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Easing Fuel Crisis Helps to Ease the GBP Woes

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

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Improved Manufacturing PMI Gives Pound a Boost

On Friday, the Pound strengthened against many of its rivals even though the ongoing supply chain crisis still had the potential to cause problems. However, the currency saw some solid gains as the UK’s manufacturing PMI was revised higher, going from 56.3 to 57.1 giving

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Downturn in Market Mood Causes US Dollar to Surge

It was another challenging day for the Pound on Wednesday as it still continued to lose ground against many of its major rivals yesterday. This fall continued as a result of economic concerns even though the fuel crisis is showing signs of slowing down. However,

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Pound Reaches New Lows Against The Euro and USD

Tuesday saw the Pound reach a new two-month low against the Euro and an eight-month low against the US Dollar. This saw it finish the day at 1.1585 against the Euro and 1.3538 against the US Dollar according to the Foreign Exchange Market. There are

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The BoE Hawkish Approach Gives Pound a Boost

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 afternoon following further

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UK Fuel Shortage Leaves Pound on Back Foot

It was a mixed day for the Pound on Friday as it received a welcome boost from the Bank of England announcement although the concerns surrounding the fuel shortage put a cap on any gains. The shortage of HGV drivers resulted in some petrol stations

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Disappointing UK Retail Sales Push Pound Lower

The Pound rounded off the end of last week on the back foot after a drop in retail sales placed pressure on the currency on Friday. The data showed that there had been a contraction in the growth of sales and that resulted in concerns

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Energy Crisis Forces Pound to Tumble

On Thursday the Pound lost ground against both the Euro and the US Dollar, rounding off the day at 1.1727 and 1.3797 respectively, according to the Foreign Exchange Market. This came following the news of a UK energy crisis as rising gas prices forced businesses

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Brexit Problems Cause Pound to Lose its Gains

On Tuesday, the Pound climbed during the early part of trading following news that more jobs were available and that employment had reached pre-pandemic levels. However, as the afternoon arrived, those gains had been lost following new Brexit concerns after a delay to checks on

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ECB Announcement Forces Euro to Decline

On Thursday the Pound reached a new three-week high against the Euro, even after the negativity surrounding an increase in National Insurance Contributions. However, the upside in the Pound came as a result of hawkish comments from the Bank of England as it claimed that

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Brexit and NIC Concerns Lead to Lack of Support for Pound

There was very little in the way of support for the Pound on Wednesday as the latest announcement of National Insurance Contributions increases weighed heavily on the currency. Sterling was also impacted by continuing Brexit concerns after it was making headlines again after the government

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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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Slow Down in UK Economy Weighs Heavily on Pound

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 under the expected rise

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Weekly Market Report: 26th – 30th Aug 2021

Thursday 26th August -The Pound was on the defensive on Thursday as further concerns around the economy took hold of investors. This followed a survey from the Confederation of British Industry (CBI). It indicated significant concerns around labour shortages that are causing problems for businesses.

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US Dollar Pushes Forward as Pound and Euro Stall

The Pound was on the defensive on Thursday as further concerns around the economy took hold of investors. This followed a survey from the Confederation of British Industry (CBI). It indicated significant concerns around labour shortages that are causing problems for businesses. Furthermore, the supply

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Supply Chain Concerns Puts Pressure on Pound

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 second half of 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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Hopes of Reopening Strengthens Pound

On Monday, the Pound strengthened against a number of its rivals as it was announced that the UK would continue to lift the remaining restrictions in two weeks’ time. While optimism helped to bolster the currency, concerns were raised about increasing cases and how the

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Pound Recovers Losses While US Dollar Dips

On Friday, the Pound managed to claw back some of its losses as it saw improvements against the US Dollar and the Euro, finishing at 1.3825 and 1.1652 respectively according to the Foreign Exchange Market. These gains came after further news was announced that the

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BoE Aggressive Stance Forces Pound to Slip

The Pound lost some of its gains on Thursday following dovish comments from the Bank of England. The comments related to dangerous inflationary pressures while the BoE Governor claimed that the rise in inflation is transitory. Adding to the pressure was the final manufacturing PMI

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Change in Market Mood See US Dollar Strengthen

Through trading on Tuesday the Pound struggled as a positive outlook on the economy was dampened by concerns about the UK labour market. Recent consumer credit figures indicated that consumers borrowed more money than they had paid off for the first time since August 2020,

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