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Weekly Report – 9th May to 13th May 2022

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

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Weekly Report – 3rd May to 6th May 2022

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

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Weekly Report – 25th April to 29th April 2022

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

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Weekly Report – 19th April to 22nd April 2022

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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Weekly Report – 4th April to 8th April 2022

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

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Weekly Report – 28th March to 1st April 2022

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

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Weekly Market Report: 21st – 25th February 2022

Friday 25th February -It was a difficult end to the week for the Pound although it did manage to recover some losses against the US Dollar following a rapid selloff on Thursday. While the currency did make up some ground, the expectations that the Bank

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Weekly Market Report: 14th – 18th February 2022

Friday 18th February -The Pound experienced a volatile day of trading as tensions between Russia and Ukraine grew. However, an increase in UK retail sales that were better than expected helped to boost the currency although the cost-of-living crisis increased fears that there would be

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Weekly Market Report: 7th – 11th February 2022

Friday 11th February – The Pound reacted to better-than-expected UK GDP data although it still experienced a mixed day of trading, even with the UK economy growing by 7.5% in 2021. Despite this, the currency lost some ground against risk-sensitive currencies as market mood improved.

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Weekly Market Report: 24th – 28th January 2022

Monday 24th January – As UK private-sector growth dropped to an 11 month low, it meant that the Pound lost ground against many of its rivals. Adding to the pressure, the flash composite PMI also pushed lower while the ongoing spread of Omicron is also

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Countries where funds can be received from

We have added new countries and territories where we can receive and collect funds from.   We can now receive funds from over 180 countries worldwide giving you greater access to international clients. The list of countries where we can receive funds from: Åland Islands

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Weekly Market Report: 17th – 21st January 2022

Monday 17th January – The Pound lost some ground even though the latest Covid data suggested that cases are falling and that hospitalisations are plateauing, giving hope that restrictions can be eased further in the coming weeks. However, there was a lack of economic data

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Weekly Market Report: 4th – 7th January 2022

Tuesday 4th January – The Pound made up some good ground on Tuesday as there were increased bets on a likely Bank of England rate hike next month. Furthermore, the news that Omicron is still proving to be less severe means that no further restrictions

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Weekly Market Report: 13th – 16th December 2021

Monday 13th December – On Monday, the Pound started the day in a firm position as investors found some confidence in the currency after the announcement of the rapid booster plan for vaccinations. Despite this, the Pound lost these gains against its rivals later in

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Weekly Market Report: 6th – 10th December 2021

Monday 6th December – The increase in the UK’s construction PMI gave the Pound an initial boost on Monday as the data indicated that this was the fastest increase in purchasing for three months. Despite this, comments from the Bank of England put a stop

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Weekly Market Report: 29th November – 3rd December 2021

Monday 29th November – Monday was a mixed day for the Pound even though consumer credit rose to 0.7bn last month, way above expectations, as people increased their borrowing during the rebound after lockdown. However, Brexit concerns and Northern Ireland protocol negotiations along with the

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Weekly Market Report: 22nd – 26th November 2021

Monday 22nd November – As the session on Monday unfolded, the Pound slipped lower as the Bank of England made some cautious comments and current Brexit concerns placed pressure on the Pound. There were more challenges later in the day after another energy company fell victim

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Weekly Market Report: 15th – 19th November 2021

Monday 15th November-At the beginning of the session on Monday, the Pound remained relatively subdued as Brexit hope faded.  There were more concerns around the Northern Ireland protocol and that it could result in a trade war. However, the Pound did make up for some

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Weekly Market Report: 8th – 12th November 2021

Monday 8th November – On Monday, the Pound started positively as it made up for some of the losses it experienced last week following the decision from the Bank of England on interest rates. While there was no clear indication as to what caused the

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Weekly Market Report: 1st – 4th November 2021

Monday 1st November –The Pound struggled on Monday as it reacted to ongoing Brexit concerns and even a possible Bank of England rate increase couldn’t give the currency the boost it needed.  There were further tensions between France and the UK with both threatening to

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Weekly Market Report: 18th – 22nd October 2021

Monday 18th October – During the session, the Pound slipped as further rises in gas prices placed pressure on the currency. Following a pipeline capacity auction yesterday, it was clear that there was not going to be an increase in gas supplies from Russia into

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Weekly Market Report: 11th -14th October 2021

Monday 11th October -There was some selling pressure on Monday that caused problems for the Pound, following concerns that the economic outlook in the UK could cause further misery for the currency.  While there were some initial gains, this only limited them, as positive comments

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Weekly Market Report: 4th – 8th October 2021

Monday 4th October -The Pound continued to improve on Monday as the fuel crisis looked to be easing as the UK Government deployed the military to help deliver fuel to those areas still struggling. Despite the gains, they were capped as there are warnings that

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Weekly Market Report: 27th – 1st October 2021

Monday 27th September -The Pound strengthened during trading on Monday as it gathered momentum following the policy decision from the Bank of England. This led analysts to expect a rate rise in early 2022, giving the currency a boost. The gains were held into the

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Weekly Market Report: 20th – 24th September 2021

Monday 24th September –The ongoing gas crisis in the UK had a negative impact on the Pound during trading on Monday. The shortage of Co2 is going to have a big impact on the economy with meat processing and packaging likely to suffer. Furthermore, the

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Weekly Market Report: 6th – 10th September 2021

Monday 6th September -Further problems with the supply chain in the UK weighed heavily on the Pound on Monday, forcing it to lose ground to many of its peers. As a result of Brexit-related staff shortages, the UK construction PMI dropped to a new five-month

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Weekly Market Report: 31st – 3rd September 2021

Tuesday 31st August – On Tuesday, the Pound behaved erratically, while it also slumped against many of its rivals after investors still had concerns about the economic recovery in the UK. Consumer credit dropped by a considerable amount in July, with the £0.042bn coming well

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Weekly Market Report: 25th – 27th Aug 2021

Wednesday 25th August – There was very little movement for the Pound on Wednesday as ongoing supply chain issues left investors concerned. The reports of increased disruption left traders unsettled as this is likely to have a significant impact on the economic recovery in the

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ECB Comments Give Pound a Boost

The Pound edged higher on Thursday and this was mainly down to comments from the European Central Bank. It announced that interest rates would be maintained, keeping them at an all-time low. Furthermore, the currency also benefited from solid CBI Industrial data as manufacturing grew

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Imminent ECB Decision Pushes Euro Down

On Wednesday, the Pound managed to close the gap with the Euro as well as the US Dollar. This boost came after Next announced that it had achieved impressive sales figures for the second quarter of 2021 while public-sector borrowing also dropped more than expected.

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Pound to US Dollar Dips to Six-Month Low

The Pound continued to move downwards on Tuesday as investors remained concerned about the growing number of coronavirus cases. Investors are questioning the decision to remove restrictions, fearful that it could lead to the introduction of restrictions as cases continue to rise. There was no

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Looming Freedom Day Causes Pound to Slide

On Friday, the Pound lost ground against many of its peers after investors grew concerned about the reopening of the UK. Pressure was also placed on the currency as a result of the increasing coronavirus cases, with there being no signs of it slowing down

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Remarks From BoE Helps Pound to Strengthen

The Pound strengthened on Thursday following talk from the Bank of England that if the economy continues to perform as it is, then it might need to begin tapering bond purchases soon. This comes after UK inflation increased by 2.5% in June and with no

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UK Inflation Rises, Causing Pound to Spike

The Pound increased on Wednesday after UK inflation came in higher than expected, however, its fortunes changed during the afternoon. Initially, the currency reacted to the increase in UK inflation taking it to a new three-month high against the Euro. By the afternoon, the gains

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USD to Euro Reaches Three Month High

On Tuesday, the Pound managed to make up some ground against many of its peers. This came after the announcement that England would be moving on with the reopening as planned. Despite this, the Bank of England did send out some warnings about the risk

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Strong End to the Week for the Pound

On Friday, the Pound strengthened even though GDP missed didn’t quite reach the expected forecasts. However, the upside in the currency occurred following news that restrictions are likely to be dropped on the 19th of July, giving it a boost. Furthermore, the balance of trade

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Euro Reaches Three Week High Against The Pound

The Pound lost some of its gains on Thursday against many of its peers with a lack of UK data leaving the currency exposed to losses. However, further losses were limited as optimism continued to grow over the economic recovery in the UK and the

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Pound to Euro Drops as Further Brexit Tensions Grow

During trading on Tuesday, the Pound struggled to make any progress as it lost some of its gains against the US Dollar and the Euro although it did climb against others. The Northern Ireland Protocol tensions appeared again and that pushed the currency downwards, even

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