Currency News:
Latest Posts

Monday 10th January – It was a relatively mixed day for the Pound as a lack of data meant that there was no real direction for the currency. There was also mixed news in the form of Omicron news although there are signs that cases

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

After the Bank of England announced an increase in the interest rate to 0.25% on Thursday, the Pound rose. However, these gains were capped and this is because the currency was still being held back by concerns over the latest news surrounding the Omicron variant.

The Pound started Wednesday in a good position as it strengthened at the start of trading following the release of the UK’s CPI which came in at a ten-year high. This gave the currency a boost although these gains were quickly lost come the afternoon.

The Pound experienced some fluctuation on Tuesday but it did manage to eventually make gains following the latest UK jobs data which showed that a recovery had continued beyond the end of the furlough scheme. However, the speed at which the Omicron variant is spreading

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 the day as news

The Pound had a relatively quiet day on Friday after data showed that GDP growth had slowed to 0.1% in  October. Despite the disappointing data, the Pound still remained relatively strong as it managed to move sideways and it even strengthened against some of its

The Pound managed to recover some of its losses on Thursday as it firmed following its poor performance on Wednesday following the announcement that new Covid-19 restrictions would be put in place. It looks as though the upside comes from many other currencies weakening and

The Pound took a tumble on Wednesday as it reacted to news that new covid restrictions would be brought back in. Even though the new strain is looking as though it could come with milder symptoms, the Prime Minister decided that new restrictions would help

The Pound was left vulnerable to losses on Tuesday as it lost ground against many of its rivals due to a lack of data. The Omicron variant of Covid-19 is a cause for concern and with cases rising, investors are concerned that new restrictions could

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 to any gains as

On Friday afternoon, the Pound took a sharp dive after it reacted to dovish comments from the Bank of England. The comments indicated that a hike rate is likely but the bank would need more information on the new Omicron variant before it makes a

The Pound saw a change in fortune on Thursday as it reacted to news that further investment would be made in the biopharmaceutical industry in the UK. There was a £400m boost for the UK vaccine factory in Stockton-on-tees while the government also announced that

The Pound experienced a rangebound day of trading on Wednesday. This was down to a number of factors such as the final manufacturing PMI which gave a varied picture of factory activity. Along with this, comments from the Bank of England placed pressure on the

Throughout the session on Tuesday, the Pound lost ground as it suffered from a lack of data, leaving it open to losses. Brexit uncertainties are weighing heavily on the currency while comments from the Bank of England around the new Covid-19 variant potentially slowing down

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 latest Covid-19 variant are

On Tuesday, the Pound weakened as UK PMI indicated that high input costs caused problems for businesses while supply chain problems and staff shortages halted growth. However, manufacturing and services data came in better than expected although this didn’t help to push the currency higher.

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 to the energy

The Pound rounded off Friday in a good position after positive data releases helped to give it some upward momentum. The higher than expected inflation figures released last week gave the currency a boost while the economy continued to thrive but investors also had their

The Pound lost momentum on Thursday as a sell-off saw the currency lose some of its gains. There was a lack of data driving the Pound in any direction while ongoing concerns around Brexit also weighed heavily on the currency. As a new fishing dispute

The Pound edged higher on Tuesday after impressive UK jobs data gave the currency a boost. The data indicated that the labour market remains in a good position despite the furlough scheme coming to an end. This was also bolstered by comments from the Bank

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 losses as

The Pound strengthened against many of its rivals on Friday as there was optimism surrounding the Northern Ireland protocol. Investors had high hopes as negotiations continued as the change in tone and approach from the UK was welcomed by the European Commission. This saw the

On Thursday the Pound struggled as it lost ground against many of its main rivals after the latest data release highlighted that GDP growth had slowed during Q3 of this year. When it comes to economic recovery, the UK is behind many of the other

The Pound lost ground against many of its rivals on Wednesday as it reacted to concerns surrounding Brexit, as it continues to weigh heavily on the currency. The Brexit Minister did stand down from almost triggering Article 16 but this did nothing to ease the

The Pound strengthened at the start of trading on Tuesday after it became apparent that retail sales had recovered during October according to reports from the British Retail Consortium and Barclaycard. Despite this, the National Institute of Economic and Social Research gave a bleak economic

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 positive start, it was

The Pound continued to lose ground on Friday as the Bank of England decided to leave interest rates as they are, which forced the currency lower. However, market sentiment improved during the afternoon and helped to limit any losses. Reports that the UK could trigger

On Wednesday, the UK’s services PMI came in better than expected and that gave the Pound a boost, causing it to rally. The figures show that the service sector has made a strong recovery. This then added to the interest around the Bank of England’s

Tuesday saw the Pound struggle against a number of its rivals as it lost ground as Brexit concerns continued to place pressure on the currency. Even though France held off on sanctions over the finishing right dispute, investors were still concerned about the deadlock in

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 take action. Furthermore,

On Friday, the Pound lost ground against most of its peers as Brexit tensions increased after France detained a British fishing boat. The UK also triggered a committee to discuss the outcomes of the activation of Article 16, with a deadline of the end of

The Pound experienced a volatile day of trading on Thursday as the currency reacted to both positive and negative news. It was announced the impact of covid on the economy was not as bad as initially feared which should have given the currency a boost.

The Pound experienced a difficult day on Wednesday even though the Office for Budget Responsibility gave a positive forecast. The UK’s autumn budget was revealed where the Chancellor announced an extra £150bn in spending although this did come with criticism as it was found that

On Tuesday the Pound edged higher against a number of its rivals after Covid cases dropped for the fourth day in a row. In addition to this, the Confederation of British Industry’s Distributive trades also came in above expectations. Despite this, a downturn in market

On Monday, the Pound had a mixed day of trading as a lack of data failed to give the currency much in the way of direction. Any possibility of a Bank of England rate increase seemed to have disappeared after the release of mixed data

Friday was a mixed day for the Pound after it made up ground against many of its rivals but lost ground in other areas following the release of disappointing retail sales figures, even though PMIs were positive. Both manufacturing and services PMI increased although poor

It was a turbulent day for the Pound on Thursday although eventually, it managed to trend upwards thanks to news that UK public borrowing for this financial year was lower than expected. However, the good news was offset by news that business optimism for Q4

On Thursday, the Pound lost some ground following the release of the UK’s CPI which came in below expectations and that means that the chances of a rate increase at the Bank of Englands next policy meeting are highly unlikely. Despite this, the currency did

During trading on Tuesday, the Pound surged following the beginning of the UK’s Global Investment Summit with the government announcing that £9.7bn of foreign investment would be made into green industries. Despite the initial gains, the Pound did lose ground following a market correction and

During the session yesterday, 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 Europe. With no

Through the session on Friday, the Pound was boosted by improved optimism that a resolution would be found to bring an end to the dispute around the Northern Ireland protocol. There was further support for the currency in the form of a potential Bank of

There was a glimmer of hope for the Pound on Wednesday after some of its rivals weakened during the session following a mixed GDP report. In August, the UK economy grew by 0.4% which was an improvement on the contraction seen in July. However, this

At the start of the session on Tuesday, the Pound edged higher following the release of positive employment figures. Despite this, those gains were quickly lost during the afternoon as the market reacted to concerns around the end of the furlough scheme and how that

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 from the Bank

On Friday, the Pound moved higher against many of its peers, despite ongoing concerns about the energy crisis gripping the UK. A positive market mood gave the currency a boose as well as a strong recovery in the UK stock market. This saw the Pound

After the announcement from the UK government that it would have enough energy supplies to cope with demand in the winter, the Pound strengthened against many of its rivals on Thursday. Additional support came from comments made by the Bank of England which said that

There was little in the way of hope for the Pound on Wednesday after it remained range-bound after it was announced that 66% of manufacturers expected prices to increase in the lead up to Christmas as a result of inflationary pressures. Additionally, UK construction PMI

There was little in the way of movement for the Pound yesterday as it moved in a narrow range as the better-than-expected services PMI was met with certain caveats. As the services sector increased at a good pace in September, the disruption to the supply

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 it could take