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GBP AUD Remains Under Pressure Despite Dovish RBA Comments

Monday, July 24th, 2017

Investors were not impressed when June’s UK consumer price index report surprised to the downside, with inflationary pressure dipping from 2.9% to 2.6% on the year. While this could offer consumers some relief, somewhat easing the recent squeeze on earnings, this weaker showing prompted the Pound to slump sharply. With inflation falling back the chances […]

GBP Down on UK Inflation Data, ECB Decision Ahead

Wednesday, July 19th, 2017

Confidence in the Pound took a sharp blow as June’s UK consumer price index fell short of forecast. Investors were not impressed to find that inflationary pressure had dipped from 2.9% to 2.6%, even though this signalled some easing in the squeeze on wages. This weaker level of inflation seems to remove some of the […]

Could Dovish SARB Encourage GBP ZAR Rally?

Tuesday, July 18th, 2017

South African manufacturing production continued to underperform in May, with output still contracting on both the month and the year. This underlined the muted outlook of the domestic economy, even as concerns over the proposed nationalisation of the South African Reserve Bank (SARB) eased. Coupled with a general increase in market risk aversion, spurred by […]

GBP NZD Sluggish Ahead of UK and NZ Inflation Data

Monday, July 17th, 2017

The latest raft of UK labour market data failed to bolster the appeal of the Pound for long, even though the unemployment rate unexpectedly fell from 4.6% to 4.5%. Wage growth remained distinctly disappointing, with the average weekly earnings measure slowing from 2.1% to 1.8% in the three months to May. This indicated that the […]

Falling BoE Rate Hike Odds Limit GBP Strength

Wednesday, July 12th, 2017

As recent UK data proved almost universally disappointing, investors were prompted to take a bleaker view of the outlook of the domestic economy, although markets still continued to speculate over the possibility of an imminent return to tighter monetary policy. This created volatility as Bank of England (BoE) deputy governor Ben Broadbent made his first […]

GBP CAD Under Pressure Ahead of Anticipated BOC Rate Hike

Tuesday, July 11th, 2017

UK data proved distinctly disappointing over the course of the last week, with the latest raft of PMIs, trade and production figures all falling short of forecast. This rather undermined speculation that the Bank of England (BoE) could be on track to begin tightening monetary policy in the near future. Given that Governor Mark Carney […]

Wider UK Trade Deficit Prompts GBP NZD Downtrend

Monday, July 10th, 2017

Commentary from various Bank of England (BoE) policymakers has increased volatility for GBP exchange rates in recent weeks. A slightly more upbeat assessment from Governor Mark Carney encouraged renewed speculation that the BoE could raise interest rates sooner rather than later. However, while this helped to boost the Pound against its rivals, the currency struggled […]

Pound Under Pressure as UK Productivity Plunges

Wednesday, July 5th, 2017

June’s raft of UK PMIs all proved discouraging, pointing towards a loss of momentum within the domestic economy in the wake of the general election. This gave investors little reason to favour the Pound over its rivals, particularly as domestic productivity was also found to have contracted -0.5% in the first quarter. None of this […]

GBP ZAR Trends Higher as BoE Looks Increasingly Split

Tuesday, July 4th, 2017

In spite of a lack of particularly supportive UK data the GBP ZAR exchange rate rallied sharply during the last week. This was largely thanks to comments from Bank of England (BoE) Governor Mark Carney which markets interpreted to be more hawkish in tone. Carney’s note that he would be willing to vote for an […]

Intensifying BoE Debate Prompts GBP Exchange Rate Volatility

Wednesday, June 28th, 2017

There have been increasing signs of a split within the Bank of England (BoE) after chief economist Andy Haldane made unexpectedly hawkish noises. This encouraged speculation that August’s policy meeting could see an increased shift towards a tightening bias, setting the Pound on a bullish run. However, as both Governor Mark Carney and Deputy Governor […]

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