Posts Tagged ‘BoE’
The Pound in Limbo, Dollar Continuing to Struggle and the Euro in for a Difficult Week
GBP Yet another rangebound week for the pound against the euro as it traded in a one and half percent range between 1.0931 and 1.1096. The price action has been driven as always by Brexit headlines though it feels that we are inches towards a deal as Emmanuel Macron was reported to concede his hard…
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 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 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 MoreWorld Economy slumps over Coronavirus
GBP & EUR GBP fell on average 3% against all major currency pairs over the last one week, drawing a fresh 5-month low on GBP/EUR and GBP/USD. Last week we saw both the UK & EU play hard ball with their mandate of an ideal trade deal, which saw GBP come off towards the back…
Read MoreBank of England signals August interest rate rise
Sterling Sterling rallied higher on Thursday after the Bank of England switched their interest rate votes to 6-3. GBP/USD hit year-to-date lows on Thursday but bounced on the BoE decision. Brexit related uncertainty had also provided a weight, but this dissipated as Prime Minister Theresa May avoided a rebellion midweek. On the event calendar…
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