Pound declines – Latest YouGov poll shows no majority election win


Pound declines – Latest YouGov poll shows no majority election win

The British pound dropped today after a new poll found that British Prime Minister Theresa May’s Conservative Party risks falling short of an overall majority in the June 8 national election. New constituency-by-constituency modeling by YouGov showed the Conservative Party might lose 20 of the 330 seats it holds while the opposition Labour Party could […]

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UK GDP grows at slowest pace in a year

Britain’s economy slowed more than previously thought in the first three months of 2017 as rising inflation boosted by last year’s Brexit vote took a toll on household spending, official figures showed on Thursday. Just two weeks before Britons go to the polls in an early election called by Prime Minister Theresa May, the Office […]

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Pound breaks 1.30 against USD again

Sterling was set for a 1 percent weekly gain versus the dollar today although some investors were calling a top on the British currency, which climbed above $1.30 this week but is seen vulnerable to Brexit negotiations. The pound surged to an eight-month high of $1.3048 after strong retail sales figures on Thursday, losing momentum […]

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UK Retail Sales Soar in April

British shoppers set aside their concerns about fast-rising inflation following last year’s Brexit vote and unexpectedly stepped up spending at the fastest rate in years, helped by fine weather, official data showed this morning. The figures suggest that – at least temporarily – consumers’ mood has become more upbeat in the run-up to a national […]

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UK Jobs data moves the markets

British pay growth lagged inflation for the first time in two-and-a-half years in early 2017, underscoring the growing Brexit squeeze facing many households, official data showed this morning. Excluding bonuses, earnings rose by 2.1 percent year-on-year, the weakest increase since July of last year and below expectations for a 2.2 percent rise in a poll […]

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Inflation shoots to highest since 2013

British inflation rose to its highest level since September 2013 last month, according to official data released half hour ago – that underlined a growing squeeze on households ahead of the June 8 national election. Consumer prices increased in April by 2.7 percent compared with a year earlier, the Office for National Statistics said, slightly […]

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UK Data this week could weaken Sterling further

Sterling rose towards $1.30 again today, with figures showing that speculators have cut bearish bets on the currency by the most in more than a year and the third most on record. The overwhelmingly negative view on the pound dominating foreign exchange markets since the Brexit referendum in June last year has abated since British […]

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Poor day for Sterling on Thursday

Sterling fell to a one-week low against the dollar after the Bank of England’s inflation report showed interest rates were unlikely to rise within the next two years. Although the BoE said it might need to raise rates before the late 2019 date market pricing indicated, that was nine months later than its February forecasts […]

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All eyes on BoE meeting this afternoon

Sterling remained below seven-month highs against the dollar this morning, as investors waited for UK economic data and a Bank of England interest rate decision and inflation report due later in the day, neither of which is expected to indicate a change in bank policy. A quieting of global market volatility and developments on its […]

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Sterling bounces this morning

Sterling hit a three-week high versus the euro and climbed towards $1.30 on Wednesday as traders awaited this week’s Bank of England inflation report and policy meeting. Sterling’s rise since Prime Minister Theresa May called a snap election last month should help limit a surge in British inflation this year although it will still sail […]

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