Last week saw the pound struggle to stave off advances by both the euro and US dollar as some disappointing PMI data weighed heavily on the currency in the second half of the session
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Weekly Market Analysis February 5th 2018 |
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US dollar posts first weekly gains of the year after upbeat payroll figures Last week saw the pound struggle to stave off advances by both the euro and US dollar as some disappointing PMI data weighed heavily on the currency in the second half of the session. The pound is holding steady at the start of this week, with GBP/EUR stable at €1.1322 and GBP/USD trading narrowly at US$1.4104. Sterling may show a little more life this week however when the Bank of England (BoE) holds its first rate decision of the year. |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | "Sterling sentiment took a heavy hit at the start of last week’s session as the media got hold of a government paper looking into the economic impact of Brexit." Transfer 24/7 with our currencies direct app |
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Pound volatile in wake of mixed data The pound fluctuated last week as some mixed domestic data and Brexit concerns left the UK currency unable to hold its ground. |
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Euro strengthens as GDP impresses The euro appreciated against most of the other majors again last week as markets welcomed the Eurozone’s latest GDP figures. |
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USD bolstered by better than expected payroll figures The US dollar was finally able to break its run of losses last week, strengthening against the majority of its peers in the wake of some upbeat employment figures. |
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AUD, NZD stumble as USD bounces, AUD suffers as inflation disappoints The Australian dollar and New Zealand dollar both tumbled on currency markets last week as some disappointing domestic data and the resurgent US dollar left both currencies without much of a leg to stand on. |
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