Posts
Sterling sentiment remained poor as on-going fears for the economic outlook and important concerns surrounding the outlook for consumer spending given that energy prices have rocketed. There were also further expectations that interest rates may not rise much further this year. Brexit tensions rose again on fresh reports that the…
Sterling was subjected to further selling pressure after Monday’s European open amid further domestic and global pressures. Confidence in the UK economy remains notably weak. Sterling dipped to fresh 22-month lows close to 1.2260 against the dollar. BRC (British Retail Consortium) data recorded a 1.7% decline in like-for-like sales in…
GBP Sterling has fallen 0.5% to its lowest since mid year 2020. 1.2250 is acting as the short term resistance level, as general market risk aversion has led to US dollar demand. The Bank of England’s gloomy outlook, has been informed by China’s continued covid restrictions, G7 sanctions on Russia…
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 Rebounds Following Slow Start The Euro stumbled at the start of this week, with the single currency being undermined by weaker-than-expected…
The British Pound approaches the weekend attempting to recover some of the significant losses against its major counterparties after the Bank of England painted a bleak picture of the economic outlook. The central bank surprised markets with the sheer gloom of the economic forecasts published in its Monetary Policy Report,…
The action on markets remained relatively subdued yesterday, as investors kept their powder dry ahead of the conclusion of the Fed monetary policy meeting last night, and the BoE today. The main pairs traded in relatively narrow ranges throughout the European session although the euro was holding a slightly firmer…
German labour-market data unemployment reduced by 13,000 after an 18,000 decline last month. Russian “victory day” on May 9th has generated concerns of further escalation in Ukraine with the pressure to show results. ECB council member Schnabel stated that the central bank may need to raise interest rates in July…
Foreign exchange plays a key role for many businesses whether this is for buying raw materials, selling overseas, or seeking foreign investment. While factoring in foreign exchange won’t be new to businesses, other ‘hidden’ costs and pitfalls associated with international payments might come as a surprise. People are sometimes distracted…
For businesses who have known outbound (or inbound) foreign exchange requirements, they will need to include this as part of their budgeting process. This can be difficult as although they may know they require a certain amount of foreign currency over a year they don’t know what the exchange rate…
The dust has begun to settle on Brexit. The domestic turbulence experienced in the years following the 2016 referendum may now seem distant considering the global implications of the pandemic. Despite this, the UK’s relationship with the EU and the wider world has still changed in ways that are being…