Sterling rallied to new recent highs after the Bank of England struck a more hawkish tone than expected in its statement, indicating a rate hike could come in the “coming months”. As expected, the Bank kept interest rates on hold, and only two member… Read more

Sterling fell back from recent highs as wage growth disappointed. Cable lost further ground as the dollar gained on discussions of the US tax plan, details of which may come later this month. Sterling-dollar fell towards 1.3200, down from one-year hi… Read more

Sterling rallied yesterday after inflation accelerated more than expected to 2.9% in August, matching highs last seen in May. Retail and Producer Price Indices surprised to the upside as well. The gains reignited speculation that the Bank of England … Read more

Sterling picked up as the week kicked off, regaining 1.1000 against the euro for the first time since 17 August. Cable again tested 1.3200, before the dollar regained ground in the afternoon session. The dollar’s afternoon bid tone also saw it gain a… Read more

Cable broke 1.3200 on Friday for the first time since 03 August as the dollar remained under pressure and the pound received support from above-forecast Manufacturing Production data. Sterling’s gains bring into focus the year-to-date high of 1.3272.… Read more

The euro gained yesterday as the ECB kept policy on hold and ECB President Draghi signalled that the ECB would announce its tapering decision this autumn. The euro eventually hit a new high since January 2015 against the dollar in overnight trading, … Read more

The Bank of Canada increased interest rates from 0.75% to 1.00%, taking some investors by surprise as the consensus had been for the bank to keep interest rates on hold. As a result, the Canadian dollar jumped around 2% against the pound, pushing the… Read more

Sterling rallied yesterday despite a dip in Services PMI. The euro and the dollar continued to pull back on expectations that the path to monetary policy normalisation in both the US and the Eurozone might be slower than previously anticipated. Sterl… Read more

UK Construction PMI fell from 51.9 to 51.1, versus a projected gain, weighing on the pound as the week kicked off. Eurozone Producer Price Index data then fell short of forecasts, weighing on the euro as traders look for signs that prices are acceler… Read more

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