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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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Pound Recovers Ahead of Data Releases

On Friday, the Pound weakened following the Bank of England’s policy announcement although things have improved during the start of this week. Investors did expect a more Hawkish message from the BoE even though it did raise inflation forecasts. The currency was also being held

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BoE Comments Cause Pound to Dip While US Dollar Weakens

On Thursday, the Pound experienced a slight dip as the Bank of England continued to maintain its relaxed approach to its interest rate decisions. While this decision was to keep interest rates unchanged, the dovish statement didn’t fill investors with hope. The current high rate

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Lack of Direction for Pound, US Dollar and Euro

On Wednesday, the Pound was mainly rangebound after the flash PMIs from last month failed to help boost the currency. A mix of figures forced the Pound to stagnate as manufacturing PMI was better than expected although services PMI came in lower than expected. The

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Pound Soars as US Dollar Experiences A Dip

Through Monday’s session, the Pound rallies with the potential hawkish change in the Bank of England’s outlook later this week enhancing expectations. After the US Federal Reserve’s Projections for a sooner-than-expected rate increase as well as a rise in inflation in the UK, it’s expected

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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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