Market Update


Market Update

Britain’s unemployment rate rose by more than expected to 4.5% in the three months to August, its highest in more than three years, even before the end of the government’s broad coronavirus job protection plan. Economists polled had expected the jobless rate to rise more slowly, to 4.3% from 4.1% in the three months to […]

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Market Update

Sterling climbed against the dollar for the first time in three weeks as investors pushed back expectations for when the Bank of England would cut interest rates below zero. Money markets pushed back bets that Britain’s interest rates would turn negative, with investors now seeing rates falling below zero in May 2021. Previously they had […]

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Market Update

Sterling fell against the euro, although not by much, and most analysts say they now expect Britain and the European Union to meet the transition deadline and soon conclude a Brexit deal. Versus the U.S. dollar, the pound was in neutral territory. British Prime Minister Boris Johnson and the head of the EU’s executive, Ursula […]

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Market Update

The pound rose against the dollar and euro, stabilising somewhat after recent falls, as investors waited for a key Brexit vote. Sterling had its worst week in six months last week, as investors grew more pessimistic about the chances of a Brexit deal being reached before the December 2020 deadline. Britain threw Brexit talks into […]

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Market Update

The pound rose against a broadly weaker dollar in early this morning as Britain eased some lockdown restrictions, but the market’s net short position on sterling is the largest in more than five months. New rules designed to ease the lockdown in England came into force today, even though scientists warned that, in the absence […]

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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 slipped this morning, falling back from its monthly highs against the dollar and euro, after a dire global economic forecast from the International Monetary Fund diminished risk appetite broadly, boosting the dollar. The global economy is expected to shrink by 3.0% during 2020 in a coronavirus-driven collapse of activity that will mark the […]

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Market Update

The spread of the coronavirus and the extreme measures taken to control the pandemic have wrought havoc in financial markets worldwide. In currency markets, the reaction has been a headlong flight into the supposed safety of the US dollar. Every major currency worldwide fell sharply against the greenback, even the Japanese Yen. The worst punishment was meted […]

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GBP Extends Losses

GBP had a mixed day Tuesday, extending losses against the USD to hit the lowest level since September 2019 after Trump oversaw a commitment to pledge $850 billion to support the economy in Payroll, Tax Cuts and extended support to the airline industry which has suffered hugely since the Coronavirus Outbreak. Sterling recovered slightly late […]

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