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Sterling fell amid concerns over the surge in energy costs and supply difficulties, slumping to 8-month lows around 1.3525 while the Euro strengthened sharply to 1.1587. New Bank of England MPC member Mann stated that inflation expectations rising to an 8-year high doesn’t faze her, leading markets to speculate that…
Sterling recovered yesterday morning as the currency markets took note that other major economies were facing problems surrounding soaring energy prices as well. The Pound peaked around 1.3730 to the dollar before fading while the Euro retreated to near 1.1725. Bank of England Governor Andrew Bailey commented that the economic…
UK September retail sales dropped sharply, falling well below consensus forecasts, with stock levels too low again. Companies are expecting a better performance for October. The poor data release hampered the Pound and raised doubts that the Bank of England would keep the upbeat policy message over the next few…
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 Wavers amid German Election Uncertainty The Euro fluctuated this week amidst elevated German political uncertainty, ahead of this weekend’s general election….
The Bank of England remains on track to raise interest rates in the first half of 2022 having delivered a more positive policy update, with market analysts pointing to the optimistic tone used saying it was a necessary means to ensure the Pound remains supportive of the Bank’s inflation objectives….
Whilst we have you covered for all your foreign exchange and international payments, we appreciate that your role can encompass so much more. We have therefore partnered with Boardroom Advisors to give you the opportunity to undergo a full financial review of your business. During what continues to be a…
In global economic news, Evergrande, the Chinese property company that caused global concern earlier this week will be able to make an interest payment due today, and a cash injection into the financial system by the Chinese central bank has also eased some traders’ concerns. Over in the US, at…
UK CBI industrial orders index beat expectations and also printed the strongest reading since 1977, and export orders posting the best reading since March 2019. Supply-chain difficulties and inflation remained strong. But despite the positive data result Sterling struggled to make any headway, especially with further doubts that the Bank…
Yesterday the risk averse tone seen across the markets on the back of Chinese property concerns saw safe haven currencies such as the Swiss franc and Japanese yen benefiting the most. Sterling was holding a slightly softer position against the euro and the dollar. Despite a strong risk-off mood yesterday…
During the referendum campaign, the Remain camp made much of the potential negative economic impacts Brexit could have on the UK due to increased red tape when trading with the EU, the UK’s largest trading partner. Now that the UK has fully left the EU and the transition period has…