Market Update
- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- November 3, 2022
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The USD surged by over 2% against both EUR & GBP after The Federal Reserve raised interest rates by a further 75 basis points last night, the fourth such rate hike in a row. Taking current interest rates in America to 4%. Comments made by Fed Chair Jerome Powell afterwards however was the main contributor […]
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- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Currency, Dollar, Economy, election, EUR, Fed, Inflation, Sterling, UK, Uncategorised
- October 12, 2022
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Sterling slipped to a new two-week trough after Bank of England Governor Andrew Bailey reiterated that the central bank would end its emergency bond-buying program on Friday and told pension fund managers to finish rebalancing their positions within that time frame. However, the pound rebounded slightly after a report in the Financial Times said the […]
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- Posted by currencies in Bank of England, Bremain, Brexit, Budget, coronavirus, Currency, Dollar, Economy, election, EUR, Fed, Inflation, Prime Minister, Sterling, UK, Uncategorised
- October 6, 2022
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Fitch has downgraded the UK’s government debt rating to “negative” from “stable” following the mini-budget. The ratings agency warned that the “large and unfunded fiscal package” could lead to a significant increase in the government’s deficits over the medium term. The large and unfunded fiscal package announced as part of the new government’s growth plan […]
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- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Prime Minister, Sterling, UK, Uncategorised
- October 4, 2022
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Global stocks rallied for a second day, after Britain’s decision to ditch part of a controversial tax-cut plan and slightly paler expectations for aggressive central bank action returned some confidence to investors. UK Finance Minister Kwasi Kwarteng on Monday announced the government would back down on reversing a tax break for top earners that formed […]
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- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Prime Minister, Sterling, UK, Uncategorised
- September 7, 2022
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Sterling slipped against a rampaging dollar this morning, lingering near 2-1/2-year lows. Sterling had reached as high as $1.1609 a day earlier as media reports offered new details about how incoming Prime Minister Liz Truss is planning to tackle Britain’s growing energy crisis, before losing steam. The dollar hit a 24-year high versus the Japanese […]
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- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- July 5, 2022
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Sterling fell this morning against a strengthening U.S. dollar but jumped against the euro in July thinned trade with markets watching for any sign from the Bank of England on its monetary policy path. With some liquidity expected to return to the foreign exchange market later in the day after a U.S. long bank holiday, […]
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- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- June 20, 2022
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The pound edged higher this morning, breaking a three-week losing streak versus the broadly struggling U.S. dollar as hawkish comments from policymakers supported the currency. While the Bank of England raised interest rates by just a quarter point last week – lagging more robust action from the U.S. Federal Reserve and other central banks, markets […]
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- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- April 26, 2022
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The pound held near lows last seen in 2020 against a strong dollar, as risk assets like the British currency remained under pressure on concerns over the impact of the lockdowns in China on the global economy. Sterling edged lower, after falling on Monday below $1.27 against the dollar for the first time since September […]
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- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Retail Sales, Sterling, UK, Uncategorised
- April 22, 2022
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The British pound tumbled this morning, following data that showed slumping retail sales and record-low confidence as high inflation has cut into consumer spending. Retail sales volumes slid 1.4% from February, the Office for National Statistics said Friday. Economists polled predicted a drop of 0.2%. Sales were revised to a 0.5% drop in February, higher […]
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- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Dollar, Economy, EUR, Fed, GBP, Inflation, No Deal, Prime Minister, Sterling, UK, Uncategorised
- March 31, 2022
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To start the morning off Q4 GDP YoY for the UK came in at 6.6% vs expectations of 6.5% boosting the pound against both the euro and dollar. Newfound optimism on the Russia-Ukraine ceasefire and peace talks quickly came to a halt after Russia indicated no material progress had been made. U.S equities shaved off […]
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