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When the Covid pandemic hit early last year, it triggered a very sudden and deep recession. As a result, key central banks threw the proverbial monetary policy kitchen sink at the situation, with rate cuts and enormous QE (quantitative easing) programmes being the order of the day. However, as we…
Find out how the major currencies have been performing and what movement we could see in the days ahead with our weekly currency update. EUR – Euro Undermined by German Political Uncertainty The Euro was placed on the back foot this week, with the single currency falling through the first…
Sterling is presently edging higher against the Euro with market analysts now eyeing the 1.18 mark which forms the 2021 high. Nearly as high as Tesla Ceo Elon Musk sending civilians orbiting earth for 3 days yesterday via his SpaceX launching. The UK currency however, could face a setback on…
Sterling gained ground after the UK inflation data came in better than expected. The increase in the inflation rate triggered fresh speculation that the Bank of England would have to adopt a more hawkish policy stance. There was a shift in money-market pricing with expectations of two rate increases in…
Given the largely uneventful macro backdrop, the main currency pairs continue to operate within narrow trading ranges with most, if not all of the majors opening this morning broadly unchanged from the previous 24 hours. In level terms, EUR/USD starts the day once again near to the 1.18 threshold whilst…
Citibank says the Bank of England appears increasingly concerned over inflationary pressures in the UK and is therefore poised to raise interest rates ahead of other major central banks, including those of the Eurozone and U.S.The futures market has priced in a 57% probability of a 0.15% hike in February….
Sterling strengthened yesterday despite the tax hike worries alongside the European Central Bank (ECB) announcing its intention to begin slowing down the pace of its pandemic bond buying programme. The pound had touched a two-week low against the dollar on Wednesday and hit its weakest versus the euro since late…
Any surprises from today’s ECB’s policy update could determine the price action for the GBP/EUR pair over coming days and weeks. The Euro could see increased demand if the European Central Bank (ECB) announces it intends to begin the process of ending its extraordinary Covid crisis support programme, known as…
The pound had a quiet morning yesterday despite house prices increasing 0.7% in August and gradually drifted lower ahead of the New York open with markets focussing on fiscal policy (taxes). Boris Johnson announced that National Insurance rates would rise to 13.25% from 12% and Dividend tax rates would rise….
The pound could lose value over the next few days according to market analysts, although where it ends the week will likely rest with the outcome of Thursday’s briefing from the European Central Bank. Sterling edged lower yesterday with some concerns over the risk of renewed Brexit tensions as the…