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GBPSterling maintained a strong position yesterday, extending recent gains to fresh three-week highs near 1.4300 against the Dollar and 1.1587 against the Euro in the thick of expectations for a May rate hike. Further, high oil prices continue to support Sterling, and the strong run has helped the Pound claim…

GBPThe CBI retail sales index yesterday declined to -8 for March from 8 previously. Sales were undermined by adverse weather conditions and weak sentiment as retailers were disappointed, looking for a modest rebound in April. The data reinforced concerns over retail spending trends and the Bank of England Agents’ survey…

GBPDuring the European session, there was heavy Sterling selling pressure after GlaxoSmithKline announced that it would purchase a 36.5% stake in Novartis’ consumer healthcare division in a $13bn cash deal. As a result, the UK currency moved significantly lower during the European session with a retreat to lows below 1.4100…

GBPUK consumer prices rose by 0.4% for February with the year-on-year inflation rate declining to 2.7% from 3.0% back in February 2017. Annual inflation was below the market expectations of 2.8% and was coupled with producer prices data coming in lower than consensus forecasts, maintaining expectations that inflation has peaked….

GBPThe Pound is gaining against a broadly weaker US Dollar with investors feeling more upbeat overall, focusing on the prospect for UK rate hikes given the continued above-target rate of inflation. Continuing to benefit from the Greenback’s negative wave, coupled with the market’s ability to shake off Brexit baggage from…

GBPGBPUSD is trading up 0.3% at around 1.3990 against the US Dollar, moving higher in tandem with Euro as the volatile equity markets sell-off ended positively. However, the Pound is under pressure against the Euro as concerns increase about the probability of a hard Brexit. GBPEUR dropped towards the bottom…

GBPThis morning continues Sterling’s relative purple patch with early morning news of a surprise bump in house prices. A unexpected rise in January’s GfK consumer confidence index from -13 to -9 provided some backup for Sterling. This news seems to have papered over the negative news on manufacturing data, where…

GBPAccording to the latest report published by GfK (society for consumer research), the UK consumer confidence deteriorated sharply and hit a four-year low in December, exposing further downside risk for 2018. GfK said its key index fell by one point to -13, the lowest since December 2013, and below the…

GBPTheresa May and Donald Tusk concluded that Brexit negotiations are currently not ready for the next stage as sufficient progress has not yet been made. The outlook for Sterling turned on its head when the Bank of England communicated that they were carefully considering raising interest rates.The news saw the…

GBP The GBPUSD pair recovered from a daily low of 1.2998 yesterday, now trading near the 1.3130 level. The broad-based USD selling following the Federal reserve rate decision in the States pushed the GBPUSD pair above the 1.31 handle. The Pound shrugged off tepid Q2 GDP as the economy is estimated…