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UK Rising inflation continues to dominate the headlines. Inflation figures are expected to rise over 10%, and Bank of England Chief Economist – Huw Pill commented that the UK’s Central Bank faced its most difficult challenge in 25 years, although he also commented that monetary policy tightening still had a…
Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly exchange rate update. EUR – Euro Mixed on Hawkish ECB and Recession Fears The Euro (EUR) was mixed through the previous week’s trade as concerns about the Eurozone…
The British Pound has started Friday’s trading on the front foot following another better than expected economic data release. UK retail sales volumes rose by 1.4% in April 2022 following a fall of 1.2% in March, an outcome that was better than the -0.2% the market was looking for. Food…
General market sentiment was back in a risk averse mood yesterday, as concerns that the Fed may push the economy into recession by hiking rates aggressively to try and tame inflation weighed on sentiment. On currency markets, the action was somewhat uneventful. Safe havens held the upper hand amid the…
Strong UK jobs data; a tight labour market and strong upward pressure on private-sector wages allowed the Pound to rise on expectations that the Bank of England would take a more aggressive stance on interest rate hikes. Also contributing to the Sterling glow was a firmer risk appetite and as…
Sterling rose against both the Euro and Dollar following the release of UK labour market statistics. The data revealed a strong jump in wages and a stronger than expected fall in unemployment with the UK adding 83K jobs in the three months to March, far more than the 5K the…
The Pound to Euro exchange rate ended last week on the front foot and up from a seven month low but could likely run out of steam should parliamentary testimonies from Bank of England (BoE) and a deluge of UK economic data fall short of expectations. Pound Sterling had struggled…
The Euro came under pressure yesterday as surging gas prices threaten to trip the Eurozone economy into recession later this year and in turn, limit or completely halt the European Central Bank’s decision to raise interest rates. The repricing was triggered by another squeeze on gas supply from Russia, spiking…
Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly exchange rate update. EUR – Euro Stumbles as EU-Russia Tensions Rise The Euro initially opened this week on strong footing, as EUR investors were relieved that Vladimir…
Confidence in Sterling remained brittle as concerns for the economy and fears the Bank of England would not be able to enact aggressive rate hikes loomed like a dark cloud. With a series of aggressive rate hikes from the Federal Reserve and more hawkish rhetoric from the ECB, expectations that…