[vc_row][vc_column][vc_column_text]In a fresh blow for the euro November’s Eurozone consumer price index slowed from 2.2% to 2.0%, falling back in line with the European Central Bank’s (ECB) inflation target. This easing in inflationary pressure gives ECB policymakers less incentive to consider raising interest rates from their current lows, keeping the central bank in a state […]

[vc_row][vc_column][vc_column_text] Pound under pressure as MPs push back against Brexit deal Pound exchange rates slumped sharply on Thursday last week after Brexit secretary Dominic Raab unexpectedly resigned in protest against at Theresa May’s proposed Brexit deal. This reversed the positive impact of the initial news that the UK and EU had finally reached an agreement, […]

[vc_row][vc_column][vc_column_text]Increased hopes for a Brexit deal encouraged the pound to push higher across the board last week, even though UK data demonstrated fresh signs of weakness. Solid US data continued to boost the case for the Federal Reserve to raise interest rates again before the end of the year, keeping the US dollar on a […]

[vc_row][vc_column][vc_column_text] Brexit was back in the spotlight last week, driving heavy losses in the pound as EU leaders rejected Theresa May’s Chequers proposals However the pound looks to be mounting a recovery at the start of this week’s session, with GBP/EUR climbing to €1.1176 and GBP/USD surging to US$1.3156. Looking ahead, the focus for investors […]

[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 […]

[vc_row][vc_column][vc_column_text]Comments from chief EU negotiator Michel Barnier prompted the pound to surge higher across the board last week, with investors betting on the odds of a softer form of Brexit. This relief proved short-lived, however, as Barnier later clarified that the EU’s red lines have not changed and that the prospect of a no-deal Brexit […]

[vc_row][vc_column][vc_column_text]Brexit worries picked up once again during the course of the last week, with the deadline for the conclusion of withdrawal treaty talks pushed back from October to November. In the wake of the bank holiday weekend the pound still looks a little sluggish, maintaining its downside bias against both the euro and US dollar. […]

[vc_row][vc_column][vc_column_text]Trade in the pound was mixed last week as renewed confidence of an August rate hike from the Bank of England was offset by a blurry outlook regarding Brexit. The mixed trade in Sterling looks set to continue at the start of this week as GBP/EUR slides to €1.1224, while GBP/USD edges up to US$1.3109. […]

[vc_row][vc_column][vc_column_text]Pound plunges as soft UK data drags on BoE rate expectations The pound was hit by considerable losses last week as a run of soft UK economic data drove the currency lower on fears it could prevent the Bank of England (BoE) from raising interest rates next month. Meanwhile the start of this week looks […]

It was another week of volatility for many currencies last week, with the market continuing to be dominated by an escalation in global trade tensions.