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Pound Drops As UK Jobless Level Rises

Unemployment Rate RisesThe latest set of UK labour market readings, released today, was something of a mixed bag. On the one hand, wages were seen holding steady at 5.6%, above the expected 5.5%, with...

FTSE Rallying Ahead of BOE

FTSE Breaking OutAhead of the Bank of England meeting today, the FTSE has broken out to its highest levels since May 2023. A weaker-than-forecast inflation reading earlier in the week has prompted...

GBPUSD Reversing Ahead of Key Central Bank Meetings

Cable Correcting LowerGBPUSD has pulled back below the 1.2832 level this week and is on course to end the week in the red, despite some better data along the way. The uptick in USD has squashed any...

GBPUSD Testing Support Ahead of BOE

BOE Up NextFollowing on from the Fed yesterday, the BOE will step into centre stage today. Given the building speculation around anticipating the first 2024 central bank rate cuts, there is plenty of...

GBP Lower As Market Weighs Dovish BOE Risks

BOE Up NextGBP remains under heavy selling pressure ahead of the BOE meeting today. Over recent weeks the Pound has fallen sharply amidst a swift repricing of UK rates. With UK inflation falling and...

GBPUSD Falls - Expectations Split Following BOE Hike

UK Rates Hit 15yr Highs The British Pound came under heavy selling pressure yesterday as traders reacted to the latest rate adjustment from the BOE. The UK central bank hikes rates for a 12th...

UK Inflation Jumps, Casts Uncertainty Ahead of BOE

UK Inflation Jumps in Feb The latest set of UK inflation figures has thrown a spanner in the works for the BOE ahead of tomorrow’s keenly awaited March rates meeting. Traders had been increasingly...

Market Spotlight: GBPUSD Threatening to Break Lower

Pound Under PressureThe British Pound has been among the chief victims of the fresh strength we’ve seen in USD on the back of Powell’s comments yesterday. With better UK data out yesterday (housing...

Market Spotlight: UK Avoids Recession By Thinnest of Margins

UK Economy On the EdgeThe latest UK economic data today suggests that the recent optimism we’ve seen might be a little pre-mature. Preliminary quarterly GDP was seen at 0% in Q4, just above the -0.3%...