The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%. Ask any British consumer, and they'll tell you that food prices have been going through the roof. The BRC provided data in that regard, stating that food inflation hit a record 13.3% in December, up from 12.4% in November. The...
GBP/USD is sharply lower on Wednesday. In the North American session, the pound is trading at 1.2093, down 0.74%. There was an unexpected surprise from the UK CBI Realized Sales today. December sales volumes showed a strong rebound, rising 11 points. This easily beat the November reading of -19 and the consensus of -21. However, retailers expect the rebound to be...
The British pound is sharply lower on Thursday as the US dollar has rebounded against the major currencies. In the North American session, GBP/USD is trading at 1.1787, down 1.07%. We continue to see sharp swings from the pound in November. Jeremy Hunt's Autumn Statement was much more in keeping with the difficult economic times than the ill-fated mini-budget...