Posts Tagged ‘Bank of England’
Another Deadline Broken as Talks Drag On
GBP The Pound was the worst performing G10 currency last week as hopes for a trade deal between the UK and EU started to wane. Boris Johnson arrived in Brussels on Wednesday evening to have dinner with Ursula von der Leyen but was unable to close the gap on any of the key sticking points.…
Read MoreMPC keep interest rates on hold as probability of a cut jumps to 20%
STERLING The Bank of England kept rates on hold on Thursday via a 9-0 vote but cut growth forecasts which initially weighed on the pound, with the market now pricing in a 20% chance of an interest rate cut this year. Still, Sterling recovered into the weekend and has been trading at a two week…
Read MoreBoE to meet on Thursday
STERLING The Bank of England meet on Thursday for their latest rate setting meeting and this could keep movements in the pound to a minimum before hand – GBP/USD was flat at 1.2590 this morning, although has dropped to 1.2550 this afternoon. Economists are predicting a 9-0 vote by the MPC although there is the…
Read MoreTrump threatens China with increased tariffs
US DOLLAR The Dollar Index inched higher yesterday morning to 97.6 having declined on Friday’s jobs report as soft wage data overshadowed a strong non-farm payrolls print (+263,000) with the unemployment rate falling to 3.6%, a 50-year low. The Trump administration continued to raise the temperature in trade tensions with China yesterday, with top trade…
Read MoreSuper Thursday at the Bank of England
STERLING Brexit related developments haven taken somewhat of a backseat for the pound of late although GBP/USD dipped below 1.29 last week to a two-month low of 1.2865. The pair has inched higher overnight despite warnings from rating agencies on Friday that the UK rating is still at risk from a no-deal Brexit. Looking ahead,…
Read MoreUS-China trade talks set to resume
STERLING The Pound hit its lowest level against the US Dollar in over two-weeks on Thursday at 1.2854 after the Bank of England voted 9-0 to leave the Bank Rate on hold at 0.75%. Growth forecast’s they predicted only three months ago were revised lower from 1.7% to 1.2%. The Pound strengthened during the press…
Read MoreBank of England leaves rates on hold amid Brexit uncertainty
STERLING The Bank of England voted 9-0 to leave the Bank Rate on hold last week but did mention rising uncertainty related to Brexit. The release promoted only a brief drop in Sterling with GBP/USD later topping out at a six-week high on Friday at 1.3144. Brexit related headlines were mixed although the most notable…
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