Business

Nerves creep in to crypto markets as weekend looms

Nerves creep in to crypto markets as weekend looms Almost every cryptocurrency felt the shockwave with huge tumbles across the board in a near repeat of last weekend’s collapse which almost saw a bitcoin worth $10,500 as it reached a 2020 peak on Friday night before dumping to $9,600 by Sunday afternoon. The wild movement has led some observers to believe ...

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Pound euro exchange rate dips as post-Brexit nerves eclipse January’s UK retail sales hike

Pound euro exchange rate dips as post-Brexit nerves eclipse January’s UK retail sales hike Although retail sales have improved along with overall British consumer confidence, Senior Economist at Berenberg Kallum Pickering said this provided little “evidence of strong gains to come throughout 2020” due to post-Brexit uncertainty. Samuel Tombs, the Chief UK Economist at Pantheon Macroeconomics, was more optimistic, saying that ...

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Pound US Dollar exchange rate: GBP/USD falls as investors flock to safe haven dollar

Pound US Dollar exchange rate: GBP/USD falls as investors flock to safe haven dollar Investors rushed to the dollar after scientists warned the virus could spread more easily than previously thought after two elderly passengers on a cruise ship quarantined in Tokyo died. A rate cut from the People’s Bank of China (PBoC) also did little to boost risk appetite. The dollar ...

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Pound US dollar exchange rate: GBP/USD dips as ‘Brexit fog’ continues to haunt UK economy

Pound US dollar exchange rate: GBP/USD dips as ‘Brexit fog’ continues to haunt UK economy Although inflation moved closer to the Bank of England’s (BoE) target, Robert Alster, Head of Investment Services at Close Brother Asset Management, was downbeat in his analysis, commenting: “[D]espite this greater economic optimism, the UK is not yet out of the Brexit fog and the ...

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Pound euro exchange rate: GBP/EUR falls despite unexpectedly upbeat UK inflation

Pound euro exchange rate: GBP/EUR falls despite unexpectedly upbeat UK inflation Although Sterling failed to gain on the euro the currency was able to edge up against a handful of currencies after UK inflation unexpectedly rose to a six-month high.  In January consumer price pressures rose by 1.8 percent year-on-year, compared to December’s 1.3 percent. Although this isn’t far off ...

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Pound Euro exchange rate: GBP/EUR rises as German investors’ mood deteriorates

Pound Euro exchange rate: GBP/EUR rises as German investors’ mood deteriorates The single currency extended its losses today, even hitting a three-year low against the US dollar following further disappointing German data. Pessimism about the bloc’s largest economy heightened after ZEW revealed February saw a sharp decline in investor confidence.  Investor mood in Germany deteriorated faster than anticipated this month, as ...

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Nightmare weekend for crypto as markets crumble

Nightmare weekend for crypto as markets crumble The world’s most dominant cryptocurrency had enjoyed the love of St Valentine’s Day with a surge from $10,000 to within touching distance of $10,400 – a robust-looking move which provoked plenty of excitement among investors. Other cryptocurrencies followed suit, with altcoins (alternatives to the market-leading bitcoin) finding new momentum. Eyes were particularly fixed on Bitcoin ...

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Pound US Dollar exchange rate: GBP/USD flat as Covid-19 appears to be a ‘long-term issue’

Pound US Dollar exchange rate: GBP/USD flat as Covid-19 appears to be a ‘long-term issue’ Many now see the spread of Covid-19 across China as a long-term issue, and global growth could suffer. Reduced demand for higher-risk assets lent USD further support. Commenting on this, Societe Generale’s manager of currencies, Kyosuke Suzuki noted: “Coronavirus is increasingly looking like a long-term issue ...

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