by Christopher Nye | Feb 6, 2023
Sterling begins the week weaker than both the euro and US dollar compared to this time 7 days ago. Overall, GBP/EUR is at a two-year low for the first time since its long vaccine-related boost in 2021. Against the dollar, the pound sits close to its weakest level...
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by Charles Purdy | Feb 6, 2023
The worries that many analysts had about sterling in 2023 appear to be manifesting themselves. The Prime Minister’s 100th day in office coincided with a sharp sell off in sterling, although that was more to do with central banks’ actions and the surprising...
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by Charles Purdy | Feb 3, 2023
A mixed week reaches its final day with the dollar flying high against the pound and most commodity backed currencies (NOK, AUD etc) but falling behind other ‘safe haven’ currencies like JPY and CHF. The Fed was the odd bank out this week, raising headline rates by...
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by Charles Purdy | Feb 3, 2023
The euro ends the week almost 2% up on sterling and ending just a little ahead of the US dollar in a week where the ECB raised its headline interest rate to 3% and indicated that it would rise again to 3.5% next month. Germany’s trade surplus was revealed to have...
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by Charles Purdy | Feb 3, 2023
It’s been a torrid week for sterling, losing across the board by between 1 and 2.5% against major rivals. The news has been almost universally bad. The Bank of England’s deputy governor commented that Brexit was damaging the UK economy as expected but more quickly...
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