Market News

Brexit Uncertainty Slows Down GBP Exchange Rate

10 July 2020

The pound continued its momentum through most of the trading session on Thursday after the currency still reacted to the stimulus announcement from Rishi Sunak. Despite this, sentiment dropped during the afternoon after it became apparent that British businesses would face new challenges when selling to Europe. This resulted in the pound finishing the day at 1.1168 against the Euro and 1.2606 against the US Dollar according to the foreign... Read More

A New Three-Week High For the GBP/USD Exchange Rate

09 July 2020

Following the announcement from Rishi Sunak and the new stimulus measures designed to boost the UK economy, the Pound remained fairly stable, with minimal gains against the Euro and the US Dollar, rounding of Wednesday at 1.1127 and 1.261 respectively according to the foreign exchange market. Despite this, investors felt that more could have been offered and that held the currency down, but Brexit talks during the latter part of... Read More

Strong Day For The Pound As The Euro Suffers

08 July 2020

As some of its peers weakened, the Pound took advantage on Tuesday and moved higher with the currency strengthening in readiness for the summer update from Rishi Sunak. This saw the currency round the day off at 1.1124 against the Euro and 1.2541 against the US Dollar according to the foreign exchange market. How the Pound performs today will be reliant on the announcement from the chancellor on the position... Read More

Improved Eurozone Figures Bolster The Euro

07 July 2020

On Monday, the Pound experienced a mixed day of trading on the foreign exchange market as it struggled against the performance of its peers due to a lack of any notable direction. This still occurred off the back of some promising data relating to improvements in the construction sector as it bounced back last month with the strongest reading in two years. The supplementary budget this Wednesday is likely to... Read More

US Dollar Improves Amid Coronavirus Fears

06 July 2020

As Friday came to a close, the Pound was relatively quiet and subdued. The lack of a Brexit deal was holding the currency back and this also left investors concerned too. According to the foreign exchange market, the pound finished the week at 1.11 against the Euro and 1.2484 against the dollar. This lack of progress has meant that the Pound is starting the week on the back foot, although... Read More

Brexit Concerns Can’t Dent The Strength Of The Pound

03 July 2020

Through the trading session on Thursday, market optimism ensured that the Pound remained relatively strong, despite the currency being risk-sensitive. Even the current Brexit talks couldn’t cause the Pound to experience losses, this resulted in the Pound’s foreign exchange rate finishing the day at 1.1094 against the Euro and 1.2471 against the US Dollar. It’s likely that the latest service PMI figures are likely to be better than expected given... Read More

Further Recovery For The Pound As Market Sentiment Improves

02 July 2020

Things continued to improve for the Pound on Wednesday as the markets reacted to positive news of a coronavirus vaccine. Despite this, the currency was held back slightly by concerns that the plans to revive the currency after the pandemic were not as thorough or as handled as well as they could have been. An update about Brexit negotiations are likely to guide the pound through the rest of this... Read More

Pound Overcomes Three-Month Lows As Fresh Hope Of Economic Recovery Offers a Boost

01 July 2020

It was a slow start for the Pound on Tuesday as the currency was impacted by the news that the UK economic growth for the first quarter had been revised to -2.2% down from 2%. However, it did make up some ground throughout the day after Boris Johnson announced the UK recovery plan after the pandemic is designed to deal with the economic problems the country has been facing for... Read More

Difficult Day For The Pound After Brexit And Coronavirus Concerns

30 June 2020

After trading on Monday, it was clear that the Pound was suffering due to concerns over Brexit negotiations but also news that local clusters of coronavirus outbreaks could put the brakes on economic recovery. The currency, according to the foreign exchange market lost ground against the Euro and the US Dollar, finishing the day at 1.0943 and 1.231 respectively. There were hints that interest rates might have to fall further... Read More

Confidence in Pound Weakens Amidst Brexit Talks

29 June 2020

Following a drop in risk sentiment, as well as concerns over Brexit negotiations, the Pound took a dip on Friday according to the Foreign Exchange market. The currency finished the week at 1.0998 against the Euro and 1.2339 against the US Dollar, weakening from the previous day. The currency is at risk of suffering at the mercy of a no-deal Brexit, while concerns of a second wave of Coronavirus infections... Read More