Recession Fears Rise – UK Economy Shrinks 0.2%


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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Market Update

Sterling’s recent slide are not over yet and could continue as chances Britain and the European Union part ways without a withdrawal deal have jumped again. Johnson, who was the face of the leave campaign ahead of the 2016 referendum and who took office on July 24, has repeatedly said he will take Britain out […]

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Brexit Update

The pound this morning has remained stuck near its weakest since 2017 and analysts are predicting renewed volatility. Risks of a no-confidence vote in the new Conservative government as soon as it comes back from the summer recess, or an early election are two of the many scenario’s investors envision happening as the deadline to […]

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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 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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Sterling Crashes

Sterling crashed to 2-1/2 year lows this morning and fell towards the $1.21 mark versus the dollar as the growing likelihood of a disorderly Brexit led investors to hedge or cut their exposure to British assets. Sterling traded as high as $1.32 in early-May, having fallen steadily since then, with losses accelerating since July 24 […]

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Pound Hits New Lows

Sterling dropped to another low this morning, hitting its weakest since March 2017 as investors grow increasingly worried that Britain is headed towards a disorderly exit from the European Union without a transition deal. Senior ministers said on Sunday that new Prime Minister Boris Johnson’s government was working on the assumption that the EU will […]

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Market Update

The dollar stayed near a two-week high versus on Friday as investors pared expectations for aggressive Federal Reserve interest rate cuts ahead of key U.S. economic data later in the day. The euro held gains after the European Central Bank (ECB) kept policy unchanged, disappointing some market participants who had bet on an easing, but […]

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