Market Update


Market Update

Britain’s economy stumbled out of its coronavirus-induced slump in May, casting doubt on the chances of a rapid rebound and suggesting more government help to kickstart recovery may be on its way. Gross domestic product rose 1.8% after lockdown restrictions were eased slightly, the Office for National Statistics said – a smaller rebound than any […]

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Market Update

The pound fell against the dollar and euro overnight before steadying, with the dollar lifted by a bleak economic outlook from the Federal Reserve, and Brexit and the risk of negative rates continuing to weigh on sterling. The dollar bounced against riskier currencies after the U.S. Fed’s economic outlook spooked investors. Sterling had risen against […]

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Market Update

The dollar fell against most currencies amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day. The main focus is a Fed policy meeting later on. While no major changes are expected, recent rises in yields have pushed up […]

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Britain’s economy shrank by a record 5.8%

Britain’s economy shrank by a record 5.8% in March from February as the coronavirus crisis escalated and the government ordered a shutdown of much of the country to stop the spread of the virus, official data showed this morning. In the first three months of the year, gross domestic product contracted by 2.0% from the […]

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Market Update

The pound rose against the dollar and euro after the Bank of England held rates steady and announced no further stimulus, as expected, and suggested Britain’s economy could bounce back by 15% in 2021. The Bank of England said it was ready to take fresh action to counter the coronavirus hammering which could cause the […]

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Market Update

The pound recovered some losses against the dollar in early trading and rose against the euro, as investors grappled with the pound’s downside risks before the Bank of England’s meeting on Thursday. The UK has overtaken Italy to report Europe’s highest official death toll from COVID-19, the disease caused by the new coronavirus, data on […]

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Market Update

Sterling gained as demand eased for U.S. dollars, allowing the pound to recover some of its 1.5% loss this month. The pound ended April up 1.4% against the dollar on the month, benefiting from seasonal factors such as the start of the UK tax year as well as corporate dividend repatriation flows. Risk appetite improved […]

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Market Update

Sterling slipped against the dollar as stalled Brexit talks and further signs of damage to Britain’s economy from the coronavirus pandemic took some shine off the currency’s gains in April. Sterling registered a 1.4% gain against the dollar in April, rallying hard last week. But with speculators turning negative on the pound for the first […]

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Market Update

The pound inched slightly higher this morning as investors turned their attention to U.S. Federal Reserve and European Central Bank meetings this week at which officials are expected to provide further stimulus to their economies to fight the coronavirus. Sterling has been very closely correlated with riskier assets such as stocks and when investors’ risk […]

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Market Update

The pound rose against both the dollar and the euro this morning, but futures data showed the market turned net bearish on the pound for the first time since December last year. The pound was boosted by improving global risk appetite and hopes that lockdown measures may start to be eased as the number of […]

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