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UK Construction unexpectedly up – No effect on the rates!

Britain’s construction output bounced back more than expected in April following surprisingly upbeat industrial data earlier this week, suggesting the economy might have started the second quarter on a firmer footing. The Office for National Statistics said construction output, which makes up 6 percent of the economy, rose 2.5 percent in April after a 3.6 […]

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Sterling slips due to new poll

Sterling slipped this morning as investors ditched riskier assets in favour of safe havens such as the yen, worrying that Britain will vote to leave the European Union in a referendum in two weeks’ time. While it has recovered from lows hit earlier this year, up 3 percent on a trade-weighted basis in the past […]

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Sterling briefly gained on strong industrial data

Sterling rose briefly to hit this morning’s high after data showed industrial output in Britain grew at its fastest pace in nearly four years in April, beating forecasts and wrong-footing investors who had positioned for a weak number. It gave up those gains quickly as growing uncertainty about whether Britain will remain in the European […]

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Sterling drops as “Leave” campaign leads

Sterling trade-weighted index fell 1 percent to hit a three-week low today, while the cost of hedging against swings over the coming month traded at its highest since late 2008 on growing concerns over whether Britain will stay in the European Union. Polling firm TNS said on Monday that the campaign to get Britain out […]

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Brexit worries hit Sterling value

Sterling was subdued this morning, shrugging aside better-than-expected services sector data and staying on track for its worst weekly performance since late March on worries about Britain’s future in the European Union. Services activity index rose to 53.5 in May from 52.3 in April. That was stronger than the median forecast of 52.5 in a […]

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Sterling at two-week low

Sterling hovered above a two-week low against a basket of currencies this morning, while the cost of hedging against swings over the next month traded near its highest since 2009 on concerns over whether Britain will stay in the European Union. Construction sector survey release9 at 0930 GMT slowed to 51.2 from an expectation of […]

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Latest polls damage Sterling

Sterling slipped this morning, while the cost of hedging against sharp falls in the exchange rate over the next month rose to its highest in over seven years on worries that the campaign for Britain to leave the European Union was gaining the upper hand. Two surveys by polling firm ICM on Tuesday showed British […]

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Pressure of Brexit hurts Sterling

Sterling eased on Tuesday, hurt by month-end selling and after a poll showed support for those who want to stay in European Union dropping, adding to growing uncertainty about next month’s referendum. An ORB poll for the Daily Telegraph showed support for Britain to stay in the European Union was at 51 percent, five points […]

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Great week for Sterling

Sterling steadied this morning, closing off a week of solid gains built up on the growing belief that Britons will vote to remain in the European Union at next month’s referendum, thereby avoiding market volatility that would damage the pound. A series of polls this week has pointed to the “Remain” camp opening up a […]

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UK GDP as expected

Business investment in Britain fell in annual terms for the first time in three years in the first quarter amid uncertainty around a vote on the country’s European Union membership. The Office for National Statistics confirmed the economy slowed in the January-March period, rising by a quarterly 0.4 percent as expected in a poll, and […]

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