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Sterling declines against the Dollar & Euro

  • Posted by Shyam Gokani in Uncategorised
  • October 17, 2016
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Sterling is below $1.22 this morning and weakened against the euro, hurt by rising gilt yields and media reports of disagreements between the Chancellor and his cabinet colleagues over the terms of Britain’s exit from the EU. The Daily Telegraph said Phillip Hammond could quit his post after he was excluded from government meetings because […]

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Sterling drops due to high court legal bid

  • Posted by Shyam Gokani in Uncategorised
  • October 13, 2016
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Sterling was near a record low in trade-weighted terms yesterday as focus turned to the High Court which will hear a legal bid to force the British government to seek parliamentary approval to trigger the formal Brexit process. After a steep sell-off in the last two weeks caused by uncertainty over Brexit, the pound surged […]

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Sterling slightly gains

  • Posted by Shyam Gokani in Uncategorised
  • October 12, 2016
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The recently buoyant dollar came under pressure in Asian trading on last night, as sterling partially rebounded from its dramatic losses in the previous session. The pound was up 1.5 percent at $1.2301, after tumbling as low as $1.2086 on Tuesday, heading towards a 31-year low of $1.1450 hit on Friday as investors feared the […]

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Fresh lows for the pound today

  • Posted by Shyam Gokani in Uncategorised
  • October 11, 2016
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Sterling fell back below $1.23 on Tuesday, trading down 0.6 percent on day as it continued to suffer from concerns about the economic fallout of Britain’s planned exit from the European Union. Trade-weighted sterling hit a nearly-eight-year low of 74.0 at the Bank of England’s first morning print of the index, which measures the pound’s […]

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Sterling losses continue

  • Posted by Shyam Gokani in Uncategorised
  • October 10, 2016
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Sterling’s trade-weighted index fell to its lowest since early 2009 this morning, extending hefty losses seen last week, on deepening worry about an adverse impact on the British economy from its exit from the European Union. The currency was slightly calmer than Friday when a “flash-crash” wiped out a tenth of its value in a […]

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Pound has futher room to drop

Britain’s pound dipped below $1.27 for the first time since June 1985 yesterday, with fears of a ‘hard’ Brexit from the European Union also pushing the currency to a five-year trough against a broadly stronger euro. Sterling has been buffeted for a fortnight by worries that Britain will prioritise curbing immigration over promoting trade in […]

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Pound crashes to 31 year low

  • Posted by Shyam Gokani in Uncategorised
  • October 5, 2016
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A three-day decline in the pound after U.K. Prime Minister Theresa May set a date to start the process of leaving the European Union has left sterling trading at its weakest level versus the euro since 2011. The pound reached a 31-year low versus the dollar amid concern Britain is headed for a so-called hard […]

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Pound plummets on brexit news

  • Posted by Shyam Gokani in Uncategorised
  • October 4, 2016
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Sterling slid to its lowest in more than three decades against the dollar on Tuesday, on growing fears that Britain’s looming departure from the European Union will hit the economy. Sterling had skidded more than 1 percent on Monday on the back of Prime Minister Theresa May’s announcement a day earlier that the formal process […]

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Sterling drops after May’s Brexit comments this weekend

Sterling slid to a three-year low against the euro and a three-month low versus the dollar this morning, after a March deadline was set for the start of the formal process that will split Britain from the European Union. Britain’s Prime Minister Theresa May told her Conservative party’s annual conference on Sunday that she was […]

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UK Mortgage approvals drop off

  • Posted by Shyam Gokani in Uncategorised
  • September 29, 2016
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British mortgage approvals fell to their lowest level since November 2014 last month as the housing market continued to slow after June’s vote to leave the European Union, Bank of England data showed this morning. The BoE figures also showed lending to consumers continued to grow rapidly, expanding at a rate close to the 10-year […]

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