by Julian Benson | Aug 22, 2024
Recent data from the UK, including inflation and employment data supported the Bank of England’s argument to keep interest rates on hold at 5.0% in its upcoming September meeting. This morning’s PMI data will be instrumental for the pound. GBP/USD: the past year...
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by Julian Benson | Aug 22, 2024
The pound soared to a one-year high against the US dollar yesterday after data showed the US labour market was weaker than initially expected. The pound is currently 2.5% higher than this time last year. Against the euro, the pound added 0.25% on Wednesday despite a...
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by Jonathan Cook | Aug 21, 2024
The US dollar has recorded three days of losses against a basket of rival currencies on the trot. As the US awaits comments from the Fed, the broader market pivot to a risk on tone has seen the US dollar struggle to pare back the losses it has suffered. EUR/USD: the...
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by Jonathan Cook | Aug 21, 2024
The ECB was the first major central bank to the monetary loosening party. If market predictions are anything to go by (and we’d be the first to cast doubt on this), then the euro should brace for the impact of another 0.25% cut to borrowing costs. GBP/EUR: the past...
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by Jonathan Cook | Aug 21, 2024
GBP/USD continued to climb on Tuesday and analysts at Scotiabank expect that to continue. According to them, technical factors and the absence of major economic data mean that the pound could climb even further in the coming days, although as ever, that’s far from a...
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