Market Update


Market Update

The USD edged slightly higher against GBP overnight as The Fed Reserve’s meeting minutes seemed to point towards a continuation of their hawkish stance. The minutes indicated that the central bank should eventually slow the pace of aggressive rate hikes, however The Federal Reserve are still intent on having high interest rates until further evidence […]

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Market Update

The dollar fell this morning, losing out to commodities currencies like the Australian dollar and against the euro, which got a lift from a raft of data that suggested European inflation may finally have peaked. The dollar was already under pressure from investors who have grown more optimistic over the prospect that China’s relaxation of […]

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Market Update

Sterling gained against the dollar this morning as the safe-haven greenback fell against most currencies as market sentiment improved on hopes that China would ease its strict COVID-19 curbs. The British currency in recent weeks has been more responsive to broad shifts in risk sentiment than the European common currency, and the pound also gained […]

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Market Update

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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Market Update

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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Market Update

The pound weakened for the fifth day in a row amid fresh signs of trouble in the UK government bond market that forced yet another intervention by the Bank of England. The pound currently stands at $1.10 after recovering slightly to $1.14 last week, following Kwasi Kwarteng’s U-turn on the abolition of the 45 percent […]

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Market Update

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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Market Update

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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Market Update

The pound managed to make up some ground against the dollar this morning, recovering from the 37-year low it hit earlier in the week. Despite the slight recovery since then, experts are still pointing to the fact that the pound may fall further as Liz Truss seeks to increase government borrowing to fund a new […]

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