STERLING It was somewhat of a mixed week for Sterling. The Pound saw a broadly weaker start to the week after press reports suggested deteriorating relations between the UK and Europe. EU officials were supposedly united on taking a hard stance in the upcoming Brexit negotiations while UK PM May had apparently threatened to walk…

STERLING The Pound saw gains against most of the majors last week as polls continued to suggest that the ruling Conservatives would strengthen their position in June 8th general election and therefore head into the Brexit negotiations in a stronger position. Relative Sterling strength stayed even after softer than expected GDP and housing data, with…

STERLING The Pound saw strong gains against most of the major currencies last week, after rallying sharply on Tuesday on news that the UK would hold a snap general-election in June. Polls would suggest that the ruling Conservatives would strengthen their position in government and therefore head into the Brexit negotiations in a stronger position.…

STERLING The Pound was mostly firmer last week, aided by a higher than expected headline CPI number while average earnings also rose. The Pound gained 1.2% against the Dollar and 0.9% against the Euro but lost 1.1% against the Yen. Newswires were quiet on Brexit to the benefit of the Pound, with little colour on…

STERLING The Pound was broadly lower last week, weighed by disappointing macro data and some dovish Bank of England rhetoric. The pound lost nearly 1.5% against the Dollar, 0.8% against the Euro and 1.7% against the Yen. We began on Monday with a miss for UK manufacturing PMI, followed by a soft construction PMI figure…

STERLING Sterling experienced volatility last week, prompted by the UK officially starting the process of their withdrawal from the European Union. The pound was under pressure early in the week amid nerves ahead of the formal triggering of Article 50 and the Scottish parliament voting in favour of a second independence referendum. However, a sharp…

US DOLLAR Developments in Washington were the main driver behind the US Dollar last week as House Republicans struggled to gather the votes needed to begin the repeal and replacement of the ‘Affordable Care Act’. This put the US currency on the back foot against most of the majors as investors worried that a delay…

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…