Tag: British pound

May 23, 2023

The International Monetary Fund (IMF) has performed a quick U-turn on the UK’s growth outlook and now sees the economy expanding by 0.4% in 2023. In January this year, the IMF predicted that the UK economy would contract by 0.6% […]

April 13, 2023

The UK economy stood still in February as industrial action in various areas of the services sector contributed to UK growth flatlining. The latest Office for National Statistics (ONS) monthly GDP data showed no growth in February with the services […]

March 30, 2023

GBP/USD traders will have found life difficult this week with the pair moving sideways to marginally higher in a tight trading range. Both the British Pound and the US dollar have had little reason to move either way with a […]

January 5, 2023

The British Pound gained 0.77 percent against the US Dollar and 1.96 percent against the Japanese Yen on Wednesday, respectively. These reflected the best days for GBP/USD and GBP/JPY since December 13th and October 13th, respectively. Looking at IG Client […]

November 28, 2022

The US dollar has given back all its early gains and is now trading in negative territory in early European turnover. The greenback rallied in Asian trade as Chinese covid-zero protests spread, but the strength of the Euro and the […]

October 31, 2022

It looks highly likely that both the Federal Reserve and the Bank of England will hike their borrowing rates by 75 basis points this week, as both central banks continue to struggle with persistently high inflation. While both announcements will […]

August 3, 2022

The Bank of England is expected to hike interest rates for the sixth consecutive meeting on Thursday as the central bank continues to grapple with soaring inflation. The UK central bank is seen hiking the Bank Rate by 50 basis […]

June 2, 2022

GBP/USD called back some of yesterday’s downside in the Asian and European sessions after the dollar took its foot off the pedal as U.S. Treasury yields eased. Currently, the UK economy is under pressure from rampant inflation and slowing manufacturing […]

January 21, 2022

The political pressure on UK PM Boris Johnson continues unabated with media reports that Boris Johnson knew that the Downing Street party he attended was a social event and not a work event, implying that he lied to Parliament. The […]

January 5, 2022

Cable’s recovery from its multi-month lows printed in December continues with the pair pushing ever higher and back to levels last seen over two months ago. The 15 basis point interest rate hike in late December and the government’s slightly […]

November 19, 2021

Keep up to date with all market-moving data releases and events by using the DailyFX Calendar The latest UK retail sales data for October beat market expectations, boosted primarily by higher sales in non-food stores, according to the Office for […]

October 27, 2021

EUR/GBP continues to trade with a bearish inclination as the pound remains supported by expectations that the Bank of England will need to step up its efforts to reduce monetary stimulus in its meeting next week. The pair has been […]

October 11, 2021

The Bank of England may need to hike interest rates earlier than previously expected as UK inflation runs hot, according to two members of the central bank’s rate-setting committee. Speaking to the Yorkshire Post, BoE governor Andrew Bailey said that […]

August 25, 2021

News reports that UK restaurants and supermarkets are running out of supplies could be long-term negative for the British Pound if it delays the eventual tightening of monetary policy by the Bank of England. McDonald’s, for example, said Tuesday that […]

February 26, 2019

Brexit was the name of the game in Tuesday currency trading, with reports of possible delays to the fast-approaching deadline and a second referendum driving the British pound to its highest level since October. “There is one story in Europe […]

August 2, 2018

The Bank of England’s interest-rate hike wasn’t enough to lift the British pound into positive territory versus the U.S. dollar on Thursday. The U.K. central bank upped its benchmark rate by 25 basis points to 0.75% in an unexpectedly unanimous […]