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Friday 17th March – On Friday, the Pound experienced fluctuations in response to global financial market volatility, compounded by the absence of UK economic data. Despite investor anxiety, Sterling managed to make gains against its riskier counterparts.   Meanwhile, the Euro experienced mixed movement as

Friday 10th March – After an eventful week, the British Pound (GBP) made a strong comeback, largely thanks to better-than-anticipated UK GDP figures. The economy grew by 0.3% in January, exceeding the predicted 0.1%. This positive development not only raised hopes that the UK may

Friday 3rd March – On Friday, the Pound (GBP) strengthened as the final PMI results for the UK surpassed initial estimates. The services sector, responsible for 80% of the country’s economic output, expanded at a rate not seen since June 2022, raising hopes that the UK

Friday 24th February – On Friday, the direction of the Pound (GBP) remained uncertain as the UK lacked significant economic data. Market sentiment leaned towards risk aversion, causing the Pound to fall against its safer peers while gaining against riskier ones.   The Euro initially

Friday 17th February – Last Friday, the Pound (GBP) experienced a rebound following an initial drop, as indications emerged that a significant Brexit matter might soon be resolved. UK PM Rishi Sunak met with European Union members in Northern Ireland, and many participants left the

Friday 10th February – On Friday, the Pound Sterling got off to a positive start following the release of the UK’s latest GDP data, which showed that the country had escaped a recession at the end of the previous year. Despite this, the report highlighted

Friday 3rd February – On Friday, the Pound’s value fluctuated as the market continued to weigh up the Bank of England’s policy stance. Investors appeared to be wary of Sterling after the BoE’s cautious guidance the previous day. Despite a better-than-expected performance from the final

Friday 27th January  – Sterling remained subdued on Friday as Chancellor Jeremy Hunt’s speech failed to boost investor confidence. Despite outlining plans for growth and investment, he stated tax cuts would have to wait until inflation was controlled, causing disappointment.   The Euro ended last

Friday 20th January -Last Friday, the Pound experienced a decline in value after the release of December’s retail sales data, which came in much lower than anticipated. Initially predicted to be at 0.5%, the actual sales data revealed a drop of 1%. Experts pointed out

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Friday 13th January -The Pound experienced an upward trend on Friday after the UK’s GDP report exceeded expectations. The economy showed growth of 0.1% in November, instead of the predicted contraction of 0.2%. This has led to speculation that the country’s recession may not be as

Friday 6th January -The Pound struggled at the end of the week as the economic outlook for the UK weighed heavily on the currency. UK construction activity shrunk and house prices continued to decline but the Pound did manage to make gains against a number

Friday 23rd December -The Pound remained volatile at the end of the week as the domestic headlines became the main focus. With border control officers and postal workers staging strikes, the future of the economy was brought into question, all of which weighed heavily on

Friday 16th December -The Pound was vulnerable at the end of the week as there was a drop in retail sales during November that weighed on the currency. Despite this, it did manage to make up for some losses as the latest PMIs showed that

Friday 9th December -The Pound found some success at the end of the week as a positive market mood helped to give the currency a boost. Furthermore, news that the regulations for the financial services industry would be overhauled by the government also pleased investors.

Friday 2nd December -The Pound made up ground and even some volatile trading couldn’t slow it down. This came after fresh hopes of a resolution to the Northern Ireland Protocol dispute helped to cheer investors.   It was a mixed day for the Euro as

Friday 25th November -There was very little in the way of direction for the Pound at the end of the week. This was down to a lack of data although the currency was also impacted by a downturn in the market mood, causing the Pound

Friday 18th November -The Pound ended the week in a positive position as the UK’s latest retail sales figures indicated a rebound in growth. This came after disappointing figures in September but it certainly gave investors a boost.   The Euro also edged higher at

Friday 11th November -It was a slow start for the Pound on Friday as new data indicated that the UK economy contracted by 0.2% during the third quarter of 2022. This contraction was smaller than expected but a risk-on market mood helped to cap losses.

Friday 4th November -The Pound continued to lose ground at the end of the week following the news from the Bank of England that the UK is in a recession. Furthermore, it also raised interest rates and claimed that the recession will last until mid

Friday 28th October -After weakening during the start of trading, the Pound eventually surged higher, despite there being no clear driver for the currency. The Pound was boosted by optimism surrounding the outlook for the UK.   There were no clear gains for the Euro,

Friday 21st October – The Pound dropped at the start of trading as a result of disappointing data as UK retail sales dropped by 1.4%. Furthermore, public sector borrowing also went above forecasts while political uncertainty placed the currency under pressure. Despite its risk sensitivity,

Friday 14th October – The Pound lost some of its gains on Friday as investors reacted to the news that Kwasi Kwarteng had been sacked as chancellor. Following this, speculation grew that Liz Truss would be ousted within days. However, Truss made a U-turn on

Friday 7th October – The Pound started on a good footing as it ticked higher as a result of some dip buying. Despite this good start, as the day progressed, the currency lost ground as investors reacted to an interest rate by the Fed which

Friday 30th September – At the end of the week the Pound took a fall as the government refused to publish the latest forecasts from the Office of Budget Responsibility. This weighed heavily on the currency and meant that even the publication of the latest

Friday 23rd September – The Pound took a turn for the worse as it reacted to the latest mini-budget from the government. UK stocks and bonds slumped while the currency fell by 3.5% against the US Dollar. With a range of tax cuts brought in,

Friday 16th September – It was a disappointing end to the week for the Pound as it lost ground following the release of UK retail sales figures. Sales had dropped by 1.6%, which is more than expected and that could be a sign that the

Friday 2nd September – There was no real direction for the Pound on Friday as the energy bill support package from Liz Truss was still being digested. Along with this, the death of Her Majesty The Queen might also have had an impact on investors

Friday 2nd September – It was a relatively quiet end to the week for the Pound as investors continued to be concerned by economic woes and political troubles. Warnings have been sounded that the UK will enter a recession this year although the British Chambers

Friday 29th July – The Pound weakened at the end of the week as the Bank of England consumer credit report indicated a large rise in borrowing during June. Borrowing reached £1.7bn which was way above the expected £1bn and suggests that people are now

Friday 22nd July – It was a defensive end to the week for the Pound as UK retail sales have contracted for the second month in a row. However, losses were kept to a minimum as the latest preliminary PMI came in above expectations this

Friday 15th July – The Pound dropped against a number of its peers as it reacted to political uncertainty regarding the leadership contest, all of which placed pressure on the currency. Furthermore, data suggested that company insolvencies increased by 40%, highlighting the problems that the

Friday 1st July – It was a volatile day for the Pound as it lost ground against a number of peers following Boris Johnson’s resignation. There was some support for the currency from an upbeat mood although traders did seem concerned about the future of

Friday 1st July – Reaching new multi-week lows, the Pound plunged as the economic woes continued to cause problems for the currency. Manufacturing PMI came in lower than expected and the latest consumer credit data showed that the cost-of-living crisis is impacting disposable income.   It

Friday 24th June – There was some fluctuation in the Pound after investors made decisions based on the latest retail sales figures. Sales had contracted by 0.5% which was lower than originally forecasted and that helped to boost the currency while a shift in market

Friday 17th June -The Pound saw good gains at the start of the day following hints that the Bank of England hinted that rate hikes could take place in the future. Despite this, market sentiment dropped during the afternoon and that caused the Pound to

Friday 10th June -There was a sharp drop in the Pound as further economic fears weighed heavily on the currency. Along with this, the government will implement a bill that overrides parts of the Northern Ireland protocol leading to fears that the UK economy could

Wednesday 1st June -There was selling pressure on the Pound as investors remained concerned about the situation of the economy. Data indicated that economic confidence had dropped to its lowest level since October 2020 while rising inflation was also a concern for business leaders.  

Friday 27th May -The Pound slipped initially during trading although it did manage to make up for any losses during the afternoon. This came down to the analysis of the support package from Rishi Sunak as some criticised the borrowing although some said that it

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Friday 20th May -The Pound strengthened after there was an unexpected rise in UK retail sales of 1.4%, particularly as forecasts suggested that there would be a contraction of 0.2%. There was also a rise in food store sales which indicated that consumers are staying

Friday 13th May -The pound lost ground against many of its peers as it struggled against ongoing economic concerns. With the cost-of-living crisis worsening and the row over the Northern Ireland protocol continuing, there are worries that the UK economy could struggle further.   A

Friday 6th May -It was a relatively quiet day for the Pound as the Bank of England continued to give a bleak outlook on the economy after the interest rate decision placed pressure on the currency. However, the losses were limited as it seems as

Friday 29th April -The Pound strengthened during the session as European investors took a risk-on mood which helps to give the currency a much-needed boost. However, many of these gains were lost on Monday following a quick crash in European trade.   It was a

Friday 22nd April -There was a sharp drop in the Pound following the release of data that indicated that UK retail sales had dropped by 1.4% during March, coming in above expectations. There was also a drop in UK services PMI and this fuelled the

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Friday 8th April – The Pound lost ground during the session as it looked as though the economy would suffer as a result of ongoing travel chaos. With staff shortages causing issues, airlines cancelled flights and there were traffic problems at Dover, all of which

Friday 1st April – The Pound fell against many of its peers as the cost of living crisis gripped the UK and left investors concerned. This came after the UK energy price cap increased by 54% along with many other costs such as council tax and

Friday 25th March – There was an initial drop in the Pound as the latest retail sales data showed that there was a drop. Despite this, the currency did make up some of its losses even though there was no catalyst. An improvement in market

Friday 18th March – There was a lack of economic data on Friday and that meant a change in market mood, causing the Pound to struggle. Initially, the currency dipped as the European markets saw a risk-on rally although it did manage to make up