Pound Sterling gives back gains as BoE leave interest rates steady, with 7-3 majority

The Pound Sterling (GBP) faces selling pressure against its major peers on Thursday as the Bank of England’s (BoE) leaves interest rates steady at 4.25%. The BoE was expected to do so as it guided a "gradual and careful" stance to the monetary expansion path in the May policy meeting, following an...

GBP/USD Steady In Mid-Range After US CPI Inflation

GBP/USD moved swiftly on Wednesday, moving closer to 1.2750 after the US Consumer Price Index (CPI) figures for November broadly met market expectations. The rest of the week remains on the UK side of the economic calendar, with Cable traders facing the US Producer Price Index (PPI) figures on...

British Inflation Sends Pound Briefly Below $1.30, Dollar Firm on Fed Outlook, Potential Trump Win

Sterling tumbled to its lowest in two months on Wednesday after softer than expected British inflation data offered scope for the Bank of England to cut rates more forcefully, while the euro was at a 10-week low ahead of a European Central Bank meeting. The pound dropped to as low as $1.2984,...

British Pound Edges Up After Inflation

The British pound cut early losses to approach $1.32, as latest inflation figures for the UK raised bets the BoE will cut interest rates later in the year. Annual inflation remains at 2.2%, in line with expectations, while services inflation has climbed to 5.6% as predicted. Core inflation has...

Sterling Gains some Traction after Drop Below $1.24

The pound held steady against the dollar and nudged up against the euro on Monday, after hitting its weakest since November last week. Investors have cut back their bets in either direction on the pound and hold a fairly neutral stance, based on weekly data from the U.S. markets...

Dollar steady, US inflation data tops this week's bill

The dollar was steady on Monday as a holiday in most major Asian markets subdued the start of what could turn into a busy week, with all eyes on U.S. inflation data for clues on when the Federal Reserve may start to cut rates. The euro was down a whisker at $1.0778, edging off a 10-day high...

Sterling heads for weekly dive versus robust yen

The pound closed in on its largest weekly fall against the yen in a year on Friday, driven by a strong cash flow into the Japanese currency after authorities in Tokyo hinted at a long-awaited change in monetary policy. Sterling is also heading for its worst weekly performance against the dollar...

Sterling Eases After Cooler British Inflation Data

Sterling eased on Wednesday after data showed British inflation cooled more than forecast in October, reinforcing expectations that the Bank of England (BoE) will be cutting interest rates by the middle of next year. The British consumer price index (CPI) rose by 4.6% in the 12 months to October,...

Sterling Rises after Best Week in a Year as Dollar Slide Continues

Sterling Gains as Risk Off Flows Reverse, Rebound vs Greenback Continues

Sterling rose on Tuesday, moving further off recent lows and rallying in line with a rebound across markets, as investment flows to safe-haven currencies and assets a day earlier caused by the war in the Middle East reversed somewhat. The pound was 0.5% higher against the Japanese yen at 182.5...

Dollar holds gains after Fed; franc falls as SNB springs surprise

The dollar hit a 6-1/2 month high on Thursday after the U.S. Federal Reserve signalled policy would remain restrictive for longer, even after holding rates steady, while the Swiss franc dropped after the Swiss National Bank kept rates unchanged. The pound sank to its lowest since April before the...

Sterling Steadies vs Dollar and Euro ahead of Rate Decisions

The pound edged up against the dollar on Wednesday, ahead of a monetary policy decision from the U.S. Federal Reserve and dropped against the euro, which staged its biggest daily fall against the pound in five months the previous day. Sterling was up 0.1% against the dollar at $1.2913 and down...

GBP/USD Recovers Lost Ground Above The 1.2850 Mark Ahead Of FOMC

The GBP/USD pair attracts some follow-through buying and bounces off the 1.2815 mark on Monday. The major pair currently trades around 1.2860 in the early Asian session. Market players prefer to wait to be sidelined ahead of the key Federal Open Market Committee (FOMC) meeting on Wednesday. The...

Sterling Prepped for Rate Decisions, Shakes off UK Political Ructions

Sterling held mostly steady on Monday, ahead of a week packed with central bank decisions and key economic data, starting with a read on the UK jobs market that could be pivotal in setting expectations for what the Bank of England may do next week. The currency market showed little reaction to...

Sterling Heads for Second Weekly Loss as Dollar Surges

The pound was heading for its second straight weekly fall against the dollar on Friday, weighed down by a resurgent dollar and weakness in the British economy. Sterling was up 0.15% to $1.243 on Friday. It was set for a weekly loss of 0.17%, however, after falling 1.45% the previous week. The...

Sterling Trims Drop after BoE Hike, China's Data Sends Dollar Higher

Sterling trimmed declines after the Bank of England raised interest rates for the 12th consecutive time, while the safe-haven dollar rose on Thursday as more evidence of weakness in China's post-COVID recovery clouded the outlook for the global economy. The BoE raised its key interest rate by a...

Sterling Hits Five-Month High Against Euro before BoE Decision

The pound rose to a five-month high against the euro on Wednesday as traders bet a rate hike from the Bank of England on Thursday will not be the last. The euro fell to 86.73 pence earlier in the session, the lowest since Dec. 15. It was last little changed at 86.84 pence. Against the dollar,...

Pound Hits One-Year High Against Struggling Dollar

Sterling hit an over-one-year high against the dollar on Monday as the greenback began the week under pressure, with traders betting it might have peaked along with U.S. interest rates while keeping a wary eye on looming inflation and loans data. The pound poked its head as high as $1.2668, its...

Dollar Slides after Upbeat China Data; Aussie, Pound Rise

The dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China, while strong pay figures from Britain supported the pound. China's gross domestic product (GDP) grew 4.5% year-on-year in the first three months of the year, data showed on Tuesday, beating...

Dollar Dips as European Markets Return from Break

The dollar gave back the previous day's advances against the euro and pound on Tuesday as traders turned their attention to U.S. inflation data due on Wednesday for signs of how close U.S. rates are to peaking. The euro was up 0.52% at $1.0918 and the pound rose a similar amount to $1.2439 as...