Market reports
Covid Variants Could Dampen Pounds Potential
GBP The Pound was the top performing G10 currency last week, increasing by 0.8% against the Dollar and just under 1% versus the Euro. GBP/EUR closed the week just above 1.16 following its best week since February. Sterling benefited from an expiry of election related political risks, as well as first quarter GDP data that…
Read MorePoor US Employment Report Fuels Dollar Sell-off
GBP The Pound had a stellar week versus the Dollar increasing by 1.2% but was unable to achieve the same against the Euro, as the pair finished flat for the week. The Scottish National Party won 64 of the 129 seats at Holyrood and Scotland’s first minister Nicola Sturgeon has told Prime Minister Boris Johnson…
Read MoreGlobal Growth Looks Positive Despite Rising Covid Cases
GBP The pound made gains of 0.4% against the dollar this week but lost 0.7% versus the euro as markets try to price in the everchanging effect of Covid on the global economy. The economic data released for the UK last week showed that the economy is recovering well as restrictions get lifted. Retail sales…
Read MorePound Undervalued According to Major Banks
GBP The pound manged to regain some of the losses it sustained the week before, increasing by 0.3% against the Euro and 0.9% against the Dollar. Though Sterling did suffer a shock at the beginning of the week when the Bank of England’s Chief economist Andy Haldane announced he would be leaving the bank. Haldane…
Read MorePound Looks to Regain Recent Losses
GBP The pound had a mixed week, gaining 0.3% against the euro but weakening 0.9% against the dollar. The FX markets have been extremely volatile over the last week due to several factors influencing the markets. Sterling went through what looked like a corrective phase versus the euro dropping to a 20-day high mid-week before…
Read MoreThird Wave Looms Over Europe
GBP Although there was significant intraday volatility throughout the week the pound ended the week flat versus the euro and down 0.4% to the dollar. The Bank of England’s monetary policy committee meeting was the main talking point for the where the bank voted to unanimously keep rates at 0.1%. Though the pound did not…
Read MoreBonds Selloff Gives the Dollar Short Term Strength
GBP The unrivalled strength of the Pound driven by the vaccine rollout now looks to have come to an end as the bond and equity markets had a difficult week. Sterling ended the week 0.6% lower against the dollar, most of this move came after the equity sell off in the United States on Thursday…
Read MoreWill Rishi’s Budget Back the Pound?
GBP Sterling started the week in the same vein as it had for entirety of 2021, reaching new highs against both dollar and euro in the early hours of Thursday morning. This strength came of a back of a rumour from the Telegraph that the lockdown roadmap may be able to be shortened if everything…
Read MoreVaccine continues to push Pound higher
GBP Once again, the pound advanced against both the dollar and euro by 1% and 1.1% respectively. The only G10 currency the pound failed to make gains against was the Australian dollar but only by 0.2% as the power of the vaccine success continued to push sterling higher. The UK economy looks set to make…
Read MoreNew Year, New Lockdown
GBP The Pound started the year off well following the announcement of UK-EU trade deal just before Christmas but then started to struggle as Covid-19 cases continue to rise. Against the Euro the pound fell by just over one percent and had similar results against the Dollar though did hit a high since May 2018…
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