by Prem Raja | Oct 15, 2022 | EU, EUR, FX, GBP, USD
We had a very eventful end to last week with Chancellor Kwasi Kwarteng sacked and replaced by Jeremy Hunt. This came off the back of the BoE refusing to intervene further in the markets and halt it’s GILT purchases. PM Liz Truss held a press conference to calm...
by Prem Raja | Oct 9, 2022 | Brexit, EU, EUR, FX, GBP, USD
Pound sterling exchange rates suffered another blow last week as Fitch downgraded the UK’s outlook to negative amidst the current issues economically. The main reason of course was due to the unfunded fiscal package laid out by the Chancellor at his “Mini...
by Prem Raja | Oct 2, 2022 | EU, EUR, FX, GBP, USD
After a very volatile week- Sterling has managed to regain ground against most majors and has returned to same levels it was trading at prior to the Chancellor’s speech. This move must not be mistaken with the market now thinking the Chancellor’s plan is a...
by Prem Raja | Sep 25, 2022 | EU, EUR, FX, GBP, USD
Last week we saw a “Black Friday” event with Sterling falling over 3% against the Dollar and over 2% against the Euro. This has brought GBPUSD down to 1.0850 and GBPEUR to 1.1190. The only reason the losses were capped at these prices is because the market...
by Prem Raja | Sep 19, 2022 | FX, GBP, USD
It seems Sterling exchange rates have taken the elevator down recently with both GBPEUR and GBPUSD prices trading in the 1.13 area- for the Dollar, we have breached 35-year lows and for GBPEUR we are back to prices seen last year. Currently, the landscape does not...
by Prem Raja | Sep 11, 2022 | Brexit, EU, EUR, FX, GBP, USD
After a very sad week following the passing of Her Majesty Queen Elizabeth II, It seems that whatever is going on with the markets is trivial compared to the somber mood in the UK currently- unfortunately it doesn’t stop global markets so there are some things...
by Prem Raja | Aug 29, 2022 | EU, EUR, FX, GBP, USD
Sterling exchange rates fell at the end of last week after comments from Jackson Hole, bringing GBPEUR down to 1.17 and GBPUSD down to 1.17 as well. Comments from Jackson Hole were still pretty hawkish stating the Fed is looking to raise rates again in September by 75...
by Prem Raja | Aug 21, 2022 | Brexit, EU, EUR, FX, GBP, GDP, USD
It was quite a steady week for Sterling exchange rates with GBPEUR hitting 1.19 on Wednesday, and GBPUSD hitting 1.21 on the same day. The strength in Sterling was very quickly put to bed by Friday after UK data releases which caused Sterling to hit 1.17 against the...
by Prem Raja | Aug 13, 2022 | Brexit, EU, EUR, FX, GBP, USD
On Friday morning the UK had it’s GDP release that showed a contraction of 0.1% (Growth of -0.1%) for the last quarter which was slightly better than what markets were predicting. On the back of this, we saw Sterling maintain some strength through Friday, with a...
by Prem Raja | Aug 7, 2022 | Brexit, EU, EUR, FX, GBP, GDP, USD
The Pound started last week on the front foot against most currencies until Thursday when the Bank of England raised interest rates by 50bps- this, itself would usually be viewed as a hawkish moment from the Central Bank, however, commentary from Governor Bailey very...
