Market Update
- Posted by currencies in Brexit, coronavirus, Currency, UK, Uncategorised
- May 26, 2020
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The pound rose against overnight and continued to gain in early London trading, after Prime Minister Boris Johnson set out plans to reopen thousands of high street shops, department stores and shopping centres next month. Johnson said at a news conference on Monday that outdoor markets and car showrooms could reopen from June 1 and […]
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Market Update
- Posted by currencies in Brexit, coronavirus, Currency, Retail Sales, UK, Uncategorised
- May 22, 2020
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Sterling edged lower against both the U.S. dollar and the euro as fresh data showed retail sales fell by a record 18% as the coronavirus crisis hammered the economy and while U.S.- China tensions boosted demand for the dollar. British retail sales fell by the most on record in April due to the lockdown. In […]
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- Posted by currencies in Bank of England, coronavirus, UK, Uncategorised
- May 21, 2020
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Sterling edged up against the U.S. dollar but fell versus the euro as clouds lingered over the pound after UK inflation fell below 1% to its lowest in nearly four years. The drop in inflation fuelled speculation that the Bank of England (BoE) would cut interest rates below zero to bolster an economy hammered by […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Budget, coronavirus, Currency, Sterling, UK, Uncategorised
- May 20, 2020
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Britain’s inflation rate sank in April to its lowest since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing retailers cut prices, while power tariffs also slid. The consumer price index dropped to an annual rate of 0.8% in April from 1.5% in March, official data showed on Wednesday, broadly in […]
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Market Update
- Posted by currencies in coronavirus, Currency, UK, Uncategorised
- May 19, 2020
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The pound rose against both the dollar and the euro overnight before steadying, recovering somewhat from seven-week lows but not fully participating in a market-wide relief rally from improving risk appetite. Positive signs from a coronavirus antibody trial saw safe-haven currencies, such as the dollar, fall as markets rallied. However, downside risks continue to weigh […]
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Market Update
- Posted by currencies in Brexit, coronavirus, Currency, Sterling, UK, Uncategorised
- May 18, 2020
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Sterling hovered at near two-month lows against the dollar and the euro, as talk of negative interest rates from the Bank of England and a stalemate in Brexit negotiations kept the currency pinned within tight ranges. The pound has already fallen sharply this month, by 3.75% against the dollar. Britain and the EU’s chief negotiators […]
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Market Update
- Posted by currencies in coronavirus, Sterling, UK, Uncategorised
- May 15, 2020
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The U.S. dollar was set for a weekly gain and the Australian dollar for a 1% drop this week as the threat of a second wave of coronavirus infections rattled investors. As hopes faded for a quick global recovery from the pandemic, traders unloaded the trade-sensitive Aussie and moved into safer assets such as the […]
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Market Update
- Posted by currencies in coronavirus, UK, Uncategorised
- May 14, 2020
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Sterling fell below $1.22 in early trading to its lowest level in more than five weeks as the combination of a stronger dollar and weak UK economic data hurt the British currency. The dollar rose against a basket of comparable currencies on Wednesday after Federal Reserve Chair Jerome Powell squashed growing speculation about negative interest […]
READ MOREBritain’s economy shrank by a record 5.8%
- Posted by currencies in Bank of England, Brexit, coronavirus, Currency, Economy, GBP, Rate Cuts, Sterling, UK, Uncategorised
- May 13, 2020
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Britain’s economy shrank by a record 5.8% in March from February as the coronavirus crisis escalated and the government ordered a shutdown of much of the country to stop the spread of the virus, official data showed this morning. In the first three months of the year, gross domestic product contracted by 2.0% from the […]
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Market Update
- Posted by currencies in coronavirus, UK, Uncategorised
- May 12, 2020
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The pound rose slightly against the dollar in early London trading but fell versus the euro as Britain waited for announcements about the furlough scheme and how the UK’s plans to ease lockdown measures will affect the workforce. At 1130 GMT, the government is expected to announce changes to its employee furlough programme, which is […]
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