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 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...
Sterling softens following fall in UK inflation – where will the pound go next?
Sterling softens following fall in UK inflation – where will the pound go next?
UK inflation data released yesterday morning caused a large scale sell-off of the pound. GBPEUR had climbed to two-week highs prior to the announcement and cable was back trading in the 1.21 handle. However, both pairings are trading more than a cent lower at the open this morning.
Inflation figures revealed a fall in both CPI (Consumer Price Index) and core CPI data. The headline figure fell from 10.5% to 10.1% vs...
Sterling improves following NIESR report – where will the pound go next?
Sterling improves following NIESR report – where will the pound go next?
The pound enjoyed a more positive session yesterday following the release of the NIESR’s (National Institute of economic and social research) economic forecast for the UK in 2023. Their research contradicts the predictions that have come from the Bank of England for a lengthy recession and forecasts that the UK will avoid a technical recession in 2023.
Sterling was buoyed by the news which moved GBPEUR to a 7-day high, raising the rate from...
Pound weakens as markets wait for key central bank meetings
Pound weakens as markets wait for key central bank meetings
Sterling closed yesterday’s session softer across the board as markets eye the eagerly anticipated Bank of England and European Central Bank interest rate decisions. Last night, the Federal Reserve in the US announced they would raise interest rates by 25-basis points to 4.75%. The announcement was followed by a statement by the Fed chair Jerome Powell who suggested their current rate hike cycle was coming to an end. The Fed believe the deflation process has...
Monetary policy meetings and interest rate hikes – Will the Pound weaken further this...
The week ahead will be a major one for the Pound, Euro and US Dollar will all three respective central banks announcing further developments in their battle to reduce inflation back to target levels, through their monetary policy meetings this week. Monetary policy meetings and decisions on interest rates help us to understand the current health of the economy, which is the main influence on a currency’s value and, any adverse movement away from the expectation within the market, may result in volatile movement.
The...
Sterling weaker following poor economic data – will the pound drop further?
Sterling weaker following poor economic data – will the pound drop further?
Sterling opened yesterdays session at a weekly low against the single currency. The pairing increased throughout the day but is trading more than a cent lower than the monthly high reached last week, following strong UK inflation data.
PMI data released on Tuesday morning is the catalyst for the latest move. PMI data (Purchasing Managers’ Index) measures the performance of the manufacturing and services industries. The index provides insight into the current and future...
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...
Pound hits monthly highs against the Euro and Dollar – will the rise continue?
Pound hits monthly highs against the Euro and Dollar – will the rise continue?
Sterling rose to monthly highs against a number of its major counterparts during yesterday’s session following stronger than expected inflation data. The pound rose against both the euro and the dollar during the most positive session of the year for the currency.
A transfer of £200,000 is buying €4000 and $11,000 more than the low of the last four weeks.
ONS data showed that UK inflation dropped from 10.7% to 10.5%. Inflation has...
