Spectrum FX Daily Report
GBP: The British Pound eased off from recent highs as investors turned their attention to UK Chancellor Rachel Reeves’s upcoming budget. In fact, Sterling sentiment weakened as investors speculated on how expected tax and spending cuts may impact the government’s plans to boost UK economic growth. Elsewhere, the BoE will publish its latest consumer credit figures […]
Spectrum FX Daily Report
GBP: The British Pound retraced part of its recent gains against the U.S. Dollar yesterday, falling back from 29-month highs touched on Tuesday despite no major market-moving news being released. Looking forward, UK economic data remains thin on the ground today, potentially leaving the pound without a strong directional bias. EUR: The Euro lost a bit of […]
Spectrum FX Daily Report
GBP: The British Pound ticked broadly higher through yesterday’s session, with investors seemingly unfazed by Prime Minister Kier Starmer’s warning that the government’s Autumn Budget will be ‘painful’. This upside in Sterling appeared to be supported by recent comments from BoE Governor Andrew Bailey, which have further eased interest rate cut expectations. While UK data remains […]
Spectrum FX Daily Report
GBP: The British Pound continues to muster some strength as the expectation that the UK central bank’s policy-easing cycle will be slower than that of other major central banks has provided GBP with some support. In fact, BoE Governor Andrew Bailey said on Friday that he was “cautiously optimistic” about inflation, but it was premature to […]
Spectrum FX Daily Report
GBP: The British Pound is trending broadly higher following yesterday’s better than forecast set of preliminary PMIs in the UK. In fact, S&P Global reported in its latest release that the UK manufacturing sector expanded at its fastest pace in two years, with the index rising to 52.5 in August’s estimates, surpassing market projections of 52.1. […]
Spectrum FX Daily Report
GBP: The British Pound has rallied across the board yesterday as recent inflation and employment reports have strengthened the case for the Bank of England to maintain interest rates at 5% in its upcoming September meeting. Looking forward, today’s PMI data will be pivotal for the British Pound. Stronger figures could reinforce the case for the […]
Spectrum FX Daily Report
GBP: The British Pound is largely subdued this morning amid an ongoing lull in fresh UK data. With macroeconomic releases in short supply, shifting BoE interest rate cut speculations impact GBP movement once again. Investors are split on the chances of another rate reduction by the BoE a month from now, after it kicked off a […]
Spectrum FX Daily Report
GBP: The British Pound traded sideways through yesterday’s session as GBP investors continued to adjust their bets for a potential Bank of England interest rate cut next month. This followed a flood of high-impact UK economic data last week, which despite being mostly positive, was not enough to weaken bets for back to back rate cuts […]
Spectrum FX Daily Report
GBP: The British Pound strengthened last Friday thanks to a 0.5% recovery in UK retail sales in July. However, Sterling surrendered a large portion of its gains in the afternoon. Looking forward, data will be largely absent for the majority of the week, which could see GBP exchange rates trade without a clear trajectory until the […]
