Sterling Optimism, Euro Challenges, and Dollar’s Dilemma

GBP The Pound continued its upward trajectory against both the Euro and the Dollar this week, reaching multi-month highs of 1.1680 and 1.2720, respectively. Sterling’s ascent was fueled by the optimistic statements from various Bank of England (BoE) officials, including Governor Andrew Bailey, following robust UK business PMI data in the previous week. Throughout the…

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Sterling’s Surge, Euro’s Insights, and USD’s Week Ahead

GBP Pound Sterling capitalised on the optimistic statements from Bank of England policy makers during their parliamentary hearings on the November Monetary Policy Report this Tuesday. Bolstered by positive November PMI readings, indicating a return to economic growth after months of stagnation, Sterling made significant gains against most G10 peers. The fiscal landscape also played…

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Sterling Weakens on Soft Wage Data, Eurozone Concerns Loom & Dollar Holds Steady

GBP Sterling retreated against both the Euro and Dollar this week after the release of soft wage data, which further reinforced BoE’s decision to hold interest rates for the time being. The three-month-to-August Average Earnings, excluding bonuses, softened to 7.8%, as expected, compared to the previous release of 7.9%. Alongside this, Average Earnings data, including…

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Sterling Struggles Amidst Geopolitical Uncertainty, Euro Faces Headwinds and USD Regains Momentum

GBP Sterling faced additional downward pressure against the Dollar, extending its correction below the critical support level at 1.2200. This decline in GBP|USD coincides with a shift in market sentiment towards increased risk aversion. The primary reason for this shift is the ongoing Israel-Hamas conflict, which has raised concerns about potential global repercussions. The conflict…

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