US dollar rebounds from two-week low amid growth concerns The pound fluctuated through last week’s session, experiencing volatility in response to the latest Brexit developments and some mixed data. At the same time, after initially tumbling to a fresh two-year low, the US dollar mounted a convincing recovery as jitters over global growth buoyed the [...] Read more about: "Pound rocked by Brexit woes"
Sterling was pressured lower after Chancellor Rishi Sunak signalled that there wouldn’t be an extension to the government’s furlough scheme.
Read more about: "Pound could stumble after growth data"
Meanwhile, the euro surged on optimism of the EU’s recovery fund and benefited from weakness in the US dollar to hit a 20-month high.
Read more about: "euro continues to 20 month high"
The pound extended its recovery into a second week last week, with the announcement of a new stimulus package aimed at protecting jobs helping to buoy Sterling sentiment. At the same time, the euro faced a setback last week, as the European Commission slashed its growth forecast for the Eurozone and warned there are 'exceptionally [...] Read more about: "Pound rallies on new stimulus package"
The pound struck higher through last week's session, rallying from a three-month low against the euro in response to an improving market mood and a correction in currency markets at the end of the second quarter. At the same time, the US dollar was placed on the back foot last week as hopes for the [...] Read more about: "Pound rallies from three-month low"
The pound trended lower against the majority of its peers again last week as a combination of Brexit uncertainty and concerns over a second wave of coronavirus infections weighed on Sterling sentiment. At the same time, the US dollar bounced back from some initial losses as coronavirus jitters and the threat of transatlantic trade tensions [...] Read more about: "Pound sinks on Brexit uncertainty and second wave fears"
pound nosedives after some heavy selling pressure through last week, with demand for the UK currency collapsing after Bank of England’s latest stimulus
Read more about: "Pound nosedives following BoE stimulus announcement"
Improvement in the UK’s May PMIs was not enough to offer the pound any significant boost – speculation over the Bank of England’s policy outlook.
Read more about: "Bank of England keeps negative interest rates on the table"
Confirmation that the UK economy experienced a significant contraction in the first quarter left the pound on a weaker footing last week. While a downward revision to the fourth quarter German gross domestic product pushed the Eurozone’s powerhouse economy into a state of recession, this failed to weigh on the euro. Meanwhile support for the [...] Read more about: "UK economy contraction"
Support for the pound weakened in response to the uk manufacturing trends, pointing towards a sharp loss of economic momentum.
Read more about: "Pound under pressure from lower manufacturing trends"
