Pound Halts Advance Before BOE, Jobs Data

The pound ended a six-day gain versus the euro before the Bank of England releases minutes of its June meeting when policy makers voted to keep interest rates at a record low. Sterling halted a three-day advance versus the dollar before a report economists said will show the U.K. unemployment rate stayed at the least … Continue reading →

Sterling Has A Wobble

The pound was lower against the dollar for the sixth straight session on Friday as a combination of concerns over a possible British exit from the European Union and soft economic data weighed. GBP/USD hit lows of 1.5237 the weakest since the 8th May. Sterling ended the week down 1.2%. The pound has come under pressure … Continue reading →

Euro Holds Biggest Monthly Gain Since 2010

The pound is closing out the week on the back foot as we saw over 1.5% lost against a rallying euro and cable slide by over two cents. The GBP/USD pair fell to an intraday low of 1.5302 after data in the US showed the weekly initial jobless claims fell to a 15-year low. A minor technical … Continue reading →

Sterling continues to gain, hits eight week high

Despite the weaker-than-expected U.K. Gross Domestic Product (GDP) report, GBP/USD continues to carve higher highs & lows as the bullish RSI momentum gathers pace. The pound dipped firstly against the dollar yesterday after data showed that U.K. economic growth slowed more sharply than expected in the first three months of the year. However, the pair … Continue reading →

Sterling hovers near 7 week highs.

Sterling hit a seven-week high against the dollar yesterday, as some of the pessimism from uncertainty over next week’s UK parliamentary election waned with the focus on first quarter growth data due out the next day. Growth is forecast to have moderated in the first quarter, slowing to 0.5 percent from 0.6 percent, while for the year … Continue reading →

Weak US Data Bolsters Sterling.

The pound rallied to five-week highs against the broadly weaker dollar on Friday, as a weak U.S. economic report underlined concerns that the recovery is cooling, dampening expectations for higher interest rates. GBP/USD was up 0.88% to 1.5189 in late trade, the most since 6th March, bringing the week’s gains to 1.5%. Sterling shrugged off uncertainty … Continue reading →

Dollar Lower After Weak Data.

The pound closed in New York last night at 1.5057 against the dollar, after the rate had been pushed higher, extending its recovery after UK retail sales data and the general dollar sell off. The Office for National Statistics earlier said that U.K. retail sales fell 0.5% last month, compared to expectations for a 0.4% rise. … Continue reading →

Markets brace for Athens default.

Sterling rose against the euro yesterday, helped by UK house-price data and growing concerns about the risk of  Greece exiting the euro zone. The euro was weak across the board with Athens stuck in negotiations with its euro zone partners and the International Monetary Fund over reforms required by its lenders to unlock remaining bailout funds … Continue reading →

Sterling volatility versus the dollar jumped to the highest level since 2010 as traders priced in the uncertainty of an election that looks set to produce no clear winner. The pound fell against the U.S. currency as the Bank of England kept interest rates at a record-low 0.5 percent. Meanwhile, minutes of the latest Federal … Continue reading →

Dollar firms on Fed minutes.

The survey of British banks showed that demand for mortgages had slowed in the first three months of 2015, compared to the same period in the previous year, but that banks expected demand to pick up in Q2. It is the latest sign that the UK’s housing market could gather some speed in 2015. However, UK … Continue reading →