The pound reversed its three-day slide against the euro as a surprise dip in a German economic sentiment index offset weak UK inflation data.
The Australian dollar continued to push higher yesterday, advancing over a cent as sentiment towards the higher-yielding currency remained positive.
Traders continued to sell sterling yesterday, pushing the UK currency down to a five-month low against the dollar, eventually closing at 1.5797.
The pound maintained its downward trend yesterday, losing a further 0.6% as a British report cast doubts over UK recovery prospects.
Click to continue reading “Sterling slides further in the wake of a damning UK economic report”
Sterling reversed a three-day decline against the kiwi, posting marginal gains following a rise in risk aversion, closing the day at 2.1682.
The pound reversed its steady decline against the greenback yesterday as investors relinquished defensive positions ahead of today’s MPC announcement.
Having hit a fresh six-month low against the single currency in early trading , the pound rebounded yesterday, to close up half a cent at 1.0864.
Sterling was unable to capitalize on an early rally against the dollar as weak economic data reaffirmed fears over the fragility of the UK recovery.
The pound was unable to capitalise on improved services data, eventually losing over half a cent to a broadly stronger euro.
The pound advanced a further cent against the aussie on Friday, building on strong gains, as investors remained cautious following weak US employment figures.
Click to continue reading “Pound made gains against the aussie on Friday following weak US data”
Sterling gave back recent gains against the euro on Friday, losing 0.3% as risk aversion weighed heavily on the fragile UK currency.
The pound made gains yesterday, taking support from a revised IMF report and an easing of risk activity to close the day at 2.2316 up 0.7%.
Confidence in the UK currency remained weak on Friday in the wake of comments made by Mr King and the BoE, with the price sinking below $1.60.
Sterling fell yet further on Friday on perceptions that the UK currency would be allowed to weaken to help the fragile British economy.
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Aussie edged higher vs the pound again yesterday, but sterling has rebounded following upbeat comments from a BoE policymaker
The aussie edged higher yesterday as continued strong demand for the high-yielding currency offset positive employment data in the UK.
Click to continue reading “Aussie edged higher vs the pound again yesterday, but sterling has rebounded following upbeat comments from a BoE policymaker”