Weaker-than-expected monthly UK GDP reading left the pound on a weaker footing against its rivals. ECB looks set to enact fresh monetary loosening measures

The pound strengthened as coronavirus vaccine hopes, Brexit optimism and fading chances of negative interest rates boosted Sterling.

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 [...]

Sterling was pressured lower after Chancellor Rishi Sunak signalled that there wouldn’t be an extension to the government’s furlough scheme.

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.

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 [...]

pound nosedives after some heavy selling pressure through last week, with demand for the UK currency collapsing after Bank of England’s latest stimulus

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 [...]

A smaller than expected decline from the British Retail Consortium for retail sales figure was not enough to keep the pound from edging lower

The rising number of coronavirus infections and deaths in the UK, coupled with a concerning slump in service sector output, put the pound under pressure towards the end of last week. Political squabbles within the Eurozone put a dampener on the euro, meanwhile, as Germany dug in its heels over a proposed shared debt scheme [...]