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Sterling back up over 1.30 against the Dollar

  • Posted by Shyam Gokani in Uncategorised
  • August 10, 2016
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Sterling back above $1.30 this morning, a day after hitting a one-month low, as a broadly weaker greenback offset worries about falling gilt yields and a shortfall in the Bank of England’s first round of new purchases of government debt. After a week in which sterling has suffered from the BoE’s aggressive moves to ease […]

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Pound slips on the back of weak UK manufacturing data

British industrial output grew at the fastest rate since 1999 in the second quarter of this year, with “very few” respondents reporting an impact from uncertainty around June 23’s vote to leave the European Union. However, official figures showed Britain’s trade deficit surged in June, with the economy sucking in a record amount of imports […]

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Sterling weakens further against the dollar

Sterling traded near its weakest in three weeks against the dollar this morning, hurt by widening rate differentials between the United States and the UK after robust jobs numbers strengthened speculation of a rate hike by the Federal Reserve. In contrast, the Bank of England kick started its quantitative easing programme today, having lowered interest […]

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Sterling drops due to rate cut and QE Programme

  • Posted by Shyam Gokani in Uncategorised
  • August 5, 2016
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Sterling steadied this morning, recovering just over 0.2 percent against both the dollar and euro after the Bank of England drove its biggest daily losses in a month with a package of new stimulus for Britain’s slowing economy. The Bank’s cuts in its growth forecasts for next year and its hints of more easing to […]

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Weak PMI data in the UK today

  • Posted by Shyam Gokani in Uncategorised
  • August 3, 2016
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Sterling retreated from a three-week high against the dollar today ahead of the third and most important of a batch of purchasing manager surveys that offer the best clues so far of the blow to the economy from June’s Brexit vote. GBP Markit/CIPS UK Services PMI     47.4     47.4     47.4 GBP Markit/CIPS UK Composite PMI 47.5     […]

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Sterling could drop further this Thursday

The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. However, the result was better than all forecasts in a poll of economists. The numbers nevertheless provide another sign that Britain’s economy is at risk of recession after June’s vote to leave […]

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UK expected to cut rates next Thursday

  • Posted by Shyam Gokani in Uncategorised
  • July 29, 2016
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Sterling inched up against the dollar this morning, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more […]

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Sterling falls against the Euro

  • Posted by Shyam Gokani in Uncategorised
  • July 28, 2016
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Sterling fell more than half a percent against a broadly stronger euro today, 3,000 job cuts at British bank Lloyds underlining concerns that the UK economic outlook will only worsen in the months ahead following June’s Brexit vote. Minds are already turning to next week’s Bank of England meeting, which is widely expected to cut […]

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Sterling looses ground after Martin Weale comments

Sterling hit a two-week low on Tuesday after a Bank of England policymaker suggested a batch of weak UK data had convinced him monetary policy should be eased immediately, having last week said he needed more evidence of economic weakness first. While stopping short of openly backing a cut in interest rates or quantitative easing […]

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Sterling slightly up this morning

Sterling inched up today, recovering some of the ground it lost late last week from surveys suggesting Britain was heading towards recession and boosting expectations the Bank of England will have to stimulate growth next month. Sterling was up 0.2 percent at $1.3140, having fallen nearly 1 percent on Friday. The euro, also was 0.3 […]

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