Chancellor delivers the Spring Statement

It’s been another week of not particularly positive news this week. 

The war in Ukraine continues to dominate the headlines. Yesterday marked the bleak milestone of the war passing into its second month.

It was a big week in the UK which saw the Chancellor deliver his spring statement. 

The speech saw him simultaneously take with one hand and give back with the other, leaving many unsure of what the actual financial implications will be. 

It was all marred by the recently released inflation figures, showing it now being at the highest level in 30 years, hitting 6.2%. 

It is now expected that within the next few months inflation will hit 8%.

Against the Dollar, Sterling has stayed pretty much flat with very little movement. It is the same picture in Sterling-Euro and Euro-Dollar.

In the US there was some good news, recently released figures showed that unemployment was down to its lowest rate since 1969!

In some positive news, a brand new species of frogs have been discovered in Ecuador whose skin is 100% transparent!

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A summer of discontent?

A summer of discontent?

The biggest news this week came yesterday when the ONS released data showing that inflation had gone up once again in the UK. It is now sitting at a 40-year high of 9.1%. (The last time inflation was this high, Margaret Thatcher was Prime Minister and Charles and Diana had…

A turbulent week for the UK economy

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It’s been another difficult week for the UK economy. Figures released this week showed that in April, the UK economy shrank by 0.3%, following on from the 0.1% contraction in March. This has led to a number of influential figures including a former Chancellor suggesting the UK was almost certainly…

Westminster wrangling distracts from ongoing economic woes

Westminster wrangling distracts from ongoing economic woes

The ongoing cost of living crisis and domestic politics have dominated the agenda this week in the UK. The bunting from last weekend’s spectacular Platinum Jubilee Celebrations hadn’t even been packed away before the news was out that the Prime Minister would face a vote of no confidence on Monday.…

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Sonny Hellmers

Senior currency specialist