Pound — News Archive

Positive Economic Data Does Not Support Sterling

Macroeconomic data from Great Britain was positive today, but this did not help the pound. The currency was flat against some of its major counterparts, including the euro and the Japanese yen, and dropped versus the US dollar.

UK Retail Sales Disappoint FX Market, GBP Retains Weakness

The Great Britain pound retained its weakness against the US dollar today, following yesterday’s losses and touching the lowest level in a month. Against the Japanese yen, the sterling continued to trade sideways.

BOE Minutes Weigh on UK Pound

UK pound is down pretty much across the board today, thanks in large part to the release of the minutes from the latest Bank of England meeting. It looks as though loose monetary policy is going to continue for a little while longer, and that is keeping the sterling down against its major counterparts.

Britain’s Sterling Shows Resilience Despite Negative Data

The Great Britain pound showed resilience despite negative domestic data. The currency held steady today after a small drop against the US dollar and the euro yesterday. The sterling even managed to rise against the Japanese yen.

Attempted Euro Rally Fizzles

Euro attempted a rally against the US dollar earlier, taking advantage of the frustration many Forex traders have with US yields right now. However, that rally has fizzled out as the focus shifts to safe haven flows. Euro is lower against its low-beta counterparts, even as it gains against currencies like the pound and the loonie.

UK Pound Pauses After Gains Earlier This Week

UK pound is pausing today, looking for consolidation at the end of this week after solid gains driven by encouraging economic data. More strength is expected for the sterling going forward, especially against the euro, thanks to the improving economic picture. So while the pound is lower today, it is likely to strengthen in coming weeks.

EUR/GBP Little Changed After Reaching Lowest Since 2012

The Great Britain pound was little changed today after reaching the highest level since August 2012 against the euro yesterday. The sterling was flat against the US dollar and retreated a bit versus the Japanese yen.

US Dollar Index Gains Mostly Due to Policy Divergence

US dollar index is heading higher today, gaining ground as policy divergence becomes more of an issue, especially with the euro. Since the euro is the currency with the heaviest weight in the dollar index basket of currencies, it’s no surprise that the index is doing well.

Fading Growth Momentum Makes Britain’s Currency Less Appealing

The Great Britain pound slid against most of its major peers today as Forex market participants are becoming increasingly concerned that growth momentum of the UK economy is waning, making the sterling less attractive as an investment vehicle.

US Dollar Retains Upper Hand Against European Counterparts

US dollar is retaining its upper hand against counterparts today as the good news about initial jobless claims offers speculation that an improving jobs situation could lead to an interest rate hike. Even though the latest Fed minutes don’t support the idea of rate hikes anytime soon, there are still many who hope for better outcomes for the greenback.

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