by Charles Purdy | Jun 27, 2022
After rising against the euro and the dollar on Friday morning, the pound then weakened towards the end of the day following soft retail sales data. UK retail sales came in at -4.7% year-on-year in May, which was worse than the expected reading of -4.5%. This was...
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by Charles Purdy | Jun 27, 2022
The pound strengthened on Friday morning, before falling towards the end of the day. This morning, it’s trading in narrow ranges against the euro and has strengthened against the dollar. There will be a series of speeches this week from Bank of England, European...
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by Charles Purdy | Jun 24, 2022
The dollar remains stronger this morning after the second day of Federal Reserve Chair, Jerome Powell’s, testimony in front of the Senate. After suggesting a recession was “certainly a possibility” on Wednesday, he added that the Fed understands “the hardship high...
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by Charles Purdy | Jun 24, 2022
The euro has weakened against the pound and the dollar, primarily due to greenback strength and disappointing eurozone data. Poor PMI data for France, Germany and the eurozone as a whole caused the single currency to suffer yesterday. The latest German Ifo business...
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by Charles Purdy | Jun 24, 2022
The pound is slightly stronger against the euro and steady against the dollar this morning, however, soft retail sales data and political jitters have restricted further gains. While retail sales did fall in May, it was by less than expected at -0.5% compared to...
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