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Pound Steady as Markets Brace for Brexit

Sterling

GBP/USD 1 Week Chart
The Pound stabilised against the majority of its peers yesterday as markets begin to limit movements ahead of the start of Brexit next week. Investors remain dovish in advance of Theresa May triggering Article 50 on Wednesday as the following two years of negotiations will create a great deal of market uncertainty. However Sterling was able to strike higher this morning following the release of the UK’s latest retail figures for February, which clocked in at 3.7% on the year instead of 2.6% as forecast. View article >

GBP up on EUR, USD, AUD as UK Inflation Rises

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rallied against its peers on Tuesday as markets reacted favourably to the UK’s latest inflation figures. Data released by the ONS showed that the inflation rate leapt from 1.8% to 2.3% in February, outpacing forecasts it would rise to 2.1% and striking its highest levels since September 2013. The jump prompted speculation that the Bank of England (BoE) will be forced to raise interest rates to prevent inflation from rising further. View article >

Pound Softens as Brexit Date Announced

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) tumbled against the other majors yesterday as Prime Minister Theresa May announced that she would trigger Article 50 next Wednesday. The slump suggests that Brexit has not been completely priced into Sterling, with markets still having concerns over the uncertainty that Britain’s split from the EU will bring. However the Pound could mount a recovery later this morning as economists expect February’s CPI figures to surge, with the UK’s inflation rate forecast to jump from 1.8% to 2.1%. View article >

Pound’s Early Losses Reversed by Rate Hike Speculation

Sterling

GBP/USD 1 Week Chart
An early morning slump in the Pound (GBP) was reversed this morning as markets began to speculate on the possibility of the Bank of England raising interest rates earlier than expected. The dissent of policymaker Kristin Forbes in last week’s policy meeting and expectations that inflation will continue surging this month has prompted economists to forecast that the BoE may hike rates later this year. View article >

Pound Rallies after Lone BoE Vote for Rate Hike

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) received an unexpected boost yesterday as a Bank of England (BoE) policymaker broke ranks and voted to raise interest rates in the March meeting. While the monetary policy committee (MPC) ultimately voted 8-1 to leave interest rates unchanged at a record low of 0.25%, the dissent from Kristin Forbes was enough to send markets crazy as she argued that the rapid rise in inflation and strong employment stats were indications that the BoE should be looking to tighten monetary policy. View article >

Pound Tumbles Ahead of BoE Rate Decision

Sterling

The Pound (GBP) softened this morning against the majority of its peers as markets await the results of the Bank of England’s (BoE) latest policy meeting. Despite a report from The Times suggesting that the Bank may begin discussing the possibility of a rate hike following the uptick in inflation, most economists forecast that the BoE will announce that interest rates will be kept at record lows today. View article >

Pound Rallies on Rate Hike Speculation

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rallied from multi-week lows against the other majors this morning following a report from the Times that the Bank of England (BoE) may consider raising interest rates soon. Analysts for the newspaper believe that the Bank should begin planning a rate hike to 0.5% in reaction to the accelerated rate of inflation. However Sterling is likely to cede some of this morning’s gains later in the day as economists predict that the latest employment data will report a fall in Average Earnings at the start of the year. View article >

Pound Plummets as Parliament Backs Brexit Vote

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) plummeted against the rest of the majors this morning as markets were spooked by parliament’s decision to pass the government’s Brexit bill without amendments. Investors had hoped that MPs would back alterations made by the House of Lords that would ensure parliament had the final say on the terms of leaving the EU, however the lower house voted overwhelming to pass the bill without these changes. View article >

Uptick in Pound as Week’s Session Begins

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) rallied against the majority of its peers this morning, reversing some of the damaged done to the currency during last week’s session. Reports suggest that Prime Minister Theresa May will finally trigger Article 50 this week, likely causing Sterling to tumble as markets fear the uncertainty that two years of negotiations will bring. View article >

Pound Rises Against Commodity-Correlated Currencies

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) recorded some gains against its high-yield peers on Thursday amid a downturn in commodity prices, however it continued to struggle against the other majors. Persistent Brexit jitters have taken a considerable toll on Sterling sentiment over the past week as markets brace for Theresa May to trigger Article 50 later in the month. View article >
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