Big week Ahead For Brexit


Big week Ahead For Brexit

The pound in early London trading today as investors grow increasingly concerned that Britain and the European Union were no closer to agreeing a Brexit withdrawal deal. British lawmakers have passed a law requiring Prime Minister Boris Johnson to seek a delay to Brexit if the UK cannot agree a withdrawal deal by Oct. 19. […]

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Boris to try and call a snap election today

Boris Johnson will try to call a snap election today after lawmakers seeking to prevent him taking Britain out of the European Union without a divorce deal dealt him a humbling parliamentary defeat. Parliament’s move leaves Brexit up in the air, with possible outcomes ranging from a turbulent no-deal exit to abandoning the whole thing […]

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Merkel Comments Give Brief Hope

Sterling briefly jumped yesterday afternoon after German chancellor Angela Merkel said the European Union would think about practical solutions to the backstop, an agreed insurance policy for the Irish border that London wants scrapped. Prime Minister Boris Johnson’s demand that the EU reopen the Brexit divorce deal was rebuffed by the bloc. The deal includes […]

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Sterling Continues Small Gains

The pound gained for a second consecutive day today after a stream of resilient economic data this week calmed sentiment on the health of the UK economy and as opposition parties launched plans to block a no-deal Brexit. British retail sales unexpectedly expanded in July and signalled that consumers were taking the prospect of Brexit […]

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Market Update

The pound edged higher after inflation picked up in July, but the currency held within sight of a two-and-a-half year low as brewing concerns about a no-deal Brexit weighed on investor sentiment. The consumer price index rose 2.1% year-on-year in July from 2% in June, above a Reuters poll forecast of a 1.9% increase. The […]

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UK Inflation Rises

Annual consumer price inflation rose to a three-month high of 2.1% in July from 2.0% in June, the Office for National Statistics said, bucking the average expectation in a Reuters poll of economists for a fall to 1.9%. Earlier this month the BoE predicted consumer price inflation would fall to a three-year low below 1.6% […]

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Snap Election Fears Hit Sterling

Sterling has strengthened against the euro this morning after some volatile trading over the weekend. In overnight trade on Friday into Saturday, the pound pushed towards 1.06 against the euro. We’ve seen a rapid decline in the pound in the last three months. In early May, it was trading above 1.17. UK data this week, […]

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Recession Fears Rise – UK Economy Shrinks 0.2%

The pound had started the day pretty settled after Thursday’s drop on the back of senior aides of Prime Minister Boris Johnson saying they would hold a parliamentary election in the days after Brexit if lawmakers sink the government with a no-confidence vote. Analysts say the election talk will weigh on the pound today because […]

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Sterling Hits 23 Month Low Overnight

The British pound holds above recent lows this morning although it remained vulnerable as traders still worry that Britain is headed for a no-deal Brexit. Sterling hit a new 23-month low against the euro overnight, with the losses largely down to strength in the single currency rather than more Brexit-related worries. The Guardian newspaper reported […]

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No Deal Possibility Weighs On Sterling

Sterling plunged to a 23-month low against the euro and near a 31-month low versus the dollar this morning as fears of a disorderly Brexit grew. After the by-election victory for the Liberal Democrats in Brecon and Radnorshire last week, the Conservative party has been left with a majority of just one seat in parliament, […]

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