Posts by Currency Global

GBP Sterling hit a two-week high against the Dollar last week, with political worries in Europe and the US providing a distraction for the Pound. The House of Lords is continuing to debate the bill that will trigger the UK’s exit from the European Union. Although the legislation is not expected to be blocked by…

Last week saw inflation reach a two and a half year high, mainly due to the cost of petrol and diesel, in turn hiking the cost of living. The Office for National Statistics released figures showing that inflation had risen to 1.8% from 1.6% in December, just shy of the Bank of England’s 2% target.…

GBP Sterling edged higher this morning, adding to last week’s gains against the Euro, after better than expected manufacturing and trade data. Inflation adjusted consumer spending rose 0.4% in the year to January, sharply down from 2.5% in December, adding to signs that consumer spending is starting to lose momentum. In a speech in Leeds last…

The Bank of England kept its interest rate at a record low of 0.25% last Thursday. The Monetary Policy Committee (MPC) voted 9-0 against a stimulus increase. Governor Mark Carney warned that the ‘Brexit-journey’ has only just begun and warned that politicians are becoming more important to the global economy than central banks. GBP The Bank of…

A data heavy week this week, including ‘Super Thursday’ from the Bank of England along with interest rate decisions from the Bank of Japan and the Federal Reserve in the US. Governor Carney is likely to stick to his neutral stance on whether to cut interest rates in the short term, mainly due to the…

Last week, Sterling posted its largest single-day gain since 2008 after Prime Minister Theresa May’s Brexit speech. May stated that the UK would leave the EU single market but was interested in a free-trade agreement with the continent.  Germany’s finance minister has urged the UK to look to Switzerland when it comes to its post-Brexit…

Reports yesterday that Prime minister Theresa May would outline moves for a hard, clean break from the European Union has caused a Sterling sell-off this morning. At one point, the pound had lost 1.6% against the US Dollar. President-elect Donald Trump’s inauguration is this Friday, 20th January. The beginning of a new era for the…

President-elect Donald Trump has conceded that Russia conducted cyber-attacks during the US election. However, he stated that only ‘stupid people’ would question closer relations with Russia. Trumps special adviser also confirmed that he will not be punishing Moscow for the attacks. GBP Prime minister Theresa May has indicated that Britain will leave the EU single market,…

Happy new year and best wishes for 2017 from the team at Currency Global! What a year 2016 was – Brexit and Sterling’s dramatic slide, Trumps election victory, oil prices plunging and the Dollar’s rally among others: we were never short of attention-grabbing headlines. Yet there are still reasons to hope that 2017, like 2016,…

As expected, the Federal Reserve decided to raise its benchmark interest rate last Wednesday and upped its expectation for the number of rate hikes in 2017. The move, which markets saw a 100% probability of, will increase the target of the federal funds rate, which banks use to lend to each other overnight — by 25…