Posts Tagged ‘COVID-19’
Fed Minutes Likely to Boost Dollar
GBP The pound had a poor week as it lost ground versus every G10 currency, bar the Swiss Franc. Versus the dollar and euro, sterling depreciated by 0.3%. It appears that the bullish sentiment on the pound has lost support over the last week, as markets start to question the Bank of England’s optimistic outlook,…
Read MoreBOE Looks to Remain Dovish
GBP The pound was the third best G10 currency last week as it strengthened by 1.2% versus the dollar and 0.3% against the euro. Falling Covid numbers helped to give sterling a boost, as investors regained confidence in UK economy and are no longer worried about restrictions needing to be put back in place. In…
Read MoreAll Eyes on the ECB
GBP The pound finished the week down against both the dollar and euro despite the change in tone from the Bank of England and better than expected CPI figures. Two speeches last week from Monetary Policy Members Ramsden and Saunders were more hawkish than the markets expected, and sterling rallied off the back of it,…
Read MorePound Needs BOE’s Support to Push Higher
GBP The pound had a volatile time last week with both positive and negatives driving the currency up and down. On Thursday, the Bank of England Governor Andrew Baily made a speech where he warned overreacting to “temporary” inflationary pressures, prompting some re-pricing in tightening expectations and sell off in Sterling. On the positive side,…
Read MoreCan the Fed Still Ignore Inflation?
GBP The Pound had a mixed week making a small gain of 0.1% against the Euro but fell by 0.4% against the Dollar. April’s GDP and industrial production figures were slightly disappointing on Friday and the hangover from Brexit has weighed on the Pound. The so called “sausage war” is leading to growing tensions between…
Read MoreJune’s Big Unlock Looks to Push Pound Higher
GBP The Pound was the third best performing G10 currency last week losing only a small amount to both the Canadian Dollar and Swiss Franc. Against the Euro, Sterling finished up by 0.1% but spent the week trading in an 80-pip range and bouncing between 1.1570 and 1.1650. Versus the Dollar there was an increase…
Read MoreCovid 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 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…
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