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Pound Exchange Rate Climbs Higher on BoE Hawkishness

24 February 2018 In: Finance, Economy, General

The pound began Friday’s European trading climbing higher against other currency majors including the euro (GBP/EUR) and Australian dollar (GBP/AUD). The GBP/EUR exchange rate has managed to attain highs of 1.1378 (around +0.52% higher) so far in Friday’s session, as hawkish remarks from the Bank of England (BoE) regarding monetary policy have bolstered sterling. Bloomberg reports that the market-implied probability of the central bank increasing interest rates in the May monetary policy meeting has risen…

BoE Comments, UK GDP and Labour Data, FOMC and RBA Meeting Minutes Ahead

19 February 2018 In: Finance, Economy, General

GBP – UK retail sales disappoint Last week – The pound dipped mid-week when the International Monetary Fund (IMF) said that the UK needed to up its production. The IMF said: ‘Directors agreed that structural reforms should prioritise enhancing productivity, inclusiveness, and external competitiveness.’ – On Thursday, the GBP/USD exchange rate breached the 1.40 barrier yet again as US dollar weakness continued following inflation data being published Stateside. – Sterling slipped on Friday when UK…

GBP/EUR, GBP/USD, GBP/AUD Exchange Rates Climb on Brexit News and US Inflation

16 February 2018 In: Finance, Economy, General

The pound and euro both began Thursday’s European session making gains against the US dollar (GBP/USD, EUR/USD) after US consumer prices failed to edge lower. US inflation came in at 2.1% instead of the 1.9% forecast, creating concerns in the market that the US Federal Reserve might begin aggressively hiking interest rates. The pound was able to breach the 1.40 barrier yet again, while the euro breached the 1.25 level. The pound was also in…

Will Trump’s Infrastructure Plans Boost the USD? UK Inflation and Australian Labour Data Ahead

13 February 2018 In: Finance, Economy, General

GBP – Sterling snaps back from BoE gains Last week – The pound spiked last week after the Bank of England (BoE) hinted that UK interest rate hikes might happen sooner than markets expect. The central bank revised its growth forecasts higher and suggested inflation will remain above target. The pound briefly jumped above 1.40 barrier against the US dollar (GBP/USD) on the comments, while climbing by over 1.0% against other currencies such as the…

GBP/EUR, GBP/AUD Exchange Rates in Tight Range Ahead of BoE Interest Rate Decision

08 February 2018 In: Finance, Economy, General

The pound has softened in recent sessions as Brexit continues to weigh and market volatility heightens. Additionally, sterling is softer ahead of the Bank of England’s (BoE) interest rate decision. It’s possible a few policymakers will vote to increase interest rates; Michael Saunders and Ian McCafferty are historically the most hawkish members of the Monetary Policy Committee (MPC). Many investors are expecting the central bank to revise rates higher to 0.75% at some point in…

BoE, RBNZ, and RBA Interest Rate Decisions Ahead

05 February 2018 In: General

GBP – How will the UK service sector hold up? Last week – Last week wasn’t optimistic in terms of UK economic data. Mortgage approvals slipped in December, coming in at 61.0K, Markit’s January manufacturing purchasing managers’ index (PMI) fell to 55.3 from 56.2 instead of climbing as forecast, and Markit’s construction PMI also declined to 50.2 from 52.2, residing barely above the 50.0 benchmark which separates expansion from contraction. – Bank of England (BoE)…

GBP/EUR Remains Higher, GBP/AUD Jumps, UK Manufacturing Disappoints

01 February 2018 In: Finance, Economy, General

The pound continued to bounce back early in Thursday’s European trading, residing around 0.30% higher against the euro in the region of 1.1470. However, as the session continued and economic data hit the market, the pound eased back slightly. British economic data showed the UK’s manufacturing sector had slipped in January, with Markit’s latest index coming in at 55.3, after December’s 56.3 (which has been revised lower to 56.2). Growth in the sector slowed to…

EUR/USD Strengthens after ECB Meeting, GBP/EUR, AUD/USD Climb

26 January 2018 In: Finance, Economy, General

The pound to euro (GBP/EUR) exchange rate continued to register gains on Thursday, despite a surge in the euro against other currency majors following comments from European Central Bank (ECB) Chief Mario Draghi. The euro was able to extend its three-year high and break above the 1.25 mark against the US dollar (EUR/USD) as the ECB President was upbeat about the currency bloc’s recovery. The US dollar has fallen further this week after US Treasury…

GBP/USD Breaches $1.39 on Brexit Optimism as US Government Shuts Down

22 January 2018 In: Finance, Economy, General

GBP – Brexit optimism boosts sterling Last week – Last week UK inflation softened from 3.1% to 3.0% in December’s reading showing the squeeze in UK households was lessening. – The close of last week saw the pound fall against major currencies such as the US dollar as UK retail sales numbers disappointed markets. In December, UK retail sales fell from 1.5% to 1.4% despite forecasts to rise. – Throughout the week rumours of a…

GBP/AUD, GBP/EUR Exchange Rates Lower on UK Retail Sales, Australian Unemployment Rises

19 January 2018 In: Finance, Economy, General

The pound exchange rate softened against the euro (GBP/EUR) and Australian dollar (GBP/AUD) on Friday after UK retail sales fell short of predictions. Markets had expected to see a rise from 1.5% to 2.6% on the year, but actually, the reading slumped to 1.4%. The month of December showed a -1.5% contraction, rather than the -0.6% drop economists had forecast. The fall in retail sales in December has been accredited partly to the previous month’s…

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