Sterling Continues Small Gains


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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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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Market Update

The Bank of England (BoE) policymakers voted unanimously to leave interest rates unchanged at 0.75%. However, the bank slashed its growth forecasts amid the growing risk of a no-deal Brexit. The BoE downgraded it forecasts to 1.3% growth for both 2019 and 2020 providing the UK avoids a disorderly exit from the European Union. GBP […]

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Sterling Slips To 30 Month Lows

The dollar rose to a two-year peak against the euro as U.S. Federal Reserve Chairman Jerome Powell ruled out a lengthy easing cycle after delivering the first rate cut since the financial crisis. In a widely expected move, the U.S. central bank cut rates by 25 basis points to shore up the economy against risks […]

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Sterling Steadies After Week Of Big Losses

Sterling, which has tumbled for the whole week as investors rushed to factor in the possibility of Britain leaving the European Union without transition trade arrangements in place, has gained 0.2% at $1.2167, crawling back from a 28-month of $1.2120 plumbed yesterday. Few expect the pound’s respite will last long, given new Prime Minister Boris […]

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