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The Pound lost ground against the majors yesterday as markets reacted with disappointment to the Bank of England’s ‘Super Thursday’ announcements. The BoE actually struck a fairly upbeat tone, raising near-term inflation forecasts and hinting that rates would need to rise faster than markets currently project if the Brexit process goes smoothly. Despite this, demand [...]

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In a week so far devoid of significant domestic data releases, the Pound has managed to drift higher versus most of the majors. Today’s ‘Super Thursday’ policy announcement from the Bank of England could either push Sterling even higher or prompt a swift revaluation of the Pound, depending on how hawkish the message. In March [...]

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Sterling drifted along versus the majors without any fresh domestic drivers yesterday. It’s been a slow start for currency traders, who appear to be sitting on the sidelines ahead of the Bank of England’s ‘Super Thursday’ announcements. Investors do not expect the UK central bank to alter monetary policy at this juncture, but traders are [...]

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Billed as one of the most decisive days on the economic calendar in 2017, yesterday turned out to be one of the dullest days to date. After the shocks of Brexit and Trump, which sent uncertainty rippling through financial markets in 2016, anxious traders breathed a sigh of relief yesterday that anti-EU Marine Le Pen [...]

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The Pound performed well on Friday, the final day of a week in which all three British private sector survey’s printed more optimistically than expected. Last week manufacturing hit a three-year high, construction a four-month peak and the dominant services sector struck its second best level since 2015. The upbeat reports went some of the [...]

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The Pound rose against most of the majors yesterday as resilient UK service sector data gave Sterling a leg-up. To complete a hat-trick of upbeat private sector reports, the April services PMI came in at 55.8, beating estimates of 54.5. The services report represented a four-month high for the sector as business activity rebounded from [...]

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Sterling softened slightly versus some of the majors yesterday as a flare-up in Brexit negotiations reminded traders of the risks ahead. UK construction printed at a four-month high of 53.1 in April, up from 52.2 in March, as civil engineering and residential building projects boomed and new staff were added to the payroll. However, the [...]

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The Pound registered gains versus most of the majors yesterday thanks to a three-year high UK manufacturing PMI print. Smashing expectations of 54.0, the factory output index came in at 57.3 thanks to a surge in new orders. It seems that the Pound’s depreciation in the second half of 2016 is having a positive impact [...]

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UK GDP decelerated from 0.7% to 0.3% in the first quarter of 2017, it was reported on Friday. This marked the slowest growth rate for a year. The result was lower than the 0.4% that markets had anticipated and was largely driven by slowdowns in consumer-facing sectors, reflecting the recent surge in inflation. Analysts warned [...]

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It was another positive day for Sterling yesterday as events overseas weighed on some of the Pound’s most-traded currency peers. The main event for Sterling traders today is the first quarter UK GDP report, which is anticipated to show a slowdown in quarterly growth from 0.7% to 0.4%. If market estimates are proved accurate then [...]

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