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Sterling has had a relatively positive week, helped by UK inflation rising from 2.6% to 2.9%. Although unemployment remained elevated at 4.9%, the higher inflation figure reinforces expectations that the Bank of England will remain cautious about cutting interest rates. This has provided some support for the Pound, although GBPEUR has remai...
THE WEEK SO FAR
Sterling has enjoyed a positive week, approaching recent highs against both the Euro and US Dollar. Expectations that UK interest rates will remain relatively high continue to support the Pound, while uncertainty over future US rate decisions has weighed on the Dollar.
EUR/GBP remains under...
Last week saw Sterling hold firm against the Euro and it will be hoping for more of the same this week. The Pound had been supported by better than expected economic data, which showed growth in the economy, and as a result the Pound clawed back some ground on the Euro.
At the back end of the week Sterling slowed in momentum, wi...
Sterling has had a reasonably strong week overall, particularly against the Euro. The Pound benefited from signs that the UK economy is holding up better than expected, with the latest growth figures showing continued expansion. However, Sterling has lost some of its momentum towards the end of the week and the Euro has started to recover ...
THE WEEK SO FAR
With little to no important data releases in the EEA this week so far, the currency changes came from sources elsewhere. The UK 10-year gilt yield fell to around 4.95% after earlier climbing above 5%, as renewed hopes for a deal to reopen the Strait of Hormuz pushed oil prices lower, eas...