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British pound gains a little ground on positive UK services PMI rise

UK Dec services PMI hits 8 month high

The British pound gained ground against the US dollar earlier Thursday, both before and after the release of the December services PMI. Data experts IHS Markit reported services sector activity grew at the fastest pace since April 2017. The details behind that rise, however, were mixed.

January 2018
  • Euro Zone Dec PMI record high confirmed Euro Zone Dec PMI record high confirmed January 2018

    The British pound was little changed in the wake of the weaker than expected UK manufacturing purchasing managers index, Tuesday. The closely watched index showed the pace of growth was slower than had been anticipated in December.

  • Steady US Fed policy also supports sterling Steady US Fed policy also supports sterling December 2017

    The British pound made steady gains overnight and earlier Thursday in the wake of the Wednesday US Federal Reserve policy meeting and better than expected UK retail sales data. While rates rose, as expected, the central bank kept its outlook unchanged, which hurt dollar sentiment.

  • Employment, real earnings both fall Employment, real earnings both fall December 2017

    The British pound moved lower Wednesday morning, following a disappointing UK jobs report. Sterling had made gains against the dollar earlier, as an electoral win for Democrat Doug Jones in Alabama weakened the Republican’s Senate majority.

  • UK Nov CPI rate hits 3.1%

    The British pound gained some support earlier Tuesday from official data showing a higher-than-expected increase in the UK’s consumer price inflation rate. However, the UK currency lost a little ground, shortly after the release.

    December 2017
  • Consumer spending, UK trade outlooks weaken

    The British pound remains subdued in Monday morning trading. Investors appear cautious amid continued Brexit uncertainty and a brace of downbeat UK surveys published overnight.

    December 2017
  • Jobs growth above forecast, earnings growth disappoints

    The US dollar gained strength following the release of monthly US non-farm payrolls data Friday. The report showed payrolls rose, although earnings growth disappointed.

    December 2017
  • Leaders announce accord on first phase of Brexit talks

    The British pound moved higher earlier Friday, following news an agreement has been struck over the Irish border issue, paving the way for Brexit negotiations to finally move forward to the next phase.

    December 2017
  • Senate and House agree bill negotiations

    The US dollar is holding on to earlier gains mid-afternoon Thursday, as investor sentiment is buoyed by the US government’s efforts to deliver the US tax reform bill to US President Trump, this side of Christmas.

    December 2017
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