An unexpected deterioration from the UK services PMI left the pound on a weaker footing as worries over the fourth quarter growth outlook mounted.

[vc_row][vc_column][vc_column_text]The pound (GBP) failed to cling onto its monthly high as hopes for a potential Brexit extension dwindled. Although the European Central Bank (ECB) delivered a fresh volley of monetary loosening, the euro (EUR) soon bounced back from its initial decline. Support for the US dollar (USD) proved limited as the US economy offered mixed […]

[vc_row][vc_column][vc_column_text]The outlook of several major central banks turned more dovish last week, with the odds of the Bank of England (BoE) raising interest rates before the end of the year deteriorating. Comments from European Central Bank (ECB) President Mario Draghi also saw the euro come under pressure, as the prospect of an interest rate cut […]

[vc_row][vc_column][vc_column_text]The pound got a strong boost against its rivals when Bank of England (BoE) Governor Mark Carney confirmed that talks were ongoing with the Treasury regarding an extension of his term. Meanwhile some better-than-expected US growth data encouraged the US dollar to extend its bullish run as the impact of Trump’s trade policies remains to […]

Markets will be looking for economically-friendly policies from the Budget on Wednesday. The pound could fall if Hammond continues to cut spending