The British pound fell against the much stronger dollar, extending yesterday’s losses amid disappointing UK inflation figures attributed to massive discounts and lockdown measures. The GBP/USD currency pair’s decline was also driven by negative investor sentiment as markets anticipate the disruption of Britain’s vaccination drive due to supply interruptions.
The Sterling pound rallied to new 34-month highs against the dollar boosted by the British government’s 4-step reopening plan, which could boost the UK’s economic recovery. The GBP/USD currency pair was also boosted by the drop in the UK unemployment numbers recorded in January. The number of jobless claims fell, indicating that the economy was doing good.
The Sterling pound fell against the dollar despite the release of upbeat UK inflation data as the greenback remained supported by the rising US Treasury yields. The GBP/USD currency pair fell from fresh 34-month highs hit yesterday as the dollar continued to benefit from the $1.9 trillion US stimulus package’s broad expectations.
The Great Britain pound rallied today, gaining against all other most-traded currencies. The main driver for the sterling’s gains was hope that Britain will exit the lockdown sooner rather than later. Domestic macroeconomic data was also helpful to the currency.
The Sterling pound inched higher against the dollar fueled by the positive the fast rollout of the coronavirus vaccine in the country as compared to its peers. The GBP/USD currency pair’s rally was also fueled by investor optimism about Britain’s economic recovery since the government might ease restrictions earlier than expected.
The Sterling pound today fell against the dollar amid slow trading conditions occasioned by the lack of major releases from the UK and US dockets. The GBP/USD currency pair later recovered most of its losses as the pound rallied with US markets closed for Martin Luther King Jr.’s birthday.
The Sterling pound today fell against the dollar after initially inching higher when it became clear that the UK coronavirus lockdown could stretch up to Easter. The GBP/USD currency pair fell as market sentiment towards the pair shifted to bearish, causing a major selloff despite the relatively weak dollar.
The Great Britain pound was mixed today after the United Kingdom has entered a new lockdown due to a surge of new coronavirus cases caused by the new strain of the COVID-19. The sterling fell against commodity currencies, gained on the US dollar, and was about flat versus other most-traded currencies.
The Sterling pound today rallied higher against the dollar boosted by the UK Parliament’s vote to implement the post-Brexit trade deal agreed with the EU. The GBP/USD currency pair’s gains were limited by the rising coronavirus cases driven by the virus’s more virulent strain and new lockdown measures.
The British pound sterling is rising on Christmas eve as it appears the United Kingdom and the European Union have reached a new post-Brexit trade agreement, averting chaos in the broader economy and financial markets. The deal comes as Great Britain was set to leave the 27-nation bloc’s economic structures at the end of the year.
