Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
The Pound was unable to capitalise on Dollar selling yesterday following the news of no US rate hike. This came in part due to month-end Sterling selling, but also from news of Lloyds Bank job cuts mildly undermining Sterling confidence.
VIEW FULL ARTICLEThe trading day started poorly for the US yesterday as headline durable goods data for June showed a decline of 4.0%. This was followed by an unsurprising Federal Open Market Committee (FOMC) statement, in which there was no change to US interest rates despite the positive outlook for the US economy.
VIEW FULL ARTICLESterling recovered from a poor Asian trading session yesterday, moving up from 1.3080 to 1.3154 against the Dollar. Selling pressure on the UK currency was maintained, however, as Cable (GBPUSD) fell back to 1.3115 where it opened this morning.
VIEW FULL ARTICLESterling remained confined within a broad trading range yesterday, struggling for direction in absence of any tier one economic releases from the UK. The CBI report was released yesterday and there was a substantial slide in business confidence to -47%, the lowest level since 2009.
VIEW FULL ARTICLESterling dropped on Friday after the flash PMI for services and manufacturing showed a contraction. This was the first real post-Brexit decision data. The manufacturing PMI printed at 49.1, down from 52.1, whilst services PMI printed at the lowest figure since March 2009 at 47.4, down from 52.3.
VIEW FULL ARTICLEThe latest UK retail sales data printed weaker than expected with a decline of 0.9% for June. This data includes the 5 weeks up to 2nd July, meaning the post-Brexit period was not measured. There was some good news yesterday - a decline in the latest government borrowing data.
VIEW FULL ARTICLEThe UK labour market report showed the unemployment rate falling to an 11-year low of 4.9%. The stronger than expected gain for unemployment, along with a smaller than expected increase in the claimant count, helped boost underlying confidence in the UK economy.
VIEW FULL ARTICLEHeadline UK consumer inflation data printed slightly stronger than expected with the annual increase at 0.5% for June, from 0.3% previously, while the core rate rose to 1.4% from 1.2%. Furthermore, Producer Price Index prices increased for the second consecutive month.
VIEW FULL ARTICLESterling rose during Monday's trading as an optimistic tone was heard from Bank of England rate setter Martin Weale. He commented that he would be patient when it comes to deciding for more stimulus post-Brexit as he believes that it is still too early to assess and understand the effect...
VIEW FULL ARTICLEFriday saw the market continue to react to the Bank of England’s (BoE) decision to hold interest rates at 0.5%. The BoE is now saying that there is no chance of 0% interest rates and that 0.25% will be minimum level.
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