United Kingdom — News Archive

The Great Britain pound fell during the past trading week on poor macroeconomic data and concerns that the Bank of England will postpone the planned interest rate hike. The Canadian dollar had the similar issues.

The British pound today declined against the US dollar following the release of disappointing UK retail sales data in the early European session. However, the pound recovered almost immediately and went on to hit a daily high in the mid-European session, before declining from the early American session.

The British pound today dropped significantly against the US dollar following the release of disappointing UK Consumer Price Index data in the early European session. The pound’s decline started during yesterday session after the release of weak UK wages report and upbeat US housing report, which made the pound drop from its post-Brexit highs.

The GBP/USD currency pair today traded lower after the release of mixed UK labour market report in the early European session. The currency pair cemented its losses during the early American session after the release of upbeat US housing data amid a resurgence in US dollar demand.

The British pound today dropped slightly against the US dollar following a deluge of mixed releases from the UK docket including the crucial manufacturing production data. The GBP/USD’s decline was further accelerated by profit taking as most traders closed their trades following the currency pair’s massive rally, which started on Friday last week.

The Great Britain pound rallied today against some of its major rivals, though not against the euro, even as macroeconomic data released in the United Kingdom over the trading session was rather poor.

The Great Britain pound gained today, propelled higher by a better-than-expected manufacturing report, but has lost most of its gains by now.

The British pound today declined against the US dollar after the release of the UK Q4 GDP data and the country’s current account data, which were published in the early European session. The current account deficit boosted the pair slightly by coming in lower than expected, while the GDP data did not provided the added boost to the currency pair as expected.

The Great Britain pound rallied today on the outlook for an interest rate hike from the Bank of England in May. Negative domestic macroeconomic data did not hurt the currency much.

The US dollar fell this week due to the fears of trade wars and disappointment after the monetary policy announcement by the Federal Reserve.