Market Update


Market Update

The pound rose against both the dollar and the euro overnight before steadying, recovering somewhat from seven-week lows but not fully participating in a market-wide relief rally from improving risk appetite. Positive signs from a coronavirus antibody trial saw safe-haven currencies, such as the dollar, fall as markets rallied. However, downside risks continue to weigh […]

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Market Update

Sterling hovered at near two-month lows against the dollar and the euro, as talk of negative interest rates from the Bank of England and a stalemate in Brexit negotiations kept the currency pinned within tight ranges. The pound has already fallen sharply this month, by 3.75% against the dollar. Britain and the EU’s chief negotiators […]

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Market Update

The U.S. dollar was set for a weekly gain and the Australian dollar for a 1% drop this week as the threat of a second wave of coronavirus infections rattled investors. As hopes faded for a quick global recovery from the pandemic, traders unloaded the trade-sensitive Aussie and moved into safer assets such as the […]

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Market Update

Sterling fell below $1.22 in early trading to its lowest level in more than five weeks as the combination of a stronger dollar and weak UK economic data hurt the British currency. The dollar rose against a basket of comparable currencies on Wednesday after Federal Reserve Chair Jerome Powell squashed growing speculation about negative interest […]

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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 slightly against the dollar in early London trading but fell versus the euro as Britain waited for announcements about the furlough scheme and how the UK’s plans to ease lockdown measures will affect the workforce. At 1130 GMT, the government is expected to announce changes to its employee furlough programme, which is […]

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Market Update

Sterling dipped against the dollar as rising U.S. Treasury yields put the U.S. currency in demand, with investors cautious about the easing of coronavirus lockdown measures in Britain. As several countries moved to reopen their economies with a gradual easing of lockdown measures, risk sentiment recovered in markets, giving stock markets a boost. British Prime […]

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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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