Sterling Weakens on Soft Wage Data, Eurozone Concerns Loom & Dollar Holds Steady

By Currency Global | October 17, 2023

GBP Sterling retreated against both the Euro and Dollar this week after the release of soft wage data, which further reinforced BoE’s decision to hold interest rates for the time being. The three-month-to-August Average Earnings, excluding bonuses, softened to 7.8%, as expected, compared to the previous release of 7.9%. Alongside this, Average Earnings data, including…

Read More

Sterling Struggles Amidst Geopolitical Uncertainty, Euro Faces Headwinds and USD Regains Momentum

By Currency Global | October 9, 2023

GBP Sterling faced additional downward pressure against the Dollar, extending its correction below the critical support level at 1.2200. This decline in GBP|USD coincides with a shift in market sentiment towards increased risk aversion. The primary reason for this shift is the ongoing Israel-Hamas conflict, which has raised concerns about potential global repercussions. The conflict…

Read More