Posts

Sterling remained on the defensive yesterday and the Dollar retained the upper hand as investors bought Dollars as a safe haven amid concerns around the spread of the delta variant. GPUSD traded in territory not seen since February as it briefly hit a low of 1.3572, and the  EURGBP also…

There was a mixed tone to investor sentiment on financial markets yesterday with the US Dollar holding a firmer tone following the release of US CPI data for June. Both the headline CPI and core CPI increased by 0.9% in the month, almost double the 0.5% consensus forecast for each…

For the most part last week currency action continued to be confined to fairly narrow ranges with a backdrop of Covid variants still causing concern. The USD saw some gains but this was chipped away with EUR/USD and GBP/USD both finishing the week in a relatively similar position to where…

UK construction data showed further growth in new orders, hampered by delivery times lengthening by a record amount and employment increased as did the prices paid.  The Pound failed to move above 1.3900 against the Dollar following the data and dropped when the US market opened at lunchtime as markets…

Sterling had a listless performance yesterday after Bank of England Governor Andrew noted that the UK economy is likely to revert to lower growth longer-term, but reiterated that the rise in inflation will probably be transitory (so no hint of raising interest rates). Brussels agreed a temporary truce on the…

The UK Government unveiled plans to offer subsidies to companies with a “more agile and flexible” system than pre-Brexit when the U.K. had to follow the EU’s state aid regime. In Covid news, the latest figures reveal 20,479 new cases, a drop of 2,389 on the day before but sadly…

There was a mixed tone to investor sentiment yesterday, reflecting concerns regarding the delta variant of Covid-19. As many currencies stood on the back foot for much of the day. UK Health Secretary Sajid Javid wants to stick with the new reopening date of July 19 and insists that a…

Sterling dropped fairly significantly against its major peers yesterday after the Bank of England offered no positive news regarding interest rates, whilst this was not unexpected the Pound still weakened. The Bank actually sounded fairly upbeat on the outlook for the UK economy but would prefer to keep its powder…

BNP Paribas have named the British Pound as their top pick in a regular quarterly economic briefing, stating that the UK’s economy will likely outperform its peers and allow the Bank of England to raise interest rates in August 2022. Creating supportive forces for most if not all Pound pair…

Sterling will attempt to recover this week from recent lows but any gains depend on the rising fears about how the UK is being left behind in the return to normality. Sterling’s rebound which has largely been driven by the success in the vaccine rollout is in danger of fizzling…