On Thursday, the British pound bulls still have the six-month highs reached in December against the US dollar firmly in their sights, but a London morning with nothing in the way of domestic economic data may be dampening their desire to attempt it again soon. The idea that interest rates in the UK still […]
On Friday, the British pound (GBP) strengthened against the US dollar (USD) as a result of more moderate inflation figures from the world’s largest economy and some unexpected domestic growth. In December, US price increases slowed for a sixth consecutive month, according to official statistics released on Thursday. Since the majority of interest rate increases […]
With the European Central Bank (ECB) resuming operations yesterday, the euro (EUR) extended its gains against the British pound (GBP) from yesterday. One of the more outspoken officials, Isabel Schnabel, bolstered the hawkish narrative, while the ECB’s Villeroy stated that future interest rate increases are required for his remarks today. Money markets are currently pricing […]
Better-than-expected home prices originally caused the British pound to react favorably, but markets rapidly turned against the currency as investors realized that the UK housing industry is slowing down both YoY and MoM. Due to reduced demand from the UK public, higher interest rates have unavoidably been pulling down property prices. The pound’s gains in […]
The British pound (GBP) is expected to conclude the week under significant pressure against the US dollar (USD) after weak economic statistics on Friday stoked concerns about a possible national economic recession. Base rates reached peaks not seen since 2008 (3.5%) on Thursday as a result of the Bank of England’s (BoE) 0.5% percentage point […]
The British pound (GBP) dropped against the US dollar (USD) and the euro (EUR) on Thursday after the Royal Institution of Chartered Surveyors reported that Britain had the largest house price declines since the beginning of the COVID-19 pandemic in November. According to the survey, sales and demand from consumers both declined as a result […]
The early burst of investor excitement over the potential loosening of COVID restrictions in China has dissipated, and the pound (GBP) fell on Monday even though sterling was still within striking distance of five-month highs versus the dollar (USD). After China prepared to announce yet another batch of steps to loosen limits on activity, which […]
Monday saw a decline in the pound (GBP) versus a rising dollar (USD) as mounting COVID-19 cases in China, the world’s second-largest economy, prompted further restrictions. As China deals with rising COVID cases, the risk-sensitive sterling was down 0.6% at 1.1816 and on pace for its biggest daily loss versus the US dollar in two […]
In anticipation of the 2018 budget from Finance Minister Jeremy Hunt, which includes “tough but essential” measures to curb inflation, the pound (GBP) depreciated against the dollar on Thursday. Hunt, who replaced Kwasi Kwarteng as chancellor under former UK Prime Minister Liz Truss, intends to close a gap in the British budget of 55 billion […]
