The GBPUSD pair surrendered its intraday gains and fell back to near 1.2730 in Friday’s New York session as the Cable comes under pressure amid cautious market mood. The S&P 500 opened with some losses, exhibiting that the risk-appetite of investors is weak. The US Dollar consolidated in a tight range, with investors focusing on … Read more
The pound could hit a peak of $1.40 by March next year, bolstered by a more promising economic outlook and the prospects of political stability, according to the CEO of a leading financial advisory and fintech. The bullish prediction from deVere Group’s Nigel Green comes as major financial institutions rush into the UK’s currency, which … Read more
The EURGBP cross remains on the defensive around 0.8425 during the early European session on Thursday, trading with mild losses after the monthly UK Gross Domestic Product data. The UK economy grew more than expected in May after stagnating in April, with the GDP expanding at 0.4% MoM. This figure beat market expectations of 0.2% … Read more
The EURGBP pair is trading with mild losses near 0.8475 in the early European session on Friday. The Pound Sterling is edging higher as the Labour Party led by Keir Starmer appears to be headed for a huge majority in the 2024 UK election, Reuters reported on Friday. Later in the day, Eurozone Retail Sales for … Read more
The EURGBP pair is extending its decline to near 0.8465 in early European trading on Thursday. The Euro is edging lower as the softer Eurozone HICP inflation report prompted the expectation of interest rate cuts from the European Central Bank, while market players will closely monitor the UK general elections on Thursday. The upcoming UK … Read more
The UK election’s influence on the pound is likely to be limited amid widespread expectation of a Labour victory, according to the CEO of a leading independent financial advisory and fintech. The prediction from Nigel Green, deVere Group chief executive, comes as Britain heads to the polls on Thursday, July 4, with the current opposition Labour Party … Read more
Stocks in certain sectors are likely to see notable benefits if Sir Keir Starmer’s Labour party wins in the July 4 elections, as anticipated, according to the CEO of a leading advisory and asset management group. Three in particular stand out as key winners of a Labour win, said Nigel Green, CEO of deVere Group. “While … Read more
Investors are revising strategies to capitalise on the potential strengthening of the pound (GBP) in the wake of a Labour victory in the UK election on July 4 and increasing political uncertainty in Europe, according to the CEO of one of a leading independent financial advisory and fintech. A Bloomberg survey on Monday suggested that … Read more
The euro is experiencing a third successive decline against the pound sterling, with the EURGBP pair rising sharply at 0.8531, notching a 0.26% gain. Eurozone inflation data, both headline and core HICP, exceeded forecasts, potentially impacting the timing of the ECB’s easing cycle. Spain’s HICP data came in higher than expected at 3.8% YoY, while Germany’s HICP harmonised inflation rate increased to 2.8% YoY. The EU’s block figures also rose, indicating unexpected inflation pressures that may lead the ECB to reconsider its dovish stance.
The GBPUSD pair weakened to 1.2695 in early Asian trading on Thursday due to a stronger US Dollar supported by higher US yields and lower bets of a Federal Reserve rate cut in September.