It is a different story for the euro this week which has lost weekly gains of around 0.95% against the pound. On a monthly comparison though, the single currency has strengthened against sterling by around 0.03%.
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On Friday, sterling strengthened against the US dollar by approximately 0.22% on a weekly comparison and 1.24% against the euro. This morning GBP/EUR maintains those gains entering the week stronger.
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Sterling shrugged off GDP data released on Friday which revealed Britain is not technically in a recession. The quarter-on-quarter figures stalled (at 0%) confirming that Britain just missed a recession.
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Sterling is approaching the mid-point of February very close to where it started the month against the euro but having gained a good 1% over the course of last week. While the news reports have focused on Friday’s…
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The US dollar has continued to bask in the glow of last Friday’s outstanding non-farm payrolls data, albeit with the shine slightly taken off yesterday by the number of unemployment claims rising for the first time in six…
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The single currency enjoyed a positive day overall, apart from against sterling where it saw a modest decline over the course of the day, despite a positive afternoon session.
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Sterling’s recovery this week came to a halt at around the time that the most dovish member of the Bank of England’s nine interest rate setters, Silvana Tenreyo, was telling parliament that interest rates are already too high.
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Sterling’s recovery from its post-interest-rate-decision drop lasted until yesterday afternoon, when comments from Bank of England monetary policymakers set it back. However, not before it had regained much of what had been lost since the start of the…
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