The outlook of several major central banks turned more dovish last week, with the odds of the Bank of England (BoE) raising interest rates before the end of the year deteriorating. Comments from European Central Bank (ECB) President Mario Draghi also saw the euro come under pressure, as the prospect of an interest rate cut [...]

The pound continued to struggle last week as heightened political uncertainty in the UK capped demand for GBP. Sterling continues to trade in a narrow range at the start of this week as well, with GBP/EUR muted at €1.1225, while GBP/USD is flat at US$1.2591. Looking to the week ahead, the session looks to be [...]

The appeal of the pound weakened in response to April’s UK gross domestic product report, with growth found to have contracted -0.4% on the month. As companies moved to protect themselves from a potential no-deal Brexit in April this naturally limited production growth and business investment, leading the economy to its worst monthly performance in [...]

An unexpected contraction in the UK manufacturing PMI put fresh pressure on the pound with signs increasingly pointing towards the economy losing momentum in the second quarter. Worries over the outlook of the Eurozone economy also limited the appeal of the euro, with the Italian government voicing its dissatisfaction with EU budget rules once again. [...]