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Sterling Fall Continues To Hurt UK Companies

Sterling’s sharp fall against the U.S. dollar and Euro since June’s Brexit vote has so far hurt almost as many exporters as it has aided, the British Chambers of Commerce said this morning. A cheaper currency normally helps exporters in the medium term, but the BCC said that currency weakness was proving a double-edged sword […]

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Sterling Slips For Second Day

Sterling fell another 0.4 percent this morning after a fall in a closely-watched services sector indicator reawakened concerns over the impact of last year’s Brexit vote on a previously resilient economy. The drop in the monthly index of service sector purchasing managers was its first since October and followed small drops in the construction and […]

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Sterling/Dollar Traded Above 1.27

Sterling rose to trade above $1.27 for the first time in seven weeks against the dollar, as investors awaited a Bank of England quarterly report that is expected to upgrade its growth and inflation forecasts. The central bank will probably try to avoid adding to speculation about a first interest rate hike in nearly a […]

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Sterling Continues To Gain Against A Weak Dollar

Sterling pounced on a wounded dollar today, as it recovered from disappointing consumer credit data to cap its best January since 2011. It was also set to be the pound’s first positive start to the year since 2012, but it was not without difficulties as it continued to struggle against the euro and the Swiss […]

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Majors Update

  • Posted by Shyam Gokani in Uncategorised
  • January 30, 2017
  • No Comments

The BoE is widely expected to revise up its short-term growth and inflation forecasts following reassuring recent UK data, but the uncertainty surrounding soon-to-start Brexit negotiations is expected to keep it cautious. Sterling was quickly down 0.3 percent against the dollar at $1.2510 in London, having slipped off a five-week high at the end of […]

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May Visits Trump

Prime Minister Theresa May called on President Donald Trump on Thursday to renew the “special relationship” between Britain and the United States and lead in a new, changed world. In the United States for what will be Trump’s first meeting with a foreign leader since he took office last week, May signaled a shift in […]

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UK GDP Better Than Forecast

Sterling hit a six-week high against the dollar and hit a three-week high against the euro this morning, This was after data showed Britain’s economy kept its robust momentum in the final three months of 2016, again wrong-footing expectations that the vote for Brexit would rapidly take a toll on growth. It is, however, still […]

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Sterling Continues To Push Against Majors

  • Posted by Shyam Gokani in Uncategorised
  • January 25, 2017
  • No Comments

Sterling continues gains against major currencies this morning, pausing after a rollercoaster ride yesterday that followed a Supreme Court ruling that Britain’s government must go through parliament before starting talks to quit the EU. The pound jumped to five-week highs on Tuesday after the first sections of the ruling were read, but was then hit […]

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May Must Get Parliament Approval For Brexit Negotiations

The Supreme Court ruled this morning that Prime Minister Theresa May must get parliament’s approval before she begins Britain’s formal exit from the European Union. The UK’s highest judicial body dismissed the government’s argument that May could simply use executive powers known as “royal prerogative” to invoke Article 50 of the EU’s Lisbon Treaty and […]

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Sterling Makes Biggest Gains This Morning

Sterling was the biggest gainer among developed-market currencies this morning, hitting a five-week high, as investors bet the Supreme Court would on Tuesday rule the British government needs parliamentary approval to trigger formal Brexit talks. British Prime Minister Theresa May has said she will trigger Article 50 of the EU’s Lisbon Treaty – the formal […]

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