Posts Tagged ‘Dollar’
Will 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…
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 MoreCoronavirus Dominates the Market
GBP A relatively data-light week ahead in the FX market for both GBP and EUR, with UK consumer confidence being the only data drop on Friday morning. The G20 Summit took place over the weekend, in which UK officials criticised the EU over its indecision regarding the mandate presented for post-UK trade talks. The relationship…
Read MoreEuro slumps and Flash PMI’s
GBP GBP/EUR opened this morning at the highest point since the UK first decided to leave the EU back in 2016. The Pound picked up towards the back end of last week following the Prime Minister’s cabinet reshuffle and more importantly the resignation and replacement of Sajid Javid. There could be scope for further Sterling…
Read MoreHard Brexit Fears as Clash over Fishing Rights
GBP Whilst the UK attempts to recover from the disruptions caused by Storm Ciara over the weekend, GBP hit a new 2 month low against the US Dollar amid renewed concerns over the weekend suggesting that trade negotiations could collapse “within months” due to EU demands for fishing rights and unaltered access to UK’s fishing…
Read MoreUK/EU Trade Deal Hangs in the Balance
GBP The UK has formally left the EU and the Pound has started the week on a decline as Prime Minister, Boris Johnson sets out a hard-line stance for European Union talks, once again sparking fears of breaking away at the end of the 11-month transition period without agreeing a trade deal. Johnson is set…
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