A better-than-expected UK gross domestic product report helped keep the pound on a positive footing as fears for a potential UK recession eased.

[vc_row][vc_column][vc_column_text]The pound had a rocky ride last week as the Queen accepted government’s request to suspend Parliament. The US dollar, meanwhile, fluctuated in response to US-China trade developments, and the euro was pressured lower by disappointing inflation data. Markets are bracing for volatility this week as Parliament reconvenes for four days on Tuesday. The pound […]

[vc_row][vc_column][vc_column_text]The pound traded in a wide range last week as growing fears of a no-deal Brexit saw the UK currency collapse. GBP later clawed back some of its losses thanks to some upbeat data, but Sterling is back on the defensive at start of this week, with GBP/EUR dipping to €1.1107 and GBP/USD sliding to […]

Stability Report encouraged the pound to recover some of its lost ground ahead of the weekend, in spite of lingering Brexit-based uncertainty.

[vc_row][vc_column][vc_column_text]The pound put on a poor performance last week, with investors focused on Boris and Brexit. However, it wasn’t plain sailing for the euro or US dollar either as both currencies came up against their own headwinds. The pound hit new multi-month lows against the euro and US dollar last week as political uncertainty and […]

[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 continued to struggle last week as heightened political uncertainty in the UK capped demand for GBP. Sterling continues to trade in a narrow range at the start of this week as well, with GBP/EUR muted at €1.1225, while GBP/USD is flat at US$1.2591. Looking to the week ahead, the session looks to be […]

[vc_row][vc_column][vc_column_text]The appeal of the pound weakened in response to April’s UK gross domestic product report, with growth found to have contracted -0.4% on the month. As companies moved to protect themselves from a potential no-deal Brexit in April this naturally limited production growth and business investment, leading the economy to its worst monthly performance in […]

[vc_row][vc_column][vc_column_text]An unexpected contraction in the UK manufacturing PMI put fresh pressure on the pound with signs increasingly pointing towards the economy losing momentum in the second quarter. Worries over the outlook of the Eurozone economy also limited the appeal of the euro, with the Italian government voicing its dissatisfaction with EU budget rules once again. […]

[vc_row][vc_column][vc_column_text] The collapse of cross-party Brexit discussions left the pound on a weaker footing, with political uncertainty looking set to dominate the domestic outlook in the months ahead.   Although the first quarter German and Eurozone gross domestic product data showed an improvement on the previous quarter this was not enough to shore up the […]