- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- January 17, 2018
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The dollar moved higher against a basket of currencies this morning as the euro paused after having rallied to more than three-year highs overnight amid growing expectations that the European Central Bank will scale back stimulus this year.
Prime Minister Theresa May’s Conservative Party urged MPs to back the government’s Brexit legislation at a vote in parliament later today, warning opponents that trying to block the plan would bring chaos.
The European Union (Withdrawal) Bill is set to complete its first journey through parliament’s lower house sometime after 1900 GMT, a milestone on the long road towards cementing the legal foundations of Brexit.
No Key UK data is due today, therefore, Sterling movements will be due to general trading. Tomorrow we have no data either and Friday we have UK retail sales data which is expected to be up due to the festive season.