The British Pound underperformed most of its peers amid the continuing string of negative data, staying relatively unchanged only against the Euro and the Swiss Franc, as demand for the former was depressed as a result of disappointing German inflation figure.
On the first working day of the New Year, the bullion used to be the second-best performer among all main commodities on the market.
On Friday of the previous week, the single European currency recovered versus the majority its counterparts, even though overall daily changes were rather small.
After performing poorly on Wednesday the US Dollar outperformed all of its major counterparts, jumping 1.65% versus Sterling and 1.50% versus loonie, even though the fundamentals did not favour the currency.
The British Pound was Friday's worst performer, losing nearly 1.7% against the best performer, the US Dollar, and 0.19% aganst the second worst performer - Canadian Dollar, as the market reevaluated the probability of the 2015 rate hike by the Bank of England and the fundamental news surprised to the downside.
The US Dollar was the worst performer of Thursday behind the New Zealand Dollar, though we must note the depreciation was minimal, -0.12% versus the Aussie and -0.09% versus the loonie.
Understandably, yesterday's changes in the currency pairs were minimal.
On December 31, the bullion continued to be increasingly volatile for a fourth consecutive day, even despite New Year holidays, which usually decrease trading volumes.
On the last day of the year 2014, the single European currency slipped for a fourth consecutive day.
Although Tuesday's data revealed the US economy keeps recovering, the market turned out to be somewhat disappointed with the numbers and sold the US Dollar off.
Yesterday, the price of Gold increase substantially, as the yellow metal managed to gain 1.46% during the trading day, which is usually calm in terms of price movement due to Christmas and New Year holidays.
As yesterday's news were neither positive nor negative for the British Pound, the currency balanced between the gains and losses.
The single European currency has been losing value against other major currencies for a third consecutive day in a row.
Overall the Japanese Yen preserves the bearish momentum, as it is losing value against the majority of its counterparts.
On the first day of the new week, Gold was among those commodities to decrease in value, while the only performer to the upside used to be natural gas, which became 5.47% more expensive, judging from market prices.
On Monday, the Euro continued to underperform other major currencies on the foreign exchange market.
The British Pound was one of the poorest performers on Monday along with the Japanese Yen, Euro and Swiss Franc.
The Japanese was able to appreciate only relative to the Euro and the Swiss Franc, falling behind the rest of the majors after a series of disappointing news on Thursday.
The Great Britain Pound was able to ouperform some of its peers on Friday, gaining 0.39% against the Swiss Franc, 0.35 against the Euro and 0.22% against the Japanese Yen.
Last Friday, the bullion increased in price considerably, as it managed to advance 1.89% during the trading session at the end of the week.
During the last day of the previous working week, the single European currency declined against the vast majority of other currencies, while it only gained value of 0.02% in its pair with the Swiss franc.
Regardless of the unfavourable macroeconomic bacground the Japanese Yen was the most bullish currency among the majors.
As it turned out, the British Pound failed to capitalise on the positive news. The currency underperformed relative to all its major counterparts except for the US Dollar.
On Wednesday, the single European currency developed much more positively than it did several days before.