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Pound gains across the board this morning

Sterling held firm this morning, having recorded its best month of gains against the dollar since March and its best month against the euro since 2009. This morning the Purchasing Managers Index dipped to a four-month low of 53.4 from 54.2 in October, remaining above the 50-mark dividing expansion from contraction. Economists had forecast a […]

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UK Consumer confidence falls

  • Posted by Shyam Gokani in Uncategorised
  • November 30, 2016
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Sterling steadied in the middle of a 3-cent range it has held for most of the past month this morning. Confidence among British consumers fell in November to its lowest level since just after voters decided in June to leave the European Union, the regular survey by market research firm GfK showed today. Investors were […]

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Sterling falls as euro gains ahead of Draghi speech

  • Posted by Shyam Gokani in Uncategorised
  • November 28, 2016
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Sterling touched a two-week high against the dollar but slid back against the euro this morning, with the day’s focus likely to be European Central Bank chief Mario Draghi’s testimony in the European Parliament. With 10 days until a policy meeting long expected to signal the pace of quantitative easing next year, Draghi’s comments have […]

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Budget drives sterling higher

Sterling surged to a 10-week high against the euro and resisted the dramatic falls against the dollar suffered by other major currencies after a UK budget read as doing more than had been expected to bolster growth in years to come. At the heart of the sterling rally was a rocketing of long-dated gilt yields […]

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Pound boosted by PM comments

  • Posted by Shyam Gokani in Uncategorised
  • November 22, 2016
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Sterling surged more than a cent against the dollar yesterday and to its highest since early September versus the euro as the market processed Prime Minister Theresa May’s latest hints on the possible shape of Britain’s exit from the European Union. Speaking to business leaders on Monday, May pledged to address concerns that Britain could […]

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Pound boosts after positive Retail Sales this morning

British retail sales surged in October, as colder weather boosted clothing sales and supermarkets cashed in from Halloween, lifting annual sales growth to its highest in more than 14 years. This morning; official data reinforce the robust picture of health given by British consumers since June’s vote to leave the European Union, even if the […]

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US Election day today – Volatility in the Dollar expected

  • Posted by Shyam Gokani in Uncategorised
  • November 8, 2016
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Sterling rose this morning in early trade against a nervous dollar as the perceived status quo candidate Hillary Clinton and Donald Trump approached the finishing line in a tight presidential election race. The pound rebounded 0.3 percent, having lost ground on Monday when the dollar surged on a polling boost for Democrat Clinton after the […]

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Dollar should strengthen due to US Election

  • Posted by Shyam Gokani in Uncategorised
  • November 7, 2016
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Sterling fell more than 1 percent this morning against a resurgent dollar, which rebounded on news that Hillary Clinton would not face criminal charges over her private e-mail server, boosting her chances on the eve of the U.S. presidential vote. If there still is the perception that the UK may after all be faced with […]

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Sterling gains due to high court hearing

  • Posted by Shyam Gokani in Uncategorised
  • November 4, 2016
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Sterling traded close to a four-week high today and was heading for its best week since March, having jumped after England’s High Court put a spanner in the government’s plans to forge ahead with Britain’s exit from the European Union. The battered pound has clawed back 2.5 percent against the dollar this week, with yesterday’s […]

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UK Economic data strong – Pound stays weak due to Brexit

Sterling hit a two-week high against a dollar weakened by worries about the U.S. presidential election next Wednesday, as investors waited for construction sector data for the latest clues on the health of the British economy. The battered pound has recovered almost 1 percent this week, boosted by the news that Bank of England Governor […]

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