Jim Makos
Business Currency Updates

British Pound on a Turning Point as Brexit Negotiations Begin

Sterling paused its freefall the previous week as UK political drama eased off and indications for an upcoming rate hike came from Bank of England. Following General Election’s disappointing results for Theresa May, the suggested DUP coalition somewhat calmed the markets, whereas at the same time three BoE members voted for a 25bps interest rate...

Jim Makos
Business Currency Updates

Sterling’s downtrend steepens after UK General Election

A weakening majority for the Conservative Party and a hung parliament for the UK resulted to Sterling’s downtrend steepening last week as the General Election results confirmed the worst scenario of recent polling data. Euro also had a negative week against its American counterpart but it’s more of a correction during its 10-week rally. Can...

Jim Makos
Business Currency Updates

Sterling’s Dip Continues Before General Election

As Euro strengthened last week on positive ecodata coming from Greece, Sterling continued slipping lower against Eurozone’s currency. The slippage comes just a few days before Thursday’s vote, when Conservatives’ majority, if not victory, is predicted. We expect volatility to peak on Thursday, not only because of the General Election but also due to European...

Jim Makos
Business Currency Updates

Politics and Opinion Polls Put Sterling Under Pressure

British Pound continued its fall against Euro the previous week. The politics-driven currency extended its losses due to opinion polls suggesting a declining possibility of Theresa May having a powerful majority following June’s general election. Euro, in the meantime, hit a new high for 2017 against the Dollar, driven by increased confidence and positive economic...

Jim Makos
Currency Updates

Sterling recovery paused on negative BoE forecasts

Following the setback that Macron’s win in France caused on the Sterling to Euro exchange rate, Pound’s recovery struggled last week, due to negative news coming from the Bank of England. Euro meanwhile, suffered big losses against the US Dollar at the week’s start, only to recoup half of them by Friday. Below, we investigate...

Jim Makos
Currency Updates

‘Priced-in’ Macron win leaves Sterling to Euro rate unaffected

Our readers should not have been surprised by the Sterling to Euro rate reaction to Macron’s win in France waking up this morning. After an anaemic week for both currencies, Euro is in fact, losing ground on Monday, despite the win of the Europhile candidate, since the result was, more or less priced in, as we’ve...

Jim Makos