Pound slips on the back of weak UK manufacturing data


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 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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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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Poor UK Retail Sales hits Sterling this morning

British retail sales suffered their sharpest monthly fall in six months in June, with officials citing poor weather hurting clothing sales rather than any impact from the vote to leave the European Union. Retailers had not reported any anecdotal evidence of the unexpected result of the June 23 referendum affecting sales during the five-week period […]

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Strong UK wage & Unemployment data this morning

According to the latest release from the Office for National Statistics, the UK jobless rate improved from 5.0% to 4.9%, while the jobless claims change ticked lower from 12,200 to 400. In addition, average weekly earnings excluding bonuses decelerated slightly to 2.2% from the 2.3% booked previously, while the gauge including bonuses jumped to 2.3% […]

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Sterling stays firm

Sterling rose on Monday, boosted by expectations of inflows from an acquisition deal after Japan’s Softbank agreed to buy chip designer ARM in a 24.3-billion-pound deal which should help plug Britain’s yawning current account gap. The pound extended gains after Bank of England policymaker Martin Weale said he was unsure if he would back an […]

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Sterling on the up – for now!

Sterling was firmer this morning, trading near a two-week high against the euro as Theresa May was set to take over as Britain’s prime minister, easing some of the political uncertainty that has dogged the currency in the past few weeks. Traders will keep an eye on who will be appointed as finance minister with […]

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Sterling steadies after May appointment

Sterling rose along with UK government bond yields today as the early appointing of interior affairs minister Theresa May as prime minister fed into a generally improved global mood among financial investors. The 1.2 percent rise in the pound against the dollar put it on track for its biggest daily rise since Britain’s vote to […]

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