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GBP Last week, Sterling was unable to take advantage of a weak Dollar, settling just below 1.3000 and teasing eight-month lows against the Euro. Overall UK currency sentiment remained weak, with the surprise of last week’s Consumer Price Index (CPI) reading lower than expected knocking confidence. With underlying pressure for an…
GBP Sterling fell against both the Dollar and Euro yesterday after economic data showed inflation in the UK unexpectedly slowing for the first time since October last year, lowering expectations of an interest rate hike this year. The Pound jumped last month when various members of the Bank of England’s (BoE)…
GBP Sterling peaked just above 1.3100 against the Dollar yesterday for the second trading day in a row, after clawing its way to its highest levels for 10 months. Market participants were cautious as four days of Brexit negotiations began in Brussels. The Pound started this week by edging down from…
GBP The Pound reached its highest point versus the US Dollar in 10 months on Friday, increasing by 1% after economic data further undermined expectations for more interest rate hikes in the US. After a bad start to last week driven by poor British economic numbers, the Pound is now up…
For many businesses, the solution lies in working with a specialist provider, which can be cheaper and results in no hidden costs. Research carried out by Currency UK in 2015 shows a currency specialist would lead to savings of £3,327 per year for a business transacting a representative £170,000 annually…
Tensions surrounding the EU referendum increased on Friday and through the weekend as the negative data trend for the UK continued. Monthly construction output printed at -3.6%, significantly worse than both the predicted -2.8% and the previous -0.9%. Following this, Sterling dropped to its lowest level against the Dollar in…
Bank of England monetary policy statement headlines the economic calendar today. Mark Carney and co. are expected to keep things unchanged for now, putting the spotlight on minutes of the MPC committee meeting. Priced-in BOE rate hike expectations have tumbled over recent weeks, making it relatively difficult to engineer a…
The pound has been having a torrid time since the turn of the year as it hit a five-and-half year low against the dollar after weak UK industrial and manufacturing production data. At one point the pound traded at 1.4364, down a cent and a half. Industrial output (MoM) fell…
A day of mixed performances for the majors yesterday as the week started with limited volatility due to the lack of any important economic events. The more important news events are expected towards the end of the week hence we should expect more of the same today as the main…
Following a very strong jobs report on Friday the dollar has continued to strengthen, though much of its strength is not necessarily from the economic data. Non-Farm Payrolls came in at 292K, way above the forecast 200K. Average hourly earnings also grew but less than expected, it must be noted…