UK Data this week could weaken Sterling further


UK Data this week could weaken Sterling further

Sterling rose towards $1.30 again today, with figures showing that speculators have cut bearish bets on the currency by the most in more than a year and the third most on record. The overwhelmingly negative view on the pound dominating foreign exchange markets since the Brexit referendum in June last year has abated since British […]

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All eyes on BoE meeting this afternoon

Sterling remained below seven-month highs against the dollar this morning, as investors waited for UK economic data and a Bank of England interest rate decision and inflation report due later in the day, neither of which is expected to indicate a change in bank policy. A quieting of global market volatility and developments on its […]

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Macron wins french election – pound stays stable

A boost for European markets from France was not enough to drive sterling past $1.30 this morning, with the British currency trading in tight ranges as domestic attention focused on this week’s Bank of England meeting and an accelerating election campaign. The pound has gained more than 3 percent since Prime Minister Theresa May called […]

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Sterling holds its own

Sterling held steady below seven-month highs against the dollar today after the results of a survey of Britain’s huge services sector, following stronger-than-expected data in a corresponding manufacturing survey. The PMI services came in at 55.8 higher than the expected 54.5, while the PMI composite came in at 56.0 ahead of expectations. Corresponding construction and […]

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UK Construction PMI beats expectations

UK Construction Purchasing Managers’ Index (PMI) came in better than expectations at 53.1 compared to polls expecting a reading of 52. Tuesday’s stronger-than-expected survey of the manufacturing sector gave the pound some buoyancy in the face of headlines that suggested Britain’s negotiations to leave the EU would be difficult. Today’s figures will help Sterling further. […]

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UK Economy grows less than expected

Britain’s economy grew less than expected in the first quarter of 2017, according to preliminary numbers from the ONS released on Friday. GDP grew by just 0.3% in the quarter, while on an annual basis the figure was 2.1%. Prior to the release economists had forecast 0.4% growth, representing a slowdown from the 0.7% figure […]

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Sterling hits 7 month high against dollar

Sterling rose around half a percent to 7-month highs above $1.29 this morning, helped by a broader softening of the dollar and polls showing Prime Minister Theresa May on course for a landslide in the early election she has called for June. The pound rose by as much as 4 cents when May announced the […]

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Sterling falls against Euro – French Election

Sterling fell sharply against the euro today as investors favoured Europe’s currency over Britain’s in a wave of relief sweeping financial markets following results of the first round of France’s presidential election. The pound rallied nearly 2 percent last week, hitting four-month highs against the euro, after British Prime Minister Theresa May called for a […]

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Sterling stays strong

The pound inched higher against a basket of major currencies today, after a solid performance against the euro before the first round of French presidential elections and from an improvement due to the snap election announcement. Sterling rose against a broadly weaker dollar with bullish polls for Prime Minister Theresa May’s Conservatives adding to expectations […]

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UK Inflation stays at 2.3%

UK inflation’s huge surge since the Brexit referendum paused in March, remaining at the same level seen in February, according to the latest release from the Office for National Statistics on this morning. The ONS said that the UK’s consumer price index — the key measure of inflation — was 2.3%, flat from February, and […]

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