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 suffered from moderate month-end selling on Friday, compounded by Northern Ireland’s High Court Ruling that Article 50 can be enacted without parliamentary approval. The ratings agency Standard & Poor’s has questioned whether Sterling can continue to be a global reserve currency.
VIEW FULL ARTICLEThe UK’s first post-Brexit GDP Quarter 3 data exceeded markets’ expectations and posted a reading of 0.5% growth, mainly due to service sector performance. The Bank of England’s latest forecast had assumed 0.3% growth for the quarter.
VIEW FULL ARTICLEYesterday, the Pound recovered following Tuesday’s comments from Treasury Head Philip Hammond that he wouldn’t oppose an extension of quantitative easing. Mortgage approvals printed slightly higher but had little effect on currencies.
VIEW FULL ARTICLEThe Pound weakened across the board yesterday, falling by 1% against the Euro and 1.16% versus the Dollar. The UK currency fell as Bank of England (BoE) Governor Mark Carney testified to the Treasury Select Committee, warning that threats to the independance of the BoE could tarnish Sterling and prompt...
VIEW FULL ARTICLEUK CBI industrial data printed substantially weaker than expected, with headline orders falling to -17 from -5 previously. The data also revealed that Sterling weakness aided the export sector and there are still expectations of rising output for the next quarter.
VIEW FULL ARTICLEThe latest UK government borrowing data printed weaker than expected with an increase in the September deficit from a year ago, maintaining concerns that the deficit would continue to grow over the next few months. The UK economist at Capital Economics, Paul Hollingsworth, expects Chancellor Philip Hammond to provide a...
VIEW FULL ARTICLESterling maintained a relatively steady tone yesterday, drifting up to 1.1235 against the Euro, and remained within a 50 pip range against the Dollar, closing not far from the opening price. UK retail sales data was slightly weaker than expected with an unchanged reading for September, although the August data...
VIEW FULL ARTICLESterling saw some improvement during yesterday's European trading session as we saw slight rises against both the Dollar and the Euro; the UK currency’s biggest one-day gain in a month. The UK unemployment rate held steady at 4.9%.
VIEW FULL ARTICLEThe Pound jumped on the news that Parliament will ratify the final version of the Brexit deal, when negotiated, and this outweighed concerns about a larger than expected rise in inflation. Sterling produced one of its best daily performances since July, gaining 1% against the Euro and reaching 1.2315 against...
VIEW FULL ARTICLEThe Pound gained against the Dollar as market participants continued to digest recent tepid results from across the pond. GBP is trading with apparent support around the 1.2130 against the Greenback, as fears of a ‘hard Brexit’ seem to have lessened.
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