The pound rose sharply across the board on Friday, driven by hopes for a Brexit breakthrough between UK and EU officials. As UK and EU officials agreed to hold intensive ‘tunnel’ negotiations over the weekend the mood towards the pound dramatically improved, buoyed by hopes that a Brexit breakthrough might finally be on the cards. [...] Read more about: "Intense Brexit talks lift pound to four-month highs"
An initially positive reaction to Boris Johnson’s Brexit proposal was not enough to keep the pound on an uptrend for long, with the Irish border issue still proving contentious. As EU officials showed little enthusiasm for Johnson’s ‘final offer’ a sense of Brexit-based anxiety soon started to drag on GBP exchange rates again. With French [...] Read more about: "Pound suffers as optimism over Johnson’s Brexit proposals"
The pound (GBP) failed to cling onto its monthly high as hopes for a potential Brexit extension dwindled. Although the European Central Bank (ECB) delivered a fresh volley of monetary loosening, the euro (EUR) soon bounced back from its initial decline. Support for the US dollar (USD) proved limited as the US economy offered mixed [...] Read more about: "ECB action fails to hold down euro"
A better-than-expected UK gross domestic product report helped keep the pound on a positive footing as fears for a potential UK recession eased.
Read more about: "Pound hits monthly highs as UK growth impresses"
The pound had a rocky ride last week as the Queen accepted government’s request to suspend Parliament. The US dollar, meanwhile, fluctuated in response to US-China trade developments, and the euro was pressured lower by disappointing inflation data. Markets are bracing for volatility this week as Parliament reconvenes for four days on Tuesday. The pound [...] Read more about: "Key Brexit week ahead"
The pound traded in a wide range last week as growing fears of a no-deal Brexit saw the UK currency collapse. GBP later clawed back some of its losses thanks to some upbeat data, but Sterling is back on the defensive at start of this week, with GBP/EUR dipping to €1.1107 and GBP/USD sliding to [...] Read more about: "Brexit and Boris"
Stability Report encouraged the pound to recover some of its lost ground ahead of the weekend, in spite of lingering Brexit-based uncertainty.
Read more about: "Brexit speculation continues to dominate pound outlook"
A trio of underwhelming UK PMIs prompted the pound to slump sharply last week as investors bet on the prospect of a second quarter growth contraction. Worries over the health of the Eurozone economy also picked up in the face of a sharp fall in German factory orders, leaving the euro under pressure. Friday’s stronger-than-expected [...] Read more about: "UK contraction drags on pound"
The pound put on a poor performance last week, with investors focused on Boris and Brexit. However, it wasn’t plain sailing for the euro or US dollar either as both currencies came up against their own headwinds. The pound hit new multi-month lows against the euro and US dollar last week as political uncertainty and [...] Read more about: "Pound hits multi-month lows, euro fluctuates"
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 [...] Read more about: "The central bank outlook weighs on pound, euro, US dollar"
