GBP flows: GBP weaker as public borrowing increases

September 19, 2025 6:32 AM UTC

Rise in PSNB dominates modest strength in retail sales

GBP flows: GBP little changed after marginally softer than expected CPI

September 17, 2025 6:30 AM UTC

UK CPI marginally softer than expected as air fares reverse July gains. GBP little changed but EUR/GBP close to the top of the range

GBP flows: GBP slightly firmer after retail sales

September 5, 2025 6:35 AM UTC

UK retail sales much as expected after significant revisions, GBP a little firmer

GBP flows: EUR/GBP lower after CPI, but support at 0.86

August 20, 2025 6:26 AM UTC

GBP gains from higher than expected CPI, but scope for gains modest as market already prices minimal BoE easing

GBP flows: GBP gains on better than expected GDP

August 14, 2025 6:16 AM UTC

Better than expected June and Q2 UK GDP suggests scope for EUR/GBP to test 0.86 

GBP flows: GBP softer after weaker than expected rise in retail sales

July 25, 2025 6:35 AM UTC

EUR/GBP at 3 month highs as retail sales rise less than expected in June

EUR, GBP flows: GBP weaker on PMIs

July 24, 2025 8:58 AM UTC

Weaker UK PMI pushes GBP lower, but implications are limited near term

GBP flows: GBP steadies after initial dip on PSNB data

July 22, 2025 8:52 AM UTC

June PSNB second highest on record, confirming need for fiscal tightening, but little net GBP impact

JPY, CHF, EUR flows: USD back to near pre-employment levels, JPY still soft

July 4, 2025 6:55 AM UTC

USD has slipped back overnight and the JPY has recovered, but remains weak, especially versus CHF

USD, GBP flows: USD softer after weak ADP, GBP falling on fiscal concerns

July 2, 2025 1:23 PM UTC

USD lower on negative ADP report, GBP declines while UK yields rise on fiscal concerns and talk that Chancellor Reeves may resign

EUR, USD flows: German sales weaker, EUR a little stretched

June 30, 2025 6:41 AM UTC

German retail sales disappoint, FX market generally steady but some risk of EUR/USD correcting lower

GBP flows: GBP lower after MPC votes 6-3 for no change in policy rate

June 19, 2025 11:16 AM UTC

BoE leaves rates unchanged but deputy governor Ramsden joins the established doves in voting for a rate cut. Nevertheless statement still suggetss rate cuts will be gradual, and GBP has already fallen significantly in the last week

GBP flows: GBP slightly firmer after CPI

June 18, 2025 6:22 AM UTC

May CPI was only marginally firmer than consensus, but GBP was due a recovery after recent losses against the EUR

EUR, GBP flows: Better bid on upward revisions in PMIs

June 4, 2025 8:58 AM UTC

EUR and GBP firmer after better PMIs

EUR, GBP flows: Data supportive of EUR and GBP

May 23, 2025 6:40 AM UTC

Strogn UK retail sales and upward revision in German GDP should underpin EUR and GBP

USD flows: Trump lifts equites and USD, though signals are mixed

May 8, 2025 4:09 PM UTC

The US-UK trade deal is underwhelming, if welcome. Trump’s suggestion that tariffs on China could be lowered if talks scheduled this weekend go well is giving the USD a more significant lift, though Trump continues to give mixed signals, making tariff threats alongside a suggestion that equities b

GBP flows: GBP fails to sustain gains on stronger CPI

February 19, 2025 7:38 AM UTC

GBP initially gains on stronger CPI, but fails to sustain rise. GBP supported by yield spreads, but remains expensive and upside progress likely to be tough.

GBP flows: GBP slightly firmer after GDP, but...

February 13, 2025 7:50 AM UTC

UK Q4 GDP rises due to services and inventories but detail unimpressive.  GBP gains modestly but upside limited

GBP flows: Little impact from Mann but GBP risks on the downside

February 11, 2025 9:28 AM UTC

Mann's comments suggest she could remain a dove near term. GBP risks on the downside unless we see EU targeted tariffs 

USD, EUR, JPY, AUD, GBP flows: Awaiting US jobs data

February 7, 2025 7:27 AM UTC

German production and trade data has little impact. JPY stays firm, AUD supported by better risk tone

GBP flows: GBP softer after BoE cuts rates

February 6, 2025 12:19 PM UTC

EUR/GBP rises as UK yields fall following the BoE decision to cut rates, with two votes for a 50bp cut providing a mild dovish signal

EUR, GBP flows: GBP rallies on PMIs, general risk positive tone

January 24, 2025 10:18 AM UTC

GBP recovers as UK PMIs match EUR rise. Global risk positive tone persists helped by PMIs and Trump's less pro-tariff comments overnight

GBP flows: GBP steady after UK labour market data

January 21, 2025 7:25 AM UTC

UK labour market data much as expected. GBP steady but risks still to the GBP downside

USD flows: USD steady after strong housing starts

January 17, 2025 1:37 PM UTC

Little change in the USD after strong housing starts

USD flows: USD weaker on soft PPI

January 14, 2025 1:36 PM UTC

Softer than expected PPI suggests USD downside risks, especially against the riskier currencies