STERLING The pound fell last week, retracing some of the prior week’s bullish run, as Bank of England Governor Mark Carney walked back recent rate hike comments. Brexit, which prompted Mark Carney to cut U.K. interest rates for the first time in seven years in 2016, is now pushing in the other direction. In a…

STERLING Sterling was the strongest G10 currency last week following an unexpectedly hawkish statement from the Bank of England. The majority of the Monetary Policy Committee are of the belief that if the economy continues to follow a path consistent with the prospect of an erosion of slack, along with a gradual rise in underlying…

STERLING The pound saw a modest gain on balance last week. Stronger-than-expected manufacturing production figures released on Friday provided a boost although data impulses from earlier in the week were to the downside after construction and service sector PMI fell short of expectations. Brexit negotiations also appear to have stuttered with EU Brexit Minister Barnier…

STERLING The Pound rose against most of its G10 peers last week, despite another round of Brexit negotiations ending with little progress. However, UK PM Theresa May’s trip to Japan showed that there was a road ahead for British companies, while Sterling will have also benefited from a modest uptick in GFK consumer confidence and…

STERLING The pound was little changed for the most part last week. Losses seen on Wednesday were reversed on Thursday and Friday after UK GDP was confirmed at the flash readings of +0.3% Q/Q and +1.7% Y/Y. Brexit impulses were limited although the UK government did state on Monday that they were confident they will…

STERLING Sterling was one of the weakest G10 currencies last week. Inflation figures released on Tuesday provided a notable weight after CPI came in a touch softer than expected at 2.6% against a forecast of 2.7%. The pound then failed to derive much support from the stronger average earning figures released on Wednesday. Brexit developments…

STERLING Sterling was one of the weakest G10 currencies last week. The escalation of tensions between the US and North Korea weighed on the UK currency for most of the week while there were also a few domestic factors at play. Sky news reported on Tuesday that Prime Minister Theresa May is expected to harden…

STERLING The Pound was one of the weaker G10 currencies last week. Price action in the currency was dictated by the Bank of England, whereby the central bank kept interest rates on hold at 0.25%, alongside an expected 6-2 vote. Meanwhile, the Quarterly Inflation Report showed the Bank of England had downgraded their growth and…

STERLING The pound was one of the stronger G10 currencies last week. It began the week on the front foot as investors chose to ignore lower growth forecasts from the IMF and instead focus on reduced expectations of a cliff-edge Brexit scenario. The bulk of last week’s gains came on Wednesday after UK GDP was…

STERLING Sterling closed lower against the major G10 currencies last week, as second round Brexit talks commenced amid whispers of a divided UK Cabinet with the Bank of England likely to stand pat on interest rates for the time being. On Tuesday, CPI data came in below estimates, challenging the notion of a Bank of…