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Weekly Report – 30th August to 2nd September 2022

Friday 2nd September – It was a relatively quiet end to the week for the Pound as investors continued to be concerned by economic woes and political troubles. Warnings have been sounded that the UK will enter a recession this year although the British Chambers

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Weekly Report – 25th July to 29th July 2022

Friday 29th July – The Pound weakened at the end of the week as the Bank of England consumer credit report indicated a large rise in borrowing during June. Borrowing reached £1.7bn which was way above the expected £1bn and suggests that people are now

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Weekly Report – 18th July to 22nd July 2022

Friday 22nd July – It was a defensive end to the week for the Pound as UK retail sales have contracted for the second month in a row. However, losses were kept to a minimum as the latest preliminary PMI came in above expectations this

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Weekly Report – 11th July to 15th July 2022

Friday 15th July – The Pound dropped against a number of its peers as it reacted to political uncertainty regarding the leadership contest, all of which placed pressure on the currency. Furthermore, data suggested that company insolvencies increased by 40%, highlighting the problems that the

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Weekly Report – 4th July to 8th July 2022

Friday 1st July – It was a volatile day for the Pound as it lost ground against a number of peers following Boris Johnson’s resignation. There was some support for the currency from an upbeat mood although traders did seem concerned about the future of

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Weekly Report – 27th June to 1st July 2022

Friday 1st July – Reaching new multi-week lows, the Pound plunged as the economic woes continued to cause problems for the currency. Manufacturing PMI came in lower than expected and the latest consumer credit data showed that the cost-of-living crisis is impacting disposable income.   It

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Weekly Report – 20th June to 24th June 2022

Friday 24th June – There was some fluctuation in the Pound after investors made decisions based on the latest retail sales figures. Sales had contracted by 0.5% which was lower than originally forecasted and that helped to boost the currency while a shift in market

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Weekly Report – 13th June to 17th June 2022

Friday 17th June -The Pound saw good gains at the start of the day following hints that the Bank of England hinted that rate hikes could take place in the future. Despite this, market sentiment dropped during the afternoon and that caused the Pound to

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Weekly Report – 6th June to 10th June 2022

Friday 10th June -There was a sharp drop in the Pound as further economic fears weighed heavily on the currency. Along with this, the government will implement a bill that overrides parts of the Northern Ireland protocol leading to fears that the UK economy could

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Weekly Report – 30th May to 1st June 2022

Wednesday 1st June -There was selling pressure on the Pound as investors remained concerned about the situation of the economy. Data indicated that economic confidence had dropped to its lowest level since October 2020 while rising inflation was also a concern for business leaders.  

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Weekly Report – 23rd May to 27th May 2022

Friday 27th May -The Pound slipped initially during trading although it did manage to make up for any losses during the afternoon. This came down to the analysis of the support package from Rishi Sunak as some criticised the borrowing although some said that it

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Weekly Report – 16th May to 20th May 2022

Friday 20th May -The Pound strengthened after there was an unexpected rise in UK retail sales of 1.4%, particularly as forecasts suggested that there would be a contraction of 0.2%. There was also a rise in food store sales which indicated that consumers are staying

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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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