The British pound has embarked on a positive trajectory and is poised to achieve its most substantial one-day gain in almost two weeks. This surge comes on the back of impressive core inflation data for July. Core inflation in the UK, excluding the volatile elements of energy and food prices, has remained impressively steady, maintaining […]
In an unexpected twist of events, the British pound encountered a minor stumble on Tuesday, holding its ground above recent one-month lows. This follows the release of a thought-provoking survey shedding light on subdued sales growth for British retailers over the past 11 months. This downturn in fortunes has been attributed to a combination of […]
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 […]
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 […]
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 […]
Investor attention was on US inflation data and the midterm elections on Tuesday, which caused the British pound (GBP) to decline while the dollar (USD) soared. That said, the October consumer price index (CPI) will be released on November 10 and will likely shake the market. Investors from around the world will closely examine it […]
As Britain’s new Prime Minister, Rishi Sunak, convened his first cabinet meeting on Wednesday amid rumors that he could postpone the release of a plan to fix the nation’s public finances, the pound rose to six-week highs. Sunak came into office on Tuesday, promising to correct his predecessor’s errors and restore economic stability while warning […]
Following news of a potential U-turn by the UK government on its budgetary policies, the Sterling (GBP) jumped to a one-week high until robust US inflation data tempered some of those gains. that said, the pound maintained a steady bias despite raging market dynamics on Thursday. After Sky News reported that the British government is […]
The British pound (GBP) plugged its losing streak against the dollar (USD) on Tuesday after the latest Purchasing Managers’ index (PMI) data showed that business activities in the UK slowed as expected by economists. According to a poll of economists, the forecast for the UK PMI was to fall 51.1. The composite estimates dropped from […]
