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Yesterday returned mixed results for the Pound with losses recorded versus the Dollar as the pair reached a fresh five-month low. The losses were as a result of worse than expected UK GDP figures which showed that the UK economy is losing momentum as we approach the final quarter of…
This morning, the Euro opens marginally weaker versus its most traded counterparts. Given the recent optimism in the Eurozone, particularly when considering fundamental economic improvements, those backing the bloc currency were disappointed to see that German retails sales came in showing a monthly contraction of 0.4% in August. This in…
The market opens with the Pound benefiting from a marginal bid tone, pulling back some of the losses against the Dollar as we trade close to a key level of support. The tone is expected to be relatively muted though as market sentiment continues to trade in a risk averse…
Sterling gained ground versus the US Dollar for a second day yesterday and continues to move away from last week’s multi-month low. It is being lifted by improved risk sentiment in global markets and by the announcement from Japanese insurers Mitsui Sumitomo Insurance that they had agreed to purchase British…
After a disappointing week for the Pound versus the Dollar, the pair looks to have picked up some pace this morning in favour of GBP. Bouncing off lows from the back end of last week, Sterling has found fresh buyers today, posting moderate gains and pushing through a key psychological…