The Pound retained a fairly sturdy exchange rate against most of its peers yesterday as decent public sector borrowing figures equalled out a surprise drop in retail sales volumes.
The Office for National Statistics (ONS) reported that the British government had to borrow just £6.7 billion during March to balance the books, which, miraculously, helped Chancellor George Osborne to meet his revised target of bringing public sector borrowing down to £90 billion or below in the financial year 2014/15. The result will have pleased members of David Cameron’s Conservative government, especially …

The GBP rate firmed against the Euro on expectations that upcoming UK Service PMI data will come in positively. The service sector is the dominant sector of the UK economy and as such, a strong figure will have more of a positive impact than the previous manufacturing and construction PMI reports, which both came in better than forecast. Market attention will now turn to Thursday’s Bank of England policy meeting.
US Dollar
The US Dollar was softer against many of its major peers due to the release of more mixed data from …

The Pound firmed against the Euro and US Dollar as both currencies weakened on tumbling oil prices and increased demand for safe-haven assets. Sterling gains were restrained after data released by Rightmove showed that house prices fell by-3.3% on a month on month basis in December. On an annual basis, prices fell from 8.5% to 7.0%. The currency could experience further movement if the latest CBI Industrial Trends Orders data comes in positively.
US Dollar
The US Dollar softened against the Japanese Yen and other major peers as steep declines in …

The GBP FX rate softened against most of its major peers after a report released by the Royal Institution of Chartered Surveyors (RICS) showed that house price growth slowed for a sixth month in November. The house price gauge fell to a reading of 13, the lowest figure since May 2013. RICS said that prospective buyers might be delaying purchases until after the general election. A property tax change announced by Chancellor George Osborne last week could reverse the slowdown next year.
US Dollar
The US Dollar strengthened against the majority …

The Pound firmed slightly against the Euro after a European Central Bank (ECB) board warned that falling oil prices could push Eurozone inflation below 0%, raising expectations that the ECB will announce a quantitative easing programme in the New Year. GBP weakened against other peers as UK industrial and manufacturing production data came in below economist forecasts. The currency is likely to experience volatility later in the session when the latest UK trade balance data is released.
US Dollar
The US Dollar recorded gains against major peers such as the Pound and …

Last week the Pound rallied against the Euro amid expectations that the European Central Bank will roll out full scale quantitative easing measures early next year. However, the British currency fell against the US Dollar as the ‘Greenback’ was buoyed by an impressive US Non-Farm Payrolls print. With UK reports in short supply today, Pound movement will be dictated by global economic developments, the UK Lloyds Employment Confidence Index and speeches to be given by two Bank of England officials.
US Dollar
The US Dollar posted gains across the board …