Sterling posted robust gains on major crosses on Monday, in part due to a weaker dollar as traders pondered whether US President Donald Trump can deliver on his promises and also as some in the market believe sterling may be undervalued after the UK's Brexit vote in 2016.
Gold surged on Monday afternoon as traders rattled by US President Donald Trump's failure to get his Healthcare Bill passed in Congress on Friday sparked a rush away from the dollar to safe-haven assets such as the yellow metal.
Sterling turned in a downcast Friday performance as it slipped on most key pairs, with global markets drifting as US President Donald Trump's Healthcare Bill goes to a congressional vote, and ahead of UK formally beginning its EU-exit talks next week.
Crude-oil futures traded essentially sideways ahead of Opec's meeting on Sunday, with traders already nervous about the global glut of the black liquid looking for a further production-cut pledge from the cartel.
Sterling ticked higher on most major crosses Thursday thanks to better-than-expected UK retail sales figures for February, with rising inflation and a possible Bank of England (BoE) interest rate hike lurking in the background.
Gold was pricing a snip higher on Thursday afternoon with present risk aversion in the market potentially able to lift the nil-yielding precious metal higher in the short term.
Sterling plugged away to achieve a mixed out-turn on major crosses Wednesday, but did manage to craft minor gains against both the US dollar and euro even as its inflation supercharge ebbed from Tuesday.
Crude-oil futures are strongly lower Wednesday afternoon in the aftermath of two separate reports -- one this afternoon and the other last night -- that again showed rising US stocks of the black liquid.
Sterling opened the throttle Tuesday to drive higher against a raft of currencies and recoup some of its Brexit-induced weakness, this surge lamentably on the back of a shock acceleration in UK inflation that will hit consumers in the wallet.
Crude-oil futures are down heavily Tuesday as markets look to an expected rise in American Petroleum Institute's weekly stockpile figures out later tonight, with traders taking a view that the black liquid's price may yet fall further.
Sterling had a tough time on key crosses Monday after PM Theresa May's office said Article 50 will be triggered on 29 March, beginning UK's divorce from the EU and ushering in a new era of punishment for the already threadbare currency.
Crude-oil futures are firmly down Monday afternoon with markets increasingly uneasy about cartel Opec's ability to control prices amid a global supply glut and US shale output.
Sterling plugged its way through a Friday session of malaise as transatlantic and European traders took pause after this week's excitement around interest-rate decisions by the central banks of the UK and the US.
Commodities futures traded broadly sideways with mildly positive biases on Friday, as gold struggled to bust through resistance at the $1,231 per ounce level after its Federal Reserve rate hike-inspired dash higher on Thursday.
Crude-oil futures bucked higher on Wednesday and off three-month lows on news of a surprise draw in US stores of the black liquid, while gold bears priced the yellow metal lower ahead of the US Federal Reserve's expected interest-rate lift this evening.
Sterling was under siege on Tuesday evening as a bitter cocktail of Brexit worries, renewed calls for Scotland and Northern Ireland independence votes and the prospect of a US Federal Reserve rate hike on Wednesday all told.
Both grades of crude-oil futures dived on Tuesday, with West Texas Intermediate slip-sliding through key support as major oil producer Saudi Arabia revealed it has pumped more in February.
The pound fell to an eight-week low against the dollar on Tuesday after the UK parliament approved the government's plan to start the process of leaving the European Union.
Sterling turned in a positive performance on key crosses against a potentially volatile political-economic fabric this week of Brexit, a possible Scotland independence ballot and rate calls by the UK and US central banks.
Crude-oil futures are trading off their early session lows to be mildly mixed late in the afternoon, thanks to a Kuwait official confirming Opec members' increasing compliance with output pledges made last year to ease global oversupply.