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GBP UK Inflation data printed slightly lower than expected and consequently limited support for the Pound yesterday morning. The headline inflation rate is expected to rise in the short term but to remain under control and thus the Bank of England does not expect to tighten policy. Weaker risk conditions…
GBP The latest UK data showed a substantial increase in shopper numbers in the latest week due to the re-opening of non-essential retail across much of the UK. The expectation of a significant increase in spending provided Sterling with an element of support. Risk appetite also held firm which also…
GBP The latest data on the UK indicated that there had been a substantial increase in shopper numbers in the latest week. Although the increase was not a surprise given the re-opening of non-essential retail outlets across much of the UK, expectations of a strong increase in spending provided an…
GBP The latest ONS data recorded a further decline in UK coronavirus infection rates with the estimated proportion of people infected in the latest week down to 1 in 500. Sterling gained an element of support from relative optimism over the UK outlook with the UK currency managing to secure…
GBP With no tier one UK economic data released yesterday, markets were left waiting for evidence of the recovery potential as lockdown eases. Strong gains on equity markets, the FTSE 100 hit 13-month highs, and firm risk conditions gave some support to the Pound. There is still some caution over…
GBP Sterling was able to stabilise during Wednesday with underlying support from the vaccine programme and economic re-opening efforts. The UK will still have greater scope for economic recovery in the short term, although expectations of stronger EU vaccine rates damaged potential support for the Pound. Confidence in the global…
GBP UK GDP figures fell short of the forecasts and trade volumes remained below 2020 levels which maintained unease over underlying economic developments. This fed reservations over the longer-term recovery outlook. The Bank of England’s chief economist Andy Haldane will leave the bank in June. Mr Haldane has been optimistic…
GBP The Pound clawed back some hard fought ground after the open yesterday after defending key support levels against the Dollar and Euro. Sterling recovered from lows of 1.3670 to above 1.3750 while the Euro retreated to near 1.1560. Sterling sentiment was also buoyed by hopes that the re-opening of…
GBP The Pound was hampered by fragile underlying confidence on Friday with an expected slowdown in short-term vaccine deliveries raising doubts for the UK vaccine rollout. The Halifax house data reported a 1.1% increase in prices for March bringing the annual increase to 6.5%, up from 5.2% last month. Also,…
GBP Thursday’s positive PMI and employment data maintained confidence in the UK’s recovery outlook, but Sterling overall was unable to secure any significant support as the sharp decline this week continued to undermine sentiment. The inability to advance on robust data illustrated an important danger sign for Sterling bulls as…