Key to the British Pound's near-term outlook will be the outcome of the midday interest rate decision announced at the Bank of England, an outcome which is too close to call and therefore offers the potential for heightened currency volatility.
January 30,2020
The British Pound is the worst performing major currency of the past 24 hours as foreign exchange traders reduce exposure to the currency ahead of a too-close-to-call decision on interest rates at the Bank of England due on Thursday.
February 4,2020
The odds of volatility on the day are therefore elevated and under such circumstances it is clear that the risk-reward dynamics of buying or selling Sterling at this juncture is unfavourable.
February 4,2020
The British Pound heads into Friday's crunch flash PMI data release riding high, with the UK currency notching up gains against all the major currencies over the course of the past month. Disappointing data will see the currency come under notable pressure.
February 4,2020
The British Pound has extended its short-term rally over the course of the past 24 hours, and in the process broken above 1.18 in GBP/EUR and above 1.31 in GBP/USD, thanks to further signs of growing economic optimism in the UK. However, the higher Sterling goes, the further it has to fall on Friday if the highly anticipated flash PMIs disappoint.
January 23,2020
The British Pound was seen gaining after the release of data out midweek that showed optimism amongst British businesses picked up sharply in the month of January, providing further evidence that January 30 might be too soon for the Bank of England to cut interest rates.
January 22,2020
The British Pound is now recording an advance against the Dollar and Euro for the period that covers the past month, as the weakness in the UK currency that characterised the first part of January starts to fade.
January 22,2020
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