Market Update


Market Update

The Supreme Court’s decision which took place yesterday, called Prime Minister Boris Johnson’s suspension of parliament unlawful and said lawmakers should return to sitting, is widely seen as reducing the probability of Britain leaving the European Union without a divorce agreement on Oct. 31. Prime Minister Boris Johnson was flying home today as determined as […]

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Market Update

British pound attempted a recovery and reached the highest level since July; however, the upside failed to gain traction. GBP seem to have bumped into a brick wall on the approach to $1.2350 despite some positive developments on Brexit front. Speaking at a press conference with the Irish leader Leo Varadkar, the U.K. Prime Minister […]

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Sterling Drops Below $1.20

Sterling has dropped below $1.20 this morning to a three-year low, as Prime Minister Boris Johnson’s implicit ultimatum to lawmakers to back him on Brexit or face an election sent investors scrambling to dump British assets. Barring an October 2016 ‘flash crash’ when sterling momentarily tanked to as low as $1.15, the British currency has […]

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Boris Johnson set to suspend parliament

Britain’s government will seek to extend the period during which parliament does not normally sit, shutting it for around a month until Oct. 14, as part of a drive to prevent politicians from derailing its Brexit plan, the BBC reported. The move, also reported by the Guardian, limits the amount of parliamentary time available to […]

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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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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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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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