The BoE to deliver its second emergency policy move in as many weeks, cutting interest rates to a fresh record low of 0.1%.

policymakers voted unanimously to slash interest rates from 0.75% to 0.25% to defend against the impact of the coronavirus.

[vc_row][vc_column][vc_column_text]Currency markets were rocked last week after a number of central bank’s moved to cut interest rates, as the economic impact of the coronavirus threatens to plunge parts of the world into a recession. Amidst an extremely chaotic start to the week we have seen GBP/EUR trading close to a five-month low at €1.1436, while […]

Decrease in the odds of the Brexit transition period ending without a fresh UK-EU trade deal saw the pound fall sharply out of favour last week

[vc_row][vc_column][vc_column_text]The mood towards the pound improved after the UK’s manufacturing PMI delivered an unexpectedly positive reading for February. The European Central Bank’s (ECB) January meeting minutes offered encouragement to the euro, meanwhile, as their tone proved more optimistic than anticipated. A surprise contraction in the US services PMI saw the US dollar stumble ahead of […]

[vc_row][vc_column][vc_column_text]Signs of resilience from the UK services PMI failed to shore up the pound last week, with markets still concerned by the lack of clarity surrounding the UK’s future relationship with the EU. Sharp deteriorations in German and French industrial production put pressure on the euro, meanwhile, as confidence in the outlook of the Eurozone […]

A weaker-than-expected UK consumer price index added to the odds of an imminent Bank of England (BoE) interest rate cut this week

[vc_row][vc_column][vc_column_text]Increasing evidence of a fourth quarter UK economic slowdown left the pound under pressure, pushing it away from its New Year’s highs. Although December’s finalised services PMI saw a positive revision from 49.3 to 50.0 this failed to paint an encouraging picture of the economic outlook. With the service sector ending 2019 in a state […]

UK election results. While markets anticipated a Conservative win this did not stop GBP exchange rates from rallying sharply.

As opinion polls continued to point towards a Conservative lead ahead of the upcoming election the pound stormed higher after Strong Conservative polling