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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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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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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Sterling Continues Gaining

The British currency rose half a percent and neared $1.30 after data showed British workers’ pay grew at the fastest pace in over 10 years. The figures encouraged traders, who believe that a disorderly no-deal Brexit can be avoided, to buy the pound. But with little time left until Britain leaves the EU on March […]

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‘No Deal’ Brexit Unlikely

The British pound rose to a two-month high against the euro, extending recent gains on growing expectations Britain can avoid a no-deal withdrawal from the European Union. Talk of a second referendum vote in the UK sparked a rally in afternoon trade which further lifted the currency. Prime Minister Theresa May has been meeting lawmakers […]

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