Latest Currency News Continued - page 72

Pound (GBP) Wavers Amid Ongoing Political Turmoil The Pound (GBP) is trading sideways against the Euro (EUR) today amid the looming political instability. Since Boris Johnson’s resignation, a host of Conservative MPs have thrown their hat into the leadership ring. But with a growing number of candidates, and their respective competing tax plans, political stability could still be some time away. As the UK, and investors,...

Pound Canadian Dollar (GBP/CAR) Exchange Rate Rangebound after Canadian Jobless Figures The Pound Canadian Dollar (GBP/CAD) exchange rate is trading within a narrow range today. A recovery to crude oil prices as well as evidence of a tight labour market in Canada may be capping gains for the currency pair. On the other hand, some hawkish signals from Bank of England (BoE) officials may be underpinning GBP/CAD today. At...

Pound (GBP) Wavers amid Ongoing Political Uncertainty The Pound (GBP) initially strengthened after news broke of Boris Johnson stepping down as Prime Minister. However, Sterling is seen wavering today as political uncertainty still remains. With expectations of Johnson stepping aside immediately following the resignation of more than 50 Tory MPs, Johnson himself declared he intends to stay on until a new leader is...

Pound Euro (GBP/EUR) Exchange Rate Climbs after Johnson Announces Resignation The Pound Euro (GBP/EUR) exchange rate is climbing higher today. The exchange rate has found support after UK Prime Minister Boris Johnson confirmed his resignation earlier today. The currency pair may also be benefitting from fears of a recession in the Eurozone amid the trading bloc’s ongoing energy crisis. At time of writing the GBP/EUR...

Pound (GBP) Waves as Boris Johnson Announces Resignation The Pound (GBP) initially spiked as Boris Johnson announced his resignation but remains fairly muted as the political storm is yet to clear despite the PM stepping down. Within just two days, over 50 MPs resigned from Johnson’s government in the wake of the latest wave of scandals to rock the Tory party. Faced with insurmountable pressure, Johnson was left with...

Pound (GBP) Strengthens amid Brewing Political Storm The Pound (GBP) is enjoying modest success against the Euro today despite a growing number of Tory MPs resigning in the wake of Boris Johnson’s latest scandal that threatens his premiership. Chancellor of the Exchequer Rishi Sunak and Health Secretary Sajid Javid both handed in resignations, both citing that Johnson has lost his ability to run the country competently....

Pound (GBP) Weakens as UK and Global Outlook Continues to Deteriorate The Pound (GBP) is sliding today as the Bank of England (BoE) released its annual Financial Stability Report, outlining how the economic outlook has deteriorated materially. The BoE warned that the outlook for both the UK and the global economy is very uncertain, with several risks likely to affect the financial stability of the UK. With the soaring price...

Pound (GBP) Buoyed by Upwardly Revised PMI The Pound (GBP) is strengthening against the Australian Dollar (AUD), despite initially softening against some of its other peers. As today’s trade began, renewed worries about the UK economy put some pressure on the Pound. Sainsbury’s supermarket revealed its latest results, which showed a sharp decline in sales. Simon Roberts, Sainsbury’s CEO, said that the results...

Pound (GBP) Weakens amid Darkening Economic Outlook The Pound (GBP) is slipping against most of its rivals today as a lack of data has left Sterling vulnerable to the souring market sentiment. Fears over a sharper than desired slowdown in economic growth has worried investors. Domestically, multiple headwinds are piling more pressure on the Pound this morning. The cost-of-living crisis is worsening as the British Chamber of...

Pound Euro (GBP/EUR) Exchange Rate Slides amid Risk-Off Market Mood The Pound Euro (GBP/EUR) exchange rate is falling today after Eurozone inflation hit a new record high. The currency pair may also be struggling amid a risk-off market mood, as well as Brexit-related headwinds for Sterling. At time of writing the GBP/EUR exchange rate is at around €1.1530, which is down around -0.7% from this morning’s opening...