Wednesday, August 12, 2020

Tag "sterling"

    Dollar dips on dot-plot disappointment, BoE in focus

Dollar dips on dot-plot disappointment, BoE in focus

The federal reserve has lifted interest rates to their highest level since the financial crisis, but Dollar bulls are clearly unamused. Although on Wednesday, as widely expected, US interest rates were raised by 0.25% to a new band of 1.5% - 1.75%, investors were more concerned with the dot-plot and Powell’s press conference. While the policy statement was generally positive and US [...]

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    Sterling boosted by UK jobs report, dollar sobs

Sterling boosted by UK jobs report, dollar sobs

Investors who were itching for another opportunity to propel Sterling higher were given the green light on Wednesday after UK employment data came in stronger than market expectations. The number of people in work unexpectedly jumped in the three months to November, while wage growth offered a pleasant surprise by rising 2.4% - the highest in almost a year. Although the number of jobless [...]

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    BoE keeps rates unchanged

BoE keeps rates unchanged

Sterling offered a fairly muted response during Thursday’s trading session after Bank of England policy makers unanimously voted to leave interest rates unchanged at 0.5% in December. Although inflation in the United Kingdom has jumped to its highest level in almost six years, it seems that the growing uncertainty over Brexit is likely to encourage the central bank to adopt a wait and [...]

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UK inflation holds steady at 3% Euro rallies

Sterling was under immediate selling pressure against the dollar and most other major counterparts on Tuesday morning, after UK inflation unexpectedly held steady in October. Consumer price inflation stagnated in October, coming in at 3.0% as cheaper fuel offset the rising cost of food. While today’s steady CPI release is a breath of fresh air to the Bank of England, it [...]

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Hawkish rate ‘hold’ elevates Sterling

Written by Lukman Otunuga, Research Analyst at FXTM Investors who were anticipating that soaring inflation in the UK would convert some BoE doves, were left slightly disappointed on Thursday, after the MPC voted 7-2 in favor of keeping the rate unchanged. The initial disappointment triggered a knee-jerk reaction lower on the GBPUSD, before prices rebounded higher, as market players digested the hawkish [...]

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    Sterling lower ahead of UK employment data

Sterling lower ahead of UK employment data

Investors who sought fresh insight into the outlook on UK interest rates were left empty-handed on Tuesday after Bank of England’s Deputy Governor Ben Broadbent maintained a safe distance from monetary policy discussions in the speech he gave in Aberdeen. Sellers were swift to exploit this disappointment and to attack the GBPUSD, with prices sliding towards 1.2820 as of writing. Price action suggests [...]

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    UK inflation accelerates in April, Sterling sinks

UK inflation accelerates in April, Sterling sinks

Sterling tumbled lower on Tuesday following reports of UK consumer prices jumping to 2.7% in April, the highest level since September 2013. It is becoming quite clear that the Brexit-fuelled currency weakness has elevated inflation to uneasy levels with consumers likely to feel the pinch if wage growth fails to keep up. Despite the rising prices, expectations of an interest [...]

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    Global stocks dip ahead of Yellen’s speech

Global stocks dip ahead of Yellen’s speech

Global stocks were pressured during Friday’s trading session, as scepticism over the sustainability of the Trump-fuelled market rally and a sense of caution ahead of Yellen’s speech kept investors on edge. Asian equity markets swiftly surrendered gains, while European shares descended into red territory as participants re-evaluated the likelihood of higher US interest rates. The bearish domino effect from Europe, coupled [...]

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    Sterling bears eye manufacturing data

Sterling bears eye manufacturing data

The Sterling swiftly retreated across the board during trading this week as the toxic cocktail of tepid domestic data and renewed Brexit concerns provided a firm foundation for sellers to attack. Sentiment towards the UK economy remains shaky and the painful string of PMI releases last week has left a mark which may have elevated concerns over a potential slowdown [...]

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    Sterling bulls lean on false lifeline

Sterling bulls lean on false lifeline

Stock markets staged a miraculous rebound during trading on Tuesday following the abrupt appreciation in oil prices that renewed risk appetite and boosted some confidence towards the global economy. Asian equities were injected with vigour, with major stocks in Asia venturing into the green territory as the resurgence of risk appetite somewhat weakened demand for the safe-haven Japanese Yen. In Europe, [...]

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NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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