Sterling recorded gains against its rival currencies on Tuesday as markets ramped up bets that stubborn inflation would force the Bank of England to be slower to cut interest rates.
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The euro made modest advances on both sterling and the US dollar in yesterday’s session.
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Sterling fell back slightly against its major rivals yesterday as markets braced for Wednesday's inflation numbers.
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USD/GBP and EUR/GBP gained by around 0.3% and 0.4% respectively yesterday ahead of Wednesday’s UK inflation release. Sterling had enjoyed a strong end to last week after the Bank of England (BoE) suggested they shaded more hawkish on…
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USD/GBP was boosted by around a third of a per cent yesterday, with the US dollar losing a touch of ground to the euro.
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Much of the world may be winding down for Christmas, but for the business world and economic data this is a busy week. For the UK, the week will be dominated by the inflation reading on Wednesday morning…
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The pound soared to a four-month high against the US dollar on Friday following the Bank of England’s decision to keep interest rates on hold. The GBP/USD rate dropped slightly at the end of Friday’s session but remains…
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The US dollar was on the back foot last week following the Federal Reserve’s decision to keep US interest rates unchanged at 5.25%-5.5%. The US dollar is currently 1.22% and 1.49% lower against the pound and euro, respectively,…
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