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GBP UK services-sector purchasing manager’s index was revised down slightly to 56.3 in the final reading. The data gave no help to the Pound and there was sustained selling pressure especially with unease over the AstraZeneca vaccine undermining confidence. Sterling fell to lows near 1.3730 to the Dollar and 1.1540…
GBP The Pound was held in check by the Euro yesterday morning and Pound selling increased after the Euro moved back below 1.1765. Sterling also failed to hold above 1.3900 to the Dollar which also triggered renewed selling interest leading to lows near 1.3820 and the Euro strengthened to near…
GBP Ahead of the Bank Holiday weekend the Pound was fairly stagnant, trading within narrow ranges, supported near 1.3800 to the US dollar. Futures market data showed an increase in bets on Sterling strengthening, for the first time in a month. Boris Johnson confirmed that the next phase of restriction…
GBP UK mortgage approvals dipped slightly below forecasts as homebuyers were uncertain as to whether the stamp duty holidays would continue beyond March, although the amount of mortgage lending rose to £6.2bn for the month, a 5 year high. Personal lending data showed a decrease to £1.25bn for the month…
GBP Sterling retreated further yesterday after the much weaker than expected inflation. In response, the Pound fell to 6-week lows against the dollar, below the 1.3700 mark. The Pound did secure a boost later in the day from the stronger than expected business confidence data but struggled to sustain the…
GBP UK labour-market data generated little positive impact as the ILO unemployment rate for the three months leading to January ticked down to 5%, 0.2% below a forecast of 5.2% was offset by average earnings including bonuses for the same time period dropping 0.1% to 4.1%. Lee out of work…
GBP Sterling continued to fall yesterday despite underlying confidence in the UK’s economic recovery. The row with the EU over vaccines however was a significant factor undermining confidence. Prime Minister Johnson stated that he was reassured over EU intentions and that it was vital to avoid vaccine blockades, although he…
GBP Sterling held firm early on Friday but gradually declined throughout the day. There were concerns over a slowdown in the delivery from the vaccination program throughout April, but the UK government is still positive that all adults can be vaccinated by the end of July. The UK recorded its…
GBP As expected the The Bank of England made no changes to interest rates or asset purchasing yesterday. Also as expected the Bank upgraded the economic outlook for the UK economy anticipating a slightly stronger outlook for consumption growth in Q2. The Bank’s governor Andrew Bailey was keen to reiterate…
GBP Sterling held firm but failed to make further progress before the market open yesterday and the Euro prevented a move above the 1.1695 level. After Wall Street opened, around lunchtime, the Pound due to concerns that the EU threatened to ban vaccine exports from the area (to the UK)…