Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

EURO / BRITISH POUND (EUR/GBP)

Delayed Quote. Delayed  - 08/02 02:33:19 am
0.8537 GBP   -0.03%
01:26aTAKE FIVE : Jobs, crackdowns and a fork
RE
12:53aUK Nears New Trade Agreement With New Zealand Following Brexit
MT
07/31UK 'closing in' on free trade agreement with New Zealand
RE
SummaryQuotesChartsNews 
SummaryMost relevantAll NewsOther languagesMarketScreener Strategies

Sterling falls against strengthening dollar, back below $1.39

06/22/2021 | 04:27am EDT

* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv

LONDON, June 22 (Reuters) - Sterling fell back below $1.39 on Tuesday as the dollar picked up in early trading, but the British currency was still above the two-month lows it reached on Monday after the Fed's hawkish shift.

The U.S. Federal Reserve surprised some market participants last week by signalling that it would raise interest rates and end emergency bond-buying sooner than expected - prompting the dollar to rise and riskier currencies to lose out.

The pound hit a two-month low of $1.37865 early on Monday, recovered later in the session, then dipped back down again on Tuesday, down 0.3% at $1.38965 at 0745 GMT.

Versus the euro, it was down 0.2% at 85.70 pence per euro, still trading within recent ranges.

Speculators increased their net long position on the pound versus the dollar in the week to June 15, CFTC data showed.

Investors are focused on the UK's reopening plans, after the full easing of lockdown was delayed by a month due to the more infectious Delta variant of COVID-19.

British Health Minister Matt Hancock suggested on Tuesday that England's lockdown could fully end as planned on July 19 because a recent rise in cases is not resulting in deaths.

"Although the pandemic is far from over, and potential new variants that render the current generation of vaccines ineffective present a serious risk, recent virus and vaccine developments support our positive economic outlook for the UK and other advanced economies," Kallum Pickering, senior economist at Berenberg wrote in a note to clients.

Also in focus is the Bank of England meeting on Thursday. Analysts expect no changes to policy after the BoE last month said it would slightly slow the weekly pace of its bond purchases.

"There is a strong correlation between GBP/USD and the direction of travel in interest rate expectations so any change in the BoE’s language or guidance, along the lines of the Federal Reserve will be able to help GBP recover, at least against the dollar," Geoff Yu, senior EMEA market strategist at BNY Mellon, wrote in a note to clients.

(Reporting by Elizabeth Howcroft; editing by Philippa Fletcher)


ę Reuters 2021
All news about EURO / BRITISH POUND (EUR/GBP)
01:26aTAKE FIVE : Jobs, crackdowns and a fork
RE
12:53aUK Nears New Trade Agreement With New Zealand Following Brexit
MT
07/31UK 'closing in' on free trade agreement with New Zealand
RE
07/30Sterling Gains 0.51% to $1.3901 -- Data Talk
DJ
07/30FTSE 100 Index Ends the Month 0.07% Lower at 7032.30 -- Data Talk
DJ
07/30London Shares End Month With Mixed Results
DJ
07/30As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europ..
RE
07/30Pound heads for best week in 2021 as COVID concerns ease
RE
07/30DJ INDUSTRIAL : US Dollar Remains Depressed Early Friday; FOMC Impact Still Ling..
MT
07/30London Shares Drop as Miners, Oil, Airlines, Intertek Fall
DJ
More news
Chart EURO / BRITISH POUND (EUR/GBP)
Duration : Period :
Euro / British Pound (EUR/GBP) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EURO / BRITISH POUND (EUR/GBP)
Short TermMid-TermLong Term
TrendsBearishNeutralBearish