25% drop last week, after Friday’s sell-off pushed the Pound lower off the back of some concerning economic data for the UK.
UK Retail Sales were expected to have dropped by 0.5% in August, but data released on Friday showed...
Pound Sterling losses continue as cost of living crisis dominates headlines – New Prime...
Sterling exchange rates have continues to drift to kick start a new trading week, as the cost of living crisis dominates headlines across UK media.
With today being an important day for UK politics as we see the announcement of the winner in the Conservative party leadership contest, and ultimately who will be the new Prime Minister, they will almost instantaneously have to announce how they plan to combat what appears to be an extremely challenging winter for the majority of households and businesses.
It is...
Pound to Euro forecast: Boris Johnson as PM provides Sterling with a boost against...
Boris Johnson wins Leadership contest to become next UK Prime Minister: How does this affect GBP/EUR rates?
The pound to euro exchange rate has managed to improve following the news news that Boris Johnson has become the 77th British Prime Minister. After weeks of not knowing who will lead the country we have seen the pound make some gains vs the single currency.
This has created some good short term opportunities for anyone looking to buy euros at the moment. However, I think the gains could...
Pound Euro forecast: Bank of England comments & Tory leadership election
Mark Carney's comments: Bank of England measures
The Bank of England governor Mark Carney spoke yesterday about the most recent inflation report. His rhetoric was similar to that of their recent meeting earlier this month. It appears as though Carney is more in favour of Quantitative Easing rather than an interest rate cut and this gave the pound a boost.
He also suggested that he would not necessarily change interest rates if the UK heads towards a no deal Brexit. However, he did suggest that they...
