GBP, NOK flows: GBP and NOK find mild support from better GDP

May 15, 2025 6:47 AM UTC

UK Q1 GDP revised up, Norway Q1 GDP stronger than expected. GBP and NOK see mild gains, NOK has scope for more

GBP flows: EUR/GBP edging lower but UK labour market data neutral

May 13, 2025 6:44 AM UTC

EUR/GBP decline likely to stall near 0.84.

GBP flows: Little changed on strong retail sales

April 25, 2025 6:46 AM UTC

UK retial sales were strong in March, but were partly weather affected. GBP little affected as Q1 strength is expected to fade

EUR, GBP flows: UK PMIs particularly weak, GBP a little softer

April 23, 2025 8:50 AM UTC

UK composite PMI lowest since the pandemic

GBP, CHF, JPY flows: GBP a little softer, CHF and JPY strength could be challenged

April 16, 2025 6:31 AM UTC

GBP edging lower more on the dip in risk sentiment than weak CPI. CHF and JPY remain strong, but CHF strength may fade if equity ranges hold

GBP flows: GBP has upside scope despite weaker data

April 15, 2025 6:24 AM UTC

GBP has scope for recovery even though weaker labour market data suggests rate cut very likely in May

GBP, EUR, USD, CHF flows: GBP slightly firmer on GDP, USD remains under pressure

April 11, 2025 6:59 AM UTC

GBP benefiting from much strogner than expected UK GDP. USD remains under pressure, CHF strength may be a little overdone

USD flows: Another partial climbdown from Trump, uncertainty persists

April 9, 2025 6:12 PM UTC

Stocks have surged on the latest Trump announcement, a 90-day pause on tariffs with the reciprocal rate lowered to an across the board 10%, coupled with a fresh escalation with China, moving to 125% from 104%.  It appears China’s retaliation has given Trump an excuse to partially back down elsewh

USD flows: Mixed tariff bag, some relief for Canada and Mexico, Japan and EU hit

April 2, 2025 9:30 PM UTC

The Trump tariff announcement is a mixed bag, with some relief for Canada and Mexico but aggressive action on Japan and the EU, as well as several developing nations.  The net impact is probably not much off expectations for the US economy, which will face somewhat higher inflation and somewhat slo

GBP flows: GBP slips on weaker GDP

March 14, 2025 7:31 AM UTC

GBP lower as January GDP falls 0.1%

EUR, GBP, scandi flows: EUR and scandis firm as risk sentiment recovers

March 11, 2025 8:00 AM UTC

EUR recovering as equity futures bounce, GBP slips to 6 week low against the EUR. Scandis the best performers.

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, SEK flows: GBP and SEK slightly firmer after data

February 18, 2025 7:18 AM UTC

UK employment data a little stronger than expected. Swedish CPI in line with consensus. Limited upside for both GBP and SEK

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 

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, EUR flows: GBP softer after borrowing data

January 22, 2025 7:19 AM UTC

GBP edges lower after higher than expected PSNB. EUR rally fades after Trump tariff threat

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

GBP flows: GBP slightly lower on weaker GDP

January 16, 2025 7:41 AM UTC

EUR/GBP edges up as GDP data disappoints. Still scope for further GBP losses

GBP flows: GBP slightly weaker after softer CPI

January 15, 2025 7:26 AM UTC

UK December CPI comes in softer than expected and increases the chance of BoE easing, suggesting further downside risks for GBP

GBP flows: GBP starting soft

January 9, 2025 7:56 AM UTC

GBP under pressure on worries over weak growth and fiscal position, although rising bund yields have also contributed

EUR/GBP Flows: BOE Rate Cuts

December 23, 2024 2:30 PM UTC

 GBP heads into Christmas well underpinned versus the EUR, amid money market expectations that the BOE will only cut by two 25bps steps in 2025 (first one full priced for May!) versus four from the ECB.

GBP flows: GBP stays soft after retail sales

December 20, 2024 7:45 AM UTC

GBP stayn on the back foot after mildly softer retail sales with the MPC vote and statement suggesting downside risks

GBP flows: GBP slips on 6-3 vote for no change

December 19, 2024 12:25 PM UTC

The MPC voted 6-3 for no chance, with the 3 votes for a cut one more than expected. Still scope for the makret to price in more easing suggesting GBP downside risks

GBP, AUD flows: GBP slightly softer after CPI, AUD surprisingly weak

December 18, 2024 7:41 AM UTC

GBP edges lower after CPI. AUD/USD hits new low for the year

GBP flows: GBP up on strong earnings data

December 17, 2024 7:35 AM UTC

EUR/GBP dips further below 0.83 as average earnings growth picks up

EUR, JPY, GBP flows: JPY and GBP firm, EUR soft

December 2, 2024 8:10 AM UTC

JPY strength continues, GBP gaining ground against the EUR

GBP flows: Stronger CPI GBP supportive

November 20, 2024 7:32 AM UTC

GBP rises on stronger than expected October CPI

GBP flows: GBP softer after weak GDP

November 15, 2024 7:41 AM UTC

GBP slips lower after weak GDP but decline is modest and underlying GBP strength remains

GBP flows: GBP edges lower after labour market data

November 12, 2024 7:39 AM UTC

UK labour market data mixed but GBP slightly lower, perhaps focusing on the rise in the unemployment rate. But stronger than expected average earnings data may be more significant and could prevent a BoE rate cut in December

USD, EUR, GBP, JPY flows: USD firm in early trade

November 11, 2024 8:11 AM UTC

USD firm as markets anticipate Trump administration. GBP resilient, USD/JPY stretched

USD, CAD, EUR, JPY flows: USD reverses gains, CAD in focus

November 8, 2024 7:59 AM UTC

The rise in US yields and the USD after the election have largely been reversed, but equities remain elevated and commodity currencies have outperformed. But the CAD remains vulnerable if today's employment report is weak.

GBP flows: GBP slumps as gilt yields rise sharply

October 31, 2024 2:19 PM UTC

GBP falling sharply in an echo of the post-Truss budget reaction of 2022. Hard to oppose GBP weakness. 

GBP flows: Still scope for rerating despite more dovish BoE

October 22, 2024 2:04 PM UTC

GBP unlikely to benefit from any further rise in yields, but could still gain if there is a positive reaction to the first budget from the new government.

AUD, GBP, NOK flows: Risk negative start to the week

October 21, 2024 7:03 AM UTC

Risky currencies dip as Asia equities slip ahead of European open. AUD and NOK weakness looks overdone

GBP flows: GBP rises on strong retail sales

October 18, 2024 6:45 AM UTC

EUR/GBP lowest since April 2022 after an unexpected rise in UK retail sales in September

GBP flows: GBP falls back on weaker CPI

October 16, 2024 6:47 AM UTC

GBP dips as CPI data increases chances of rate cuts

GBP flows: GBP firm but downside risks

October 14, 2024 7:12 AM UTC

GBP firm overnight but risks on the downside 

GBP flows: GBP little changed after GDP, but...

October 11, 2024 6:43 AM UTC

GBP little changed as GDP rises 0.2% in August as expected, but high level of GBP looking harder to justify