Hammond Comments Boost Sterling


Hammond Comments Boost Sterling

Sterling rose to the day’s high after British Chancellor of the Exchequer Philip Hammond said this morning the possibility of a no-deal Brexit is leading lawmakers to reconsider backing the Brexit deal. British lawmakers could be given a vote on a revised Brexit deal as early as next week as talks with the European Union […]

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Pound Gains

Sterling shot past $1.30 on hopes that Prime Minister Theresa May will make progress in seeking changes to her Brexit deal with the European Union, although some traders struggled to explain the size of the move. After edging higher for much of the day, the pound then jumped in late European trading – rising almost […]

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UK Wage Data Strong

UK pay growth held at its fastest pace in a decade in late 2018 and job creation remained strong, official figures showed this morning, suggesting the labour market was staying buoyant ahead of Brexit. Total earnings, including bonuses, rose by an annual 3.4 percent in the three months to December, remaining at its fastest pace […]

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UK GDP worst since 2012

Britain’s economy slowed as expected in the final three months of last year, pushing growth in 2018 to its weakest in six years, as Brexit worries hammered investment into the UK. Gross domestic product growth in the final quarter of 2018 fell to a quarterly rate of 0.2 percent from 0.6 percent in the previous […]

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BOE sees weakest outlook since 2009

The pound has been volatile this week. It fell further yesterday after the BoE kept interest rates on hold and then strengthened when the central bank said rates will rise if an EU divorce deal is done. That was seen as somewhat hawkish a time when other major central banks have said they will hold […]

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Brexit Chaos Weighs On Sterling

The pound has fallen fell below $1.29 for the first time in more than two weeks as dollar strength prompted traders to move to the side lines before a central bank meeting and growing Brexit uncertainty. With a Brexit deal still not in the bag, the Bank of England’s rate-setters are expected to vote unanimously […]

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Dollar Weakens After Fed Meeting

The pound steadied this morning as Britain prepared to resume negotiations with the European Union over how to resolve the issue of Irish border arrangements after Brexit. Sterling has strengthened 4 percent this year due to a weaker dollar and expectations that Britain can avoid a no-deal Brexit. Even if May returns from Brussels empty-handed, […]

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Pound Gains After Overnight Losses

Sterling gained again this morning after declines triggered by the UK parliament’s rejection of amendments to delay Brexit, as investors bet the government would still avoid exiting the European Union without an agreed trade deal in place. The pound fell 0.7 percent on Tuesday after lawmakers voted to demand Prime Minister Theresa May renegotiate the […]

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Cooper Amendment Expected To Pass

Sterling held well at multi-month highs against the euro and dollar as traders weighed up whether lawmakers would back a key parliamentary amendment that would effectively take a no-deal Brexit off the table. The UK parliament will debate and vote later in the day on Prime Minister Theresa May’s response to the overwhelming rejection of […]

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Sterling Holds On To Gains Ahead Of Vote

The pound drifted lower this morning after posting its biggest weekly rise in more than 15 months last week as investors consolidated positions before crucial votes in the British parliament that will aim to break a Brexit deadlock. Lawmakers earlier this month rejected Prime Minister Theresa May’s EU withdrawal agreement, which included a nearly two-year […]

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