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Support for the pound weakened yesterday in the wake of a sharp decline in the GfK consumer confidence index.
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Support for the pound weakened yesterday in the wake of a sharp decline in the GfK consumer confidence index.
A downward revision to the finalised UK services PMI for March left the pound on a weaker footing heading into the weekend.
The pound maintained its upward trajectory on Thursday, with the currency extending its rally into its sixth consecutive session.
The Pound moved higher on Wednesday, with the UK currency extending its rally into its fifth consecutive session and striking a two-week high.
As the Bank of England (BoE) opted to leave interest rates on hold at their official March meeting the mood towards the pound picked up.
The pound came under pressure yesterday as Boris Johnson announced strict new quarantine measures in an effort to stop the spread of the coronavirus.
Following the Bank of England’s (BoE) surprise decision to cut interest rates to a fresh low of 0.1% the mood towards the pound widely improved.