Pound Remains Bullish on Re-Emergence of US Banking Concerns
The demand for Pound Sterling is rising as a result of rising worries about the stability of U.S. financial systems and speculation that the European Central Bank may have reached the apex of its interest rate hiking cycle. The repeated
Read MoreYen Remains Weak as BoJ Shows No Signs of Ending Stimulus Program
During the last session of the week, the Pound to Japanese Yen exchange rate achieved its highest point of the year, nearing the 2022 highs. This was due to the Bank of Japan (BoJ) stating that it may take a
Read MorePound Sterling Gains Ground Against Euro & Dollar as Inflation Data Suggests Another Rate Hike by BoE
The British Pound went up against the Euro, the U.S. Dollar, and most of its other peers after a string of strong inflation numbers in the UK. These numbers mean that the Bank of England will raise interest rates again
Read MoreSafe Haven Buying Propels Greenback Against the Euro Despite Weak US Retail Sales
When U.S. retail sales numbers came out and they were much lower than expected, the Dollar got stronger and stocks went down. Retail sales in the US fell 1.0% from February to March, which was worse than the expected 0.4%
Read MoreRobust US Payroll Report Strengthens Greenback Against Pound
During the Good Friday trading session, the Pound to Dollar exchange rate experienced a reversal of some of the gains made earlier in the week. This was due to the release of non-farm payrolls data, which portrayed a robust outlook
Read MoreEuro Remains Strong on Anticipations of Further Rate Hikes
Euro exchange rates may depend on additional interest rate increases by the European Central Bank (ECB) in response to news that the largest economy in the Eurozone continues to experience widespread inflationary pressures. The Euro was the best-performing major currency
Read MorePound Remains Strong Against the Euro as BoE Signals Likelihood of Additional Hikes
Some analysts anticipate future gains for the British pound in the aftermath of the Bank of England’s most recent interest rate increase. As anticipated, the Bank raised interest rates by 25 basis points and stated that future rate increases would
Read MoreMarket Awaits Bank of England’s Interest Rate Decision
Recent statistics support arguments that UK inflation and its core determinants are cooling down, but economists and market participants remain divided about their expectations from the Bank of England (BoE) in the coming week, with a sector of traders speculating
Read MorePound Strengthens Against Canadian Dollar on Moderate UK Economic Data
In spite of Canada having a respectable employment report for February, the exchange rate for the British pound to the Canadian dollar reached its highest level in a month just before the weekend. The strengthening of the pound was aided
Read MoreRobust US ISM Report Strengthens Greenback Against Pound
A crucial poll of the U.S. economy arrived in better than anticipated, causing the Dollar to recover prior to the weekend. The US ISM services PMI registered 55.1 in February, exceeding forecasts for a decline to 54.5 from 55.2 in
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