The Sterling pound today fell to new 27-month lows against the US dollar as markets reacted to a poor UK jobs report and the uncertain British political environment. The GBP/USD currency pair was also adversely affected by comments from the two remaining Conservative Party candidates saying that the Irish backstop was dead.
The British pound today fell against the US dollar reversing all of Friday’s gains amid a lack of any major releases from the UK docket. The GBP/USD currency pair fell due to the absence of catalysts to prop up the Sterling with the pair’s performance being driven largely by investor sentiment.
The Great Britain pound was the strongest major currency today, rising against all of its most-traded rivals. While there were plenty of macroeconomic reports released in the United Kingdom during the trading session, the most likely reason for the rally was profit-taking by bears as the sterling was still one of the weakest currency during this week.
The British pound today rallied to its daily highs early in the session driven largely by US dollar weakness as investors expect the Fed to announce its rate cut plans. However, the GBP/USD currency pair quickly dropped following comments by Boris Johnson regarding the October 31st Brexit deadline.
The British pound today fell to its daily lows in the mid-London session as investors reacted to the release of the weak UK public sector finances data. The GBP/USD currency pair was also weighed down by the political uncertainty in the UK as investors deal with the prospect of a hard Brexit.
The British pound today fell from its daily highs in the mid-London session following the dovish outlook painted by the Bank of England following its rate decision. The GBP/USD currency pair had rallied to its daily highs earlier in the session by riding on the wave of broad US dollar weakness following yesterday’s dovish FOMC statement.
The British pound today rallied higher in the early London session following the release of the latest UK inflation data, which was in line with consensus estimates. The GBP/USD currency pair extended yesterday’s gains and rallied into the American session to print new weekly highs driven by positive investor sentiment.
The Great Britain pound declined today as Brexit fears continued to weigh on the currency. The losses were limited, though, and the sterling has managed to eliminate them against some rivals.
The Sterling pound today rallied against the US dollar in the mid-London session as Boris Johnson floored his opponents in the first round of voting within the Conservative Party. The GBP/USD currency pair had fallen earlier today as markets reacted to yesterday’s defeat of a motion to eliminate the possibility of a hard Brexit.
The British pound today rallied to new weekly highs against the US dollar following Boris Johnson‘s launch of his campaign to become the next Conservative Party leader. The GBP/USD currency pair later fell as the US dollar recovered and investor sentiment shifted away from the pound amid the leadership uncertainty occasioned by Theresa May‘s impending departure.
