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Brexit worries continue to control the pound

  • Posted by Shyam Gokani in Uncategorised
  • September 27, 2016
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Fear of a “hard” Brexit that would see Britain lose access to Europe’s single market and erect tough barriers to immigration and trade kept sterling under pressure below $1.30 on Tuesday in a week short of an alternative domestic focus for markets. Scotland’s external affairs minister Fiona Hyslop was the latest to say on Monday […]

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Pound down against all currencies

  • Posted by Shyam Gokani in Uncategorised
  • September 26, 2016
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Sterling was weaker this morning, trading near a five-week low, as lingering worries over Britain’s exit from the European Union drove investors to sell the currency that has steadily lost ground in the past three straight weeks. Sterling was knocked down late on Thursday after British Foreign Secretary Boris Johnson said he expected formal divorce […]

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Sterling retracts after recent gains

  • Posted by Shyam Gokani in Uncategorised
  • September 23, 2016
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Sterling slipped back towards $1.30 today, ending the week in much the same place as it started, with worries over Britain’s exit from the European Union keeping pressure on the currency. The pound had jumped back over $1.31 yesterday afternoon, after Bank of England policymaker Kristen Forbes said she saw no case for a further […]

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Sterling bounces back

  • Posted by Shyam Gokani in Uncategorised
  • September 22, 2016
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Sterling rebounded from a five-week low against the dollar this morning, boosted by renewed weakness in the greenback after the Federal Reserve kept monetary policy steady and projected a less aggressive path for rate hikes in coming years. While the Fed strongly signalled it could tighten monetary policy by the end of the year, policymakers […]

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Sterling drops against the Euro again

  • Posted by Shyam Gokani in Uncategorised
  • September 20, 2016
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Sterling steadied against a broadly weaker dollar this morning, in the run-in to U.S. and Japanese central bank meetings that were taking the market’s focus temporarily off the latest concerns over the shape of Britain’s exit from the European Union. The pound had staged a modest recovery on Monday after slipping below $1.30 last week […]

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Sterling fights back after losses on Friday

Sterling rose against a weaker dollar this morning, although gains are still likely to be held in check by concerns about the uncertainty generated by Britain’s vote to leave the European Union and expectations of more interest rate cuts in coming months. The Bank of England kept rates at record lows on Thursday but signalled […]

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Sterling slips against Euro & Dollar

  • Posted by Shyam Gokani in Uncategorised
  • September 16, 2016
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Sterling slipped against the dollar and euro today and is on track for its worst week in five on a trade-weighted basis, as investors worried about Britain’s vote to leave the European Union and bet on another cut in interest rates this year. The Bank of England kept rates at their record lows at yesterday’s […]

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UK Retail Sales boost pound

  • Posted by Shyam Gokani in Uncategorised
  • September 15, 2016
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Sterling rose briefly on Thursday after data showed British retail sales fell at a much slower pace than expected in August, although expectations that the Bank of England is likely to look through the data and keep policy accommodative checked gains. Retail sales volumes edged down 0.2 percent on the month in August after jumping […]

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Sterling boosted by UK Jobs Data

  • Posted by Shyam Gokani in Uncategorised
  • September 14, 2016
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Sterling rose this morning, boosted by data that showed resilience in Britain’s labour market to fallout from June’s Brexit vote. The jobless rate in the three months to July was 4.9 percent, unchanged from the three months to June while the number of people in work rose by 174,000, the Office for National Statistics said. […]

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Uk Manufacturing drops, Carney due to speak

British manufacturing output fell in July at the fastest pace in a year, confirming earlier signs that factories took an immediate hit after the vote to leave the European Union, official data showed on this morning. Overall industrial output unexpectedly rose thanks to strong oil and gas production, the Office for National Statistics said. Output […]

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