|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||36.13 - 37.50|
|52 Week Range||33.38 - 37.80|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
Depending on who you ask, you might hear that Britain is headed for technical recession with the pound sinking even more in value relative to the dollar – or that the country is poised for economic growth following Brexit.
The British pound (FXB) depreciated 0.95% against the US dollar (UUP) for the week ending June 15 and closed at 1.33. The pound took a backseat as the US and European central bank policy meetings dominated the forex space last week. British equity markets (BWX) posted the fourth consecutive weekly loss in the last 12 weeks, which reflected the global risk-off sentiment.
The British pound (FXB) depreciated against the US dollar (UUP) for the fifth week in the last six weeks as Brexit-related developments and a strengthening US dollar drove it lower. A series of weak economic data coupled with a dovish Bank of England (or BOE) have been causing the pound to slide compared to the US dollar. The economic data reported last week indicated that inflation had grown more slowly than expected, decreasing the possibility of a rate hike from the BOE.
The British pound (FXB) was unchanged against the US dollar (UUP) last week despite the dollar’s rally stalling, possibly due to the BOE’s (Bank of England) move to leave policy rates unchanged. British equity markets (BWX) are enjoying the pound’s weakness and have managed a seventh consecutive positive week, aided by continued positive momentum across global markets. According to the Commodity Futures Trading Commission’s May 11 commitment of traders report, speculators decreased their overall bullish positions on British pound (GBB) by 17,384 contracts last week, to 8,988 contracts from 26,372—the lowest level in two months.
The British pound (FXB) depreciated 1.8% against the US dollar (UUP) in April, and has depreciated 1.9% so far in May. Weak economic data, dovish statements from the BOE (Bank of England), and a strong US dollar contributed to the slide of the British pound (GBB). Manufacturing and service data published last week was below expectations, leading to a further decline in the pound. A May rate hike, which was largely accepted by markets until the recent turn of events, now seems less probable.
The British pound (FXB) depreciated by 1.66% against the US Dollar (UUP) for the week ending April 27. The pound (GBB) closed last week at 1.3780, compared to a close of 1.4004 for the week ending April 20. This is the second consecutive weekly loss for the British pound, as traders continued to react to the dovish statement from the Bank of England two weeks ago and last week’s softer GDP data accelerated the pound’s decline.
The British pound (FXB) depreciated 1.7% against the US Dollar (UUP) for the week ending April 20. The pound (GBB) closed the week ending April 20 at 1.40—compared to a close of 1.42 for the week ending April 13. Softer-than-expected retail sales, wage growth, and consumer prices dented investors’ confidence. Bank of England Governor Mark Carney gave a hint that the interest rates don’t need to be increased in May. Carney’s comments, weak data, and the strong US dollar led to the pound’s sharp depreciation the previous week.
The British pound (FXB) appreciated by 1.1% against the US dollar (UUP) in the week ended April 13. The rise of the British pound despite soft economic data was because of hawkish comments from the Bank of England, which is expected to increase interest rates soon. While British equity markets (BWX) were impacted by increased trade war concerns, indexes managed to close in positive territory for a third consecutive week.
Is a Perfect Storm Brewing for the Week Ahead? The British pound (FXB) appreciated 0.66% against the US dollar (UUP) for the week ending March 16. British equity markets (BWX) were impacted by increased concerns about global trade wars and closed lower last week.
The British pound (FXB) appreciated 0.32% against the US dollar (UUP) in the week ended March 9, 2018. The economic data released from the United Kingdom in the week indicated that the UK economy has been accelerating. Uncertainty surrounding Brexit negotiations has dampened the demand for the British pound, especially as we approach the next key Brexit date of March 22, 2018, when the spotlight will move to Brussels, where EU (European Union) leaders will meet to sign a transition Brexit deal.
Economic data releases were in line with expectations with average earnings increasing and jobless claims falling. Multiple Bank of England speakers sounded confident about the UK economy, leaving no reason for the British pound to lose value last week. British equity markets (BWX) were one of the few global indexes to post losses last week.
Is Volatility Set to Drop Further after Stock Market Rebound? The British pound (FXB) appreciated 1.5% against the US dollar (UUP) for the week ending February 16. Economic data reported from the UK in the previous week indicated that inflation remained higher at 3% in January and retail sales growth dropped to 0.1% as compared to the market expectation of 0.5%.
The British pound (FXB) depreciated by 2.0% against the US dollar (UUP) in the week ended February 9. This fall comes as a surprise because the Bank of England, in its monetary policy statement and quarterly inflation report, sounded hawkish about the economy. The reason for the tepid performance of the British pound was weaker-than-expected economic data indicating lower industrial production and trade activity, and risk-off trading boosting demand for the US dollar.
The British pound (FXB) posted its fifth consecutive weekly gain against the US dollar. For the week ended January 19, the British pound (GBB) closed against the US dollar (UUP) at 1.3852, appreciating by 0.90%. British equity markets (BWX) were supported by the prospect of a soft Brexit.
The British pound (FXB) had another positive week as it reached an 18-month high against the US dollar. For the week ended January 12, the British pound (GBB) closed against the US dollar (UUP) at 1.3729, appreciating by ~1.2%. The gains in the British pound were driven by the higher chances of a soft Brexit deal, which could see economic relations between the UK and the EU remain mostly unchanged.
The British pound (FXB) (GBB) continued to appreciate against the US dollar in the first week of 2018, rising 0.41% against the dollar (UUP). Comments from UK Chancellor Philip Hammond about the possibility of keeping the Customs Union with the European Union drove investors to increase the probability of a soft Brexit. With most of the bad news surrounding a Brexit being priced in, any positive development could continue to help the British pound appreciate further.
The International Monetary Fund (or IMF), in its October world economic outlook, downgraded its growth outlook for the United Kingdom.
The British pound (FXB) depreciated against the US dollar for the week ended September 29. The pound (GBB) posted a weekly close of 1.3397, depreciating by 0.71% against the US dollar (UUP).
The British pound is headed for its fourth weekly positive close in a row backed by the strong August inflation print and the hawkish statement from the Bank of England.