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The Pound starts this week edging up from Friday’s lows. The production and trade data released before the weekend furthered GBP losses after revealing unexpected declines virtually across the board. Industrial production slowed by -0.1% on the month during May, manufacturing production by -0.2% and construction output by -1.2%. All forecasts had been for growth. [...]

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Demand for the Pound improved yesterday following a week of soft private sector PMI prints. Sterling posted minor gains against some of the majors, in what appeared to be a sign that some traders are happy to put the June slowdown down to political uncertainty surrounding the general election. While those bullish on Sterling believe [...]

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Demand for the Pound remained soft yesterday as a minor downtick in the UK service sector PMI completed a hat-trick of underwhelming private sector figures in June. The hugely influential services report, which accounts for over 70% of British GDP, fell from 53.8 to a four-month low of 53.4 with business optimism sinking to its [...]

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The Pound traded broadly lower across the board yesterday as UK construction activity softened. The Construction output PMI came in at 54.8 in June, down from 56.0 in May and lower than forecasts of 55.0. Decelerations in business activity, which hit a 17-month high in May, new orders and employment were to blame for the [...]

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The Pound suffered losses versus most of the majors yesterday in reaction to a two-point drop in the UK’s manufacturing PMI. Markit’s latest report showed that factory output slowed from an index of 56.3 to a three-month low of 54.3 in June due to a cooling of demand both at home and abroad. It was [...]

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GBP NZD Rate Close to 3-Week High

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Date: July 3rd, 2017.

The Pound was able to remain in the region of a three-week high against the New Zealand Dollar on Monday despite the release of weaker than forecast UK manufacturing data. After rallying last week on the back of Bank of England (BoE) rate hike expectations, the Pound’s bullish attitude faltered slightly on Monday following the [...]

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Pound Hits 5-Week High Vs. US Dollar

Posted by:
Date: July 3rd, 2017.

Sterling posted subtle gains against most of the majors on Friday as traders settled quarter-end currency requirements. The Pound rallied across the board late in the London session to complete a 3.2% appreciation against the US Dollar in the second quarter, making it Sterling’s best quarterly performance for two years. Data released by the Office [...]

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The recent rise in Bank of England interest rate speculation continued taking the Pound higher against the majors yesterday. Following hawkish statements from Governor Mark Carney on Wednesday, chief economist Andy Haldane gave markets another slice of rate hike fever yesterday, stating: ‘we need to look seriously at the possibility of raising interest rates to [...]

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Sterling made rampant gains across the board yesterday in response to comments from Bank of England Governor Mark Carney suggesting that some monetary stimulus could be removed in the foreseeable future. Speaking at the ECB forum in Sintra, Portugal, Carney indicated that if domestic growth and wages began to increase then ‘some removal of monetary [...]

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Bank of England Governor Mark Carney announced yesterday that British banks would need to hold an extra £11 billion of capital reserves to insulate against an adverse shift in economic conditions. The move gave Sterling a little bit of a leg-up because the tightening of credit conditions was seen as a sign of confidence in [...]

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