Brexit, EU Summit and US Stimulus Talks
GBP The pound finished the week strongly and managed to match the weekly high against the Dollar at just over 1.30 as sentiment towards the UK EU negotiations turned positive yet again. Against the Euro the Pound spent most of the week bouncing between 1.1015 and 1.0960, the price action fuelled by headlines about the…
Read MoreAll eyes on Trump
GBP The Pound had a roller coaster week as it reacted to every headline and rumour coming out of the Brexit negotiations, with the volatility reaching 1.4% for the week. Though given the volatility the pound still managed to finish the week 0.3% up against the euro and just over 1% against the dollar. The…
Read MoreBrexit’s Final Showdown
GBP Last week the pound fell 1.8% against the dollar but gained 0.5% against the euro. The reason for the fall against the dollar was down to dollar strength compared to sterling weakness. The pound gained a boost on Thursday as Bank of England Governor Andrew Bailey commented on the use of negative interest rates…
Read MoreSecond lockdown and Brexit weigh on the pound
GBP The pound managed to regain some of the losses it has sustain since the release of the Internal Markets Bill and strengthened by one percent against both the US dollar and the euro. Sterling managed to survive the Bank of England’s dovish rate decision, which hinted at the use of negative interest rates soon.…
Read MoreAnother tough week for the Pound
GBP Last week the Pound fell by almost 4% against the euro due to the release of the Internal Market Bill which in the governments’ own words would breach international law. Boris Johnson said the bill is intended only as “a legal safety net designed to protect our country against extreme or irrational interpretations”. But…
Read MoreWill the ECB match the FED?
GBP The pound finished down 1.3% against the dollar last week after hitting an 8-month high of 1.3482 on Tuesday. Against the Euro, the pound ended the week flat but a 3-month high 1.1280 was hit on Wednesday. The pound saw most of its weakness come off the back of a Reuters report that the…
Read MoreDollar Down Yet Again
GBP Last week the pound made gains against both the euro and dollar, of 1.1% and 2% respectively. This largely due to a background of data releases for the July-August period showing that the UK economic recovery is accelerating, in addition Bank of England Governor Andrew Baily stated that there is ample firepower left to…
Read MoreThe First ever virtual Jackson Hole Symposium
GBP The pound had a turbulent second half of last week, on Wednesday it nearly equaled the year high against the dollar before dropping a percent and a half. Cable then repeated this pattern over the course of Thursday afternoon and into Friday. Against the euro we saw a similar volatility of 1.4% towards the…
Read MoreMarkets await Tuesday’s trade talks
GBP The pound finished the week 0.3% higher against the dollar compared to the opening rate on Monday morning. Though this is a small move overall we saw 1% of total volatility in cable, most of this coming off the back of the UK officially entering a technical recession after posting negative growth of 20.4%…
Read MoreSterling looks to build on firm foundations
GBP The pound ended last week flat after trading in a 15-pip range against the Euro for the whole of Friday afternoon. Against the Dollar it lost some of the gains it had racked up during the back end of the week but remained firmly above 1.30. GBP has a busy mid-week data schedule with…
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