Posts Tagged ‘Inflation’
Sterling Holds Firm, Euro Weakens, Dollar Gains as US Election and Central Banks Take Focus
GBP Sterling has been one of the best-performing major currencies in 2024, thanks to the Bank of England’s cautious stance on cutting interest rates and better-than-expected economic data earlier in the year. If the upcoming budget is well received, and the BoE continues to take a measured approach to rate reductions, the Pound could maintain…
Read MoreGBP Struggles Amid Middle East Tensions, Focus Shifts to ECB and Fed Rate Moves
GBP The Pound Sterling started the week on the back foot, weakening against its major peers as market sentiment took a hit. At the time of writing, GBP|USD and GBP|EUR are trading at 1.3098 and 1.1913, respectively. Growing tensions in the Middle East, particularly between Iran and Israel, have sparked concerns. Over the weekend, Israel…
Read MoreSterling Rises on Strong UK Inflation, Markets Eye Fed’s Interest Rate Decision
GBP The British Pound strengthened during Wednesday’s London session following hotter-than-expected UK inflation data for August. At the time of writing, GBP|USD was nearing 1.3220, while GBP|EUR held around 1.1875. Volatility is expected later today with the Federal Reserve’s monetary policy decision at 18:00 GMT. According to the Office for National Statistics, core Consumer Price…
Read MorePound Gains as BoE Eyes Cautious Easing; Euro Stagnates Amid Weak Data; Dollar Under Pressure Ahead of Key Fed Decision
GBP The Pound showed strength against its major peers during this morning’s session, driven by expectations that the Bank of England will slow its policy-easing cycle compared to other central banks. Despite a noticeable slowdown in UK services inflation (a key indicator closely watched by BoE policymakers) the reduction hasn’t been sufficient to trigger aggressive…
Read MoreSterling Upbeat on Economic Growth, Euro Flattens & Dollar Shows Strength Amid Election Speculation
GBP Sterling has experienced significant movement as of late, boosted by a resilient economy and hopes for political stability. Top tier banks are optimistic about the Pound’s performance, with forecasts suggesting it will continue to strengthen. This year, the Pound has been the best-performing major currency, climbing around 2% against the Dollar to 1.30 (now…
Read MoreSterling Under Pressure, Eurozone Awaits Key Data, US Dollar Reacts to Fed Signals
GBP Sterling faced rejection once again at the $1.28 level against the US Dollar but is still holding strong above €1.18 against the Euro. Last week investors were seeing less than a 50% chance of an interest rate hike in August. This, combined with the European Central Bank cutting rates last week, pushed the Pound…
Read MoreSterling Showing Strength, Euro Awaits ECB Speech & Dollar Struggles for Recovery
GBP Sterling has faced notable volatility over recent weeks, primarily due to the Bank of England’s decision to maintain interest rates at 5.25% for the sixth consecutive time on May 9th. This decision initially triggered a sharp sell-off, causing GBP/EUR to dip to around 1.1605 and GBP/USD to fall to approximately 1.2450. However, both currency…
Read MoreGeopolitical Tensions Drive Investors to USD
GBP Sterling took a hit, sliding to its lowest point against the Dollar since November, now hovering just above the 1.24 mark, all down to Dollar strength, mainly due to tensions in the Middle East boosting the Dollar’s safe-haven appeal. Sterling is trading better against the Euro, trading around 1.1710, with the Euro weakness mainly…
Read MoreSterling Faces Evaluation, Eurozone Calm, Dollar Eyes Data
GBP Sterling’s upward trajectory will encounter a critical evaluation this week as the UK prepares to unveil its latest job market data. Of particular significance will be wage growth metrics, now deemed pivotal indicators for the Bank of England alongside service sector inflation. Additionally, this week brings noteworthy releases such as January’s GDP and February’s…
Read MoreGBP Shows Strength, EUR Awaits ECB Decision & USD Faces Downward Pressure
GBP The UK economic landscape displays signs of improvement, with February’s PMI figures surpassing expectations. Despite this positive trend, inflation in the UK remains the highest among G-7 nations, prompting the Bank of England to maintain interest rates in restrictive territory for an extended period. Amidst this backdrop, the Pound has advanced against both the…
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