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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

The pound fell to its lowest level since last Wednesday overnight, driven by a stronger dollar as China-U.S. relations worsened. The U.S. government made a renewed effort to blame China for the coronavirus outbreak. Secretary of State Mike Pompeo said on Sunday there was evidence the virus, which has killed nearly a quarter of a […]

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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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Market Update

Sterling slipped against the dollar after data showed the biggest drop in British retail sales on record, adding to fears about the economic impact of the coronavirus pandemic. Official figures showed sales volumes fell by 5.1% in March, reflecting the hit from the coronavirus shutdown which closed many businesses in the second half of the […]

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UK Data Near 30 Year Lows

The pound was flat this morning before the release of preliminary UK PMI data for April, which was expected to show a sharp decline in economic activity as the coronavirus lockdown brings British business to a halt. At 32.9 in April, down from 47.8 in March, the UK Manufacturing Purchasing Managers’ Index– a composite single-figure […]

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Market Update

The pound fell to its lowest in two weeks against both the dollar and the euro as investors sought safe haven currencies following a crash in oil prices. U.S. oil futures turned negative for the first time ever on Monday, causing the dollar to rise to near two-week highs against a basket of assets as […]

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Market Update

Currency markets were a lot calmer this past week, which is a welcome change after the Covid-related convulsions of the past two months. As some countries start to ease up their Covid lockdown restrictions, markets will focus on the evolution of contagion data there. Preliminary April PMI indices of business activity will be released in […]

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Market Update

Sterling remained steady this morning, it only fell slightly against the broad-based stronger dollar, after the UK said it would extend its coronavirus lockdown for at least three more weeks. Foreign Secretary Dominic Raab said Britain could not risk the progress it had made in fighting the outbreak by easing up on restrictions at this […]

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