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Pound Loses Ground as Us Dollar Soars

The Pound lost some of its momentum on Friday as UK retail sales experienced a drop during May. This saw sales plummet to 1.4% instead of reaching 1.6% as experts had expected. This placed increased pressure on the currency. This saw the Pound finish the

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Pound and US Dollar Thrive While Euro Struggles

On Thursday, the Pound took a solid stance and strengthened, still benefiting from the inflation data that came in on Wednesday. However, as the day progressed, the currency lost some of those gains following some profit taking but again, it bounded back despite covid cases

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Pound Strengthens Thanks to Promising Inflation Figure

The Pound made some improvements on Wednesday after the CPI figures for May really impressed while year-on-year inflation increased by 2.1% – the highest level seen for nearly two years. Despite the delay in lifting lockdown measures, the currency still managed to make gains, with

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Delay to Restrictions Leaves Pound Flat

Tuesday was a day of mixed fortunes for the Pound as it reached a new one-month low against the US Dollar and lost ground against the Euro. According to the Foreign Exchange Market, the currency finished the day at 1.4081 and  1.1611 respectively. The currency

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Pound Strengthens While Euro Struggles

On Friday, the Pound strengthened against a number of its peers after the G7 summit started. Despite increasing coronavirus cases and continued tensions between the UK and the EU around the Northern Ireland protocol, the Pound still managed to make some decent gains. According to

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Surprise Recovery for Pound Despite Increasing Tensions

Despite suffering from failed EU-UK talks on the Northern Ireland protocol, the Pound made a recovery on Thursday afternoon. Talk from the European Central Bank indicated that it could be too early to begin discussing tapering bond purchases while the Pound also gained ground against

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Failed EU and UK Talks Cause Pound to Slump

The Pound struggled on Wednesday as a result of failed talks around the Northern Ireland Protocol between the UK and EU. Investors feared that tensions could grow into a trade war and that placed pressure on the Pound. The currency had initially made gains during

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US Dollar Gets a Boost While Euro Suffers

On Thursday, the Pound managed to pull further away from its peers after the impressive services PMI gave it a boost. The figure indicated that the services sector grew to a new 24-year high. Despite this, its appeal was limited as increasing delta cases and

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Coronavirus Fears Force the Pound to Tumble

On Tuesday, the Pound took a defensive stance as investors became concerned with the reports that the government might pause on reopening the economy on 21st June. This is down to the increase in the Delta variant of coronavirus and it’s spread throughout the UK.

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Pound to US Dollar Reaches Three Year High

At the end of last week, the Pound gathered plenty of support following comments from the Bank of England. Furthermore, it was boosted by news from the Business Secretary who claims that there is nothing to suggest that the easing of restrictions would be delayed.

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Pound to Euro Rebounds While US Dollar Thrives

On Wednesday, the Pound struggled to find any direction although the Pound Euro rate did manage to creep up after its recent poor performance. The UK announced that it would be extending the vaccine programme to anyone over 30 and that helped the currency to

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Coronavirus Worries Forces Pound to Slip

Domestic coronavirus concerns forced the Pound into a slow start to the week on Monday. While the GBP to USD remained firm, the Pound to Euro rate hit a one week low. This saw the Pound finish at 1.1589 against the Euro and 1.4158 against

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US PMIs Impress While Pound to US Dollar Rate Drops

On Friday, the Pound found some ground and edged higher initially as it benefited from improved retail sales figures while the increase in manufacturing PMI also helped to bolster the currency. This saw the currency reach 1.1618 against the Euro and 1.415 against the US

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Steady Day for the Pound as the Euro Rises

The Pound stood firm during trading on Thursday after the Confederation of British Industry announced that factories in the UK had experienced the fastest growth since 2018. This helped to alleviate any concerns around the spread of the Indian coronavirus variant, which might have pushed

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Federal Reserve Talk Gives US Dollar a Boost

It was a promising start for the Pound on Wednesday as it strengthened thanks to it receiving a boost from a better-than-expected increase in domestic inflation. However, any gains quickly disappeared as the Sterling was hit by some profit taking as analysts suggested that the

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New Two Month High For Pound Against US Dollar

The Pound strengthened on Monday and that saw it reach a two month high against the US Dollar. The UK unlocked even more of the economy yesterday, boosting hopes that things will soon recover further. However,  investors still have concerns about the Indian variant that

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US Retail Sales Cause the US Dollar to Fall

As the end of the week came to a close, the Pound remained relatively rangebound after news of the Indian variant of the coronavirus threatened to undo any economic progress that had been made. Warnings of a potential slow-down of the reopening left investors feeling

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Pound Stalls as Euro Gains Ground

The Pound saw very little movement during trading on Thursday as news that Boris Johnson was concerned about the Indian variant of the coronavirus left investors bemused and worried. However, helping to limit any losses were the latest comments from the Bank of England which

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GBP to Euro Rate Steadies While USD Rallies

The Pound edged higher on Wednesday after the latest GDP figures came in better than expected. The Office for National Statistics found that the UK economy had contracted by 1.5% during the first quarter which was lower than the prediction of 1.6%. With March showing

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New One Month High for Pound to Euro Rate

An increase in economic optimism helped to bolster the Pound on Tuesday as sentiment increased. This upbeat tone followed the latest news of covid restrictions being eased from next week, and that resulted in hopes for a significant economic rebound this year. As a result,

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Pound Soars Against the Euro and US Dollar

The Pound grew considerably against the Euro and US Dollar, rounding off Monday at 1.1639 and 1.4128 respectively, according to the Foreign Exchange Market. This came after investors were happy that the Scottish National Part failed to achieve an outright majority during the elections last

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Poor Payrolls Cause USD to Slump While Pound to USD Soars

The Pound took a stronger stance on Friday after the political concerns that placed pressure on the currency had eventually easied with the closing of the local elections. However, any upside to the Pound remained capped following the speculation surrounding the Scottish election. At the

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Bank of England Policy Decision Drives Down Pound

The Pound trended lower on Thursday after investors reacted to the latest policy meeting of the Bank of England. The meeting this month saw the Bank of England change its growth forecast for 2021, leaving investors concerned about a possible change to the monetary policy.

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Double-Dip Recession Causes Euro Rate to Plummet

As last week came to a close, the Pound found itself on the back foot after concerns around the cash for curtains grew. The scandal could damage the Conservative Party at a time when the country is grappling to overcome the impact of coronavirus. Therefore,

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US Dollar Takes a Firm Stance Against the Pound and Euro

The Pound moved higher on Thursday, as the currency started to benefit from the further opening of the economy as well as the continued success of the vaccine rollout. While the upswing proved promising, gains were limited after ongoing scandals within the government continued to

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New Two Month High for Euro to US Dollar Rate

The Pound experienced some decent gains on Friday after the latest release of UK data helped to create an upbeat mood. There were improvements seen in both the retail sales and PMI figures, both of which came in higher than expected. However, investors still had

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Key Resistance Level Passed for Euro to US Dollar Rate

Through trading on Monday, the Pound edged higher as it benefited from optimism that moved through the markets. Sterling sentiment was also boosted by news that the majority of the economy continues to hope for a significant rebound during the summer. However, the latest jobs

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The Pound to Euro Rate Weakens

The Pound lost some traction on Tuesday following the news that Chief Economist Andy Haldane will be leaving the Bank of England in June. This saw rate hike expectations change, especially as the BoE would be likely to retain a dovish approach, forcing the Pound

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