Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Recovers Losses

On Friday morning, the pound to dollar rate fell from the cusp of the 1.42 level to 1.40 against the dollar.
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Slips to 1.40

The pound to dollar rate plummeted towards the 1.40 benchmark yesterday afternoon, as the US currency grew in strength.
Pound to Dollar Rate Feels Weight of Covid Concerns

Pound to Dollar Rate Feels Weight of Covid Concerns

The pound vs dollar rate was rangebound yesterday as investors considered the possibility that a new Covid-19 variant – first identified in India – could push back the final phase of the government’s roadmap out of lockdown on 21 June. Having touched a fresh three-year high against the dollar on Tuesday, the pound dropped lower almost immediately – falling from 1.4250 back to the 1.41 level. The pound has been spurred on by Britain’s rapid vaccination programme this year, which has engendered positive global...
Pound to Dollar Rate Slips from Three-year High

Pound to Dollar Rate Slips from Three-year High

The pound to dollar rate touched a three-year high against the dollar in the early hours of Tuesday morning.
Pound to Dollar Rate Feels Weight of Covid Concerns

Pound to Dollar Rate Climbs to Three-year High

Having settled just below the 1.42 level over the weekend, the pound to dollar rate edged above the resistance level yesterday as the dollar came under pressure and headed for its second consecutive monthly loss against the pound.
Pound to Dollar Rate Buoyed by Bank of England Policymaker's Comments

Pound to Dollar Rate Buoyed by Bank of England Policymaker’s Comments

The pound shot higher against the dollar yesterday having slipped lower on Wednesday in the wake of Dominic Cummings explosive claims against the government’s handling of the pandemic. Without any data in the diary to provide the UK currency with fresh impetus, it was pushed higher by comments from a typically dovish Bank of England policymaker. During a speech to the University of Bath, Dr Gertjan Vlieghe said an early interest rate hike by the central bank could occur provided: "the transition out of...
Pound to Dollar Rate Slips Lower Following Explosive Political Claims

Pound to Dollar Rate Slips Lower Following Explosive Political Claims

It is little surprise that the pound vs dollar rate has traded in a sideways motion over the last few days. A sparse UK data calendar this week has left the pound lacking economic impetus, causing it to remain at the 1.41 level against the dollar since the weekend. With economic data thin on the ground, developments in the world of politics caught the attention of investors yesterday. British Prime Minister Boris Johnson’s former chief adviser, Dominic Cummings – the strategist behind the successful Brexit...
Pound to Dollar Rate Remains Rangebound

Pound to Dollar Rate Remains Rangebound

The pound briefly touched 1.42 against the dollar yesterday morning before retreating. The first – and only – economic data release from the UK economy this week hit the headlines on Tuesday when the level of Government borrowing in April was revealed. Figures from the Office for National Statistics showed that public sector borrowing hit £31.7 billion last month – down £15.6 billion on the same period 12 months ago when UK national accounts first felt the full blow from the pandemic – as...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Remains Pinned at 1.41

Recent gains – inspired by the rapid vaccine rollout, easing of lockdown restrictions and encouraging economic data – brought the pound within a whisker of a three-year high of 1.4240 against the dollar last week, which it hit back in February. Instead, it had to settle for a three-month high of 1.4233. Having slipped back to the 1.41 level on Friday, the pound vs dollar rate held in a tight range on Monday. With economic data from the UK thin on the ground this week,...
Pound to Dollar Rate Bounces Off One-month Low

Pound to Dollar Rate Touches 1.42

The pound came within a whisker of reaching fresh highs against the dollar on Friday amid signs that the UK economy is roaring back to life. New data from the Office for National Statistics showed that the UK is rebounding strongly from the latest lockdown, with several economic indicators jumping higher as restrictions were eased. The IHS Markit/CIPS Flash UK Composite purchasing managers index (PMI) – a measure of private sector activity – hit its highest level since the index began in 1998, driven by...