Sterling continues to be volatile ahead of Thursday


Sterling continues to be volatile ahead of Thursday

GBP dropped off today as many investors have continued to off-load the pound ahead of the Bank of England meeting this Thursday when the central bank is expected to keep interest rates on hold, and as worries about Brexit negotiations resurface. Tensions within Britain’s governing Conservative party over how to agree terms of exit from […]

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Sterling hits a 2 week low

Sterling slipped to a two-week low against the dollar and Euro as investors questioned whether the Bank of England would raise interest rates in May following weaker-than-expected economic data and cautious comments from governor Mark Carney. The pound has been one of the best performing major currencies in 2018 and last week surged to its […]

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Sterling recovers from recent losses

Yesterday the most volatile currency in the market was the pound, with GBPUSD dropping sharply before recovering, perhaps on the back of news that the UK will offer a resolution soon on the Irish border issue sooner rather than later. The euro consolidated gains on Wednesday after hitting a six-week high in the previous session […]

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Pound up against dollar & euro

The dollar was pinned near one-week lows against a basket of major currencies today as concerns over trade protectionism and political turmoil in Washington continued to weigh. Investors continued to be concerned that growing trade tensions could act as a drag on the global economy after U.S. President Donald Trump sought to impose tariffs on […]

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UK Budget update today

UK Chancellor of the Exchequer Philip Hammond will give his Spring Budget update today. Traditionally a major set-piece event, its importance has now been downgraded. The main Budget statement now takes place in the autumn and it has been promised that this afternoon’s speech will not contain any major changes to tax or spending. Instead, […]

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All eyes on the ECB meeting today

Sterling hit a three-month low against the euro before recovering again, this happened as the release of the European Union’s draft guidelines for a future trade deal with Britain underlined the gap between the two sides as they negotiate a Brexit deal. Philip Hammond said that financial services should be at the heart of a […]

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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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Sterling Update

Sterling has climbed more than 5 percent since the start of the year as the U.S. currency has weakened broadly and as investors have become optimistic about Britain’s economy and the prospect of a Brexit deal that is more favourable to the UK. Against the euro, the pound was flat reports that EU officials had […]

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Dollar Volatility Continues

The dollar came under renewed selling pressure this morning, sliding lower against a basket of major currencies ahead of the Federal Reserve’s policy decision. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.24%. The dollar has come under pressure as it has lost its relative […]

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