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British Pound Swings Widely on UK Data and Chinese Rumors

The British pound today recorded wide swings against the US dollar as it dropped to 8-week lows and rallied higher on US dollar weakness. The rally was mainly triggered by rumors originating from China, but was short-lived as the pound headed lower much later.

British Pound Gains Against US Dollar on Positive UK and US Data

The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar.

British Pound Rallies Against US Dollar on Mark Carney’s Speech

The British pound today rallied higher against the US dollar after Mark Carney‘s testimony before the UK parliament, which was interpreted by investors as being quite hawkish. The pound was on an uptrend against the US dollar from the early European session despite the lack of any fundamental drivers due to the nearly empty UK economic docket.

GBP/USD Trades Sideways on Brexit Jitters and US Data

The GBP/USD currency pair today traded in a sideways range during the early European session given the empty UK economic docket. Much of the currency pair’s movement was in reaction to news concerning Brexit negotiations and yesterday’s US macro data.

Pound Rallies on UK Retail Sales and Declines on BoE Decision

The British pound today rallied higher against the US dollar after the release of upbeat UK retail sales data for the month of November. The pound declined significantly from its daily highs after the Bank of England kept interest rates at their current levels as was expected.

Pound Remains Pressed by Brexit Worries

The Great Britain pound declined today, continuing to be dragged down by worries about the Brexit.

GBP/USD Retraces Earlier Gains as the US Dollar Index Surges

The GBP/USD currency pair today retraced some of its earlier gains made during the European session in the North American session as the US Dollar Index rallied higher. The currency pair had rallied higher during the mid-European session after the release of UK CBI trends data, which beat expectations.

British Pound Declines Against US Dollar on UK Labour Report

The British pound today briefly rallied higher against the US dollar after the release of the UK employment data by the Office for National Statistics, which beat expectations. However, the rally was short-lived as the GBP/USD currency pair retraced all its gains within the same hour as markets reviewed the labor report.

US Dollar Remains Stable After Week of Important Events

The US dollar ended the week on a relatively strong footing considering how many important events happened during the past week’s trading, which could have hurt the currency.

Pound Crashes After Dovish Hike by BoE

The Bank of England hiked its main interest rate for the first time in a decade as was widely expected, but markets considered the hike to be a dovish one. The Great Britain pound crashed as a result, falling more than 1% against its most-traded peers.

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