UK Retail Sales expanded 0.1% MoM


UK Retail Sales expanded 0.1% MoM

Sterling gave away part of its initial gains today following the release of January’s retail sales in the UK. Overall, retail sales volumes rose 0.1 percent on the month, below economists’ forecasts in a Reuters poll for a monthly rise of 0.5 percent, after dropping 1.4 percent in December. Even in year-on-year terms, there was […]

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Pound above $1.40

Sterling rose against the dollar today, cementing gains on the back of a broadly weakened dollar, with traders eyeing earnings data next week to give the pound fresh momentum. After a strong start to the year on the back of growing expectations that the Bank of England will raise rates faster than previously thought, and […]

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Dollar Weakens Ahead Of Inflation Data

Sterling strengthened yesterday after data showed British inflation unexpectedly stayed close to its highest levels in six years in January, firming up investors’ bets that the Bank of England will raise interest rates again in May. The BoE surprised financial markets last week by indicating that rates could move up faster than previously expected, as […]

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UK Inflation unexpectedly at 3%

Sterling edged up against the dollar and Euro this morning, continuing a modest rebound from three-week lows hit last week, as traders eyed UK inflation data for clues on when and how fast the Bank of England will raise interest rates. Consumer price index (CPI) numbers were in at 0930 GMT and they were expected […]

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The week ahead

Over the weekend, amid speculation that the Bank of England could raise interest rates as soon as May, Chief Economist Andy Haldane said that there is “no rush” to tighten policy further. Bank of England speakers are the key focus today in an otherwise quiet calendar. Following last week’s hawkish signals from the Bank of […]

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Bank of England to raise rates

The Bank of England said yesterday it was likely to raise interest rates sooner and by more than it thought only three months ago. The BoE’s rate-setters gave themselves time to assess how Britain is coping with the approach of Brexit by voting unanimously to hold Bank Rate at 0.5 percent, as expected. Governor Mark […]

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Dollar Strengthens while Sterling remains volatile

The exchange rates are listed at the bottom of this article. Please note they are for indication only. For a live quote please contact us. The U.S. dollar was at two-week highs against a currency basket today, rising last night after U.S. Senate leaders announced a two-year budget agreement. The U.S. dollar index, which measures […]

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Pound continues to drop off

Sterling fell for a third straight day yesterday, hitting two-week lows against a broadly stronger dollar even though investors remained wary of selling it down too far before this week’s Bank of England meeting. Currency markets have been relatively calm compared with equity markets which are suffering their fourth straight day of falls, with Britain’s […]

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Brexit worries weigh on the pound

Sterling is advancing moderately today, and GBP/USD is moving closer to the psychological hurdle at 1.4000 again. Cable came under persistent downside pressure as of late following a renewed buying interest in the greenback, while results in the UK docket came in below initial estimates. In addition, Brexit woes and uncertainty around PM May’s government […]

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The UK economy slowed last month

Britain’s economy slowed sharply in January, according to a survey which cast doubt on growing expectations among investors that the Bank of England might be gearing up to raise interest rates again in the coming months. The IHS Markit/CIPS Purchasing Managers’ Index (PMI) for the country’s dominant services sector slowed to a 16-month low of […]

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