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Weekly Market Analysis July 17th 2017  |
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Pound turbulent as policymakers shake interest rate outlook The pound enjoyed something of a rollercoaster ride last week, as the outlook for monetary policy seesawed on the back of commentary from Bank of England (BoE) policymakers. The GBP/EUR exchange rate had gained 1% to hit €1.1416 by Friday, while GBP/USD shot up 1.7% as odds of a rate hike from the Federal Reserve took a severe knock. Data this week will significantly alter the outlook of both the UK economy and monetary policy. |
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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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| | "Markets had been eagerly awaiting speeches from Janet Yellen, but the Federal Reserve Chair disappointed with a more cautious outlook on inflation than had been hoped"  Transfer 24/7 with our currencies direct app   |
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Pound bounces back vs. EUR, USD It was all about monetary policy last week. Two Bank of England (BoE) policymakers gave the boat a thorough rocking with their comments, leaving the markets eagerly anticipating next month’s interest rate setting meeting. |
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Euro on edge before ECB rate decision Data for the Eurozone was largely positive last week, but some of it threatened to ignite tensions between Germany and the other members of the currency bloc. A strong trade surplus is good for Germany, but accusations it should be spending the windfall in order to help its fellow Eurozone members continued to swirl. |
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US dollar flounders after US inflation slides Markets had been eagerly awaiting speeches from Janet Yellen, but the Federal Reserve Chair disappointed with a more cautious outlook on inflation than had been hoped. Weak data on Friday further hammered hopes that the US would see interest rates hiked again before the end of the year. |
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Australian dollar & New Zealand dollar up on falling US rate hike odds The Australian dollar largely climbed against the pound last week, pushing the GBP/AUD exchange rate down 1.4% to AU$1.6724. The New Zealand dollar didn’t fare so well, and by the end of the week the GBP/NZD exchange rate had improved 0.7% to NZ$1.7823. |
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