Pound to Dollar Rate Slips Lower Following Explosive Political Claims

Pound to Dollar Rate Awaits BoE Announcement

The pound vs dollar rate failed to cling onto Monday’s gains, which saw the pair edge back above 1.39, after it was dragged lower by domestic uncertainty yesterday. Anticipation of Thursday’s Bank of England (BoE) policy decision and the UK local elections appeared to dampen buying support for the pound – outweighing upbeat manufacturing numbers. The May elections could indicate the extent to which recent Downing Street scandals have affected voter confidence in Prime Minister Boris Johnson, and if political instability is imminent. Meanwhile, the...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Recovers Some Losses

The pound tumbled to 1.38 against the dollar on Friday as the US currency rebounded higher on month-end and week-end profit-taking. A raft of data from the US included the personal consumption expenditure price index from the Commerce Department, which rose 0.5% in March. Excluding volatile food and energy prices, the core rate rose 0.4%, exceeding economists’ forecasts of a 0.3% gain. The sharp rise in producer and consumer prices in March – caused by temporary base effects – pushed heading inflation up 2.3% over...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Subdued by Political Woes

The pound picked up where it left off the previous day, rising to a nine-day high of 1.3979 against the dollar overnight on Thursday. Propelling it higher was the Fed’s dovish outlook following its two-day meeting of monetary policymakers, who believe it is too early to consider rolling back the central bank’s emergency support – a tone that prompted the dollar to weaken. A dearth of data from the UK economy this week has shifted investor focus to other events, including political developments in Westminster,...
Pound to Dollar Rate Bounces Off One-month Low

Pound to Dollar Rate Rises on Fed Meeting Minutes

The pound vs dollar rate has been choppy so far this week, moving back and forth between the 1.38 and 1.39 benchmarks. Despite Prime Minister Boris Johnson’s “competence and integrity” being called into question over the past few days, the pound has held its ground – indicating underlying strength for the UK currency. The pair’s performance has been largely muted by two factors: a dearth of data from the UK economy and anticipation of the Federal Open market Committee’s two-day meeting, which ended yesterday –...
Pound to Dollar Rate Bounces Off One-month Low

Pound to Dollar Rate Subdued Ahead of Fed Meeting

The pound to dollar rate has moved in a largely sideways motion so far this week – fluctuating between the 1.38 and 1.39 levels – with trading largely subdued ahead of the Federal Open Market Committee’s (FOMC) two-day meeting, which ends today. This week’s UK calendar is bereft of data, with just two reports chalked for release. The first – the British Retail Consortium (BRC) shop price index – was released overnight. This measure of price changes in popular retail outlets in the UK continued...
Pound to Dollar Rate Slips Lower Following Explosive Political Claims

Pound to Dollar Rate Awaits Fed Meeting Minutes

The pound began the final week of the month on the front foot against the dollar, advancing back above the 1.39 level. The UK economic calendar is sparse this week, meaning the pound to dollar rate will be influenced by other factors – not least US data, which is in plentiful supply. The first evidence of this was triggered by speculation surrounding the US Federal Reserve’s latest monetary policy meeting this week, during which Fed Chair Jerome Powell is expected to sidestep talk of tapering...
Pound to Dollar Rate Slips Lower Following Explosive Political Claims

Pound to Dollar Rate Rebounds on UK Data

The pound regained its footing on Friday after falling sharply a day earlier, steadying itself enough to post a second week of gains against the dollar. Strong retail sales data and business surveys showed the UK economy might already be on the road to recovery following its worst annual contraction in 300 years. Retail sales soared in March as consumers prepared for the partial easing of lockdown restrictions, according to official figures from the Office for National Statistics that also showed record peacetime government borrowing....
Pound to Dollar Rate Bounces Off One-month Low

Pound to Dollar Rate Extends Move Lower

The pound vs dollar rate slipped to 1.38 on Thursday as investors considered the outlook for an economic recovery from the pandemic in the UK. Earlier this week, the pair hit a six-week high after Britain’s unemployment rate unexpectedly fell for the second month in a row during the December to February period, most of which the country spent under strict lockdown restrictions. UK retail sales exceeded expectations in March, surging to levels higher than before the Covid-19 pandemic struck, despite most shops being shut...
Pound to Dollar Rate Slips Lower Following Explosive Political Claims

Pound to Dollar Rate Steadied by Rising Inflation

The pound was brimming with confidence at the start of the week as it motored its way to 1.40 against the dollar, before stalling on Tuesday. The pair briefly slipped to 1.38 yesterday, as surging global Covid-19 cases soured investor sentiment and sent them seeking cover in the safe-haven dollar. However, positive news from the UK economy appeared to neutralise events elsewhere, leaving the pound vs dollar rate largely rangebound. Consumer price inflation rose to 0.7% in March from 0.4% in February, official figures from...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Hits Six-week High

The pound soared to a six-week high against the dollar on Tuesday on the back of rising optimism that’s been driven by the success of the UK's vaccine drive and a surprising fall in unemployment – causing it to cross the 1.40 mark for the first time in almost a month. Meanwhile, a broadly weakening dollar took a hit as risk sentiment returned and volatility slumped in global markets. The unemployment rate unexpectedly fell in the UK to 4.9% during the three months from December-to-February,...