Sterling stays below 1.30 against US Dollar


Sterling stays below 1.30 against US Dollar

Sterling steadied on Thursday after two more days of nerves over the fallout of Britain’s vote to leave the European Union drove it below $1.30 for the first time in more than three decades. Analysts and traders remain convinced more weakness in the pound is on the cards, with some predicting a fall to the […]

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Sterling takes major hit as markets open today

Sterling hit a fresh 31-year low against the dollar in risk-averse markets on Tuesday, as investors worried about the economic and financial fallout of Britain’s vote to leave the European Union. The pound, the asset that has borne the brunt of market concerns about the economic impact of the vote, slid 1.3 percent on Tuesday […]

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Pound volatility continues as no clear outloook

Britain’s pound traded flat this morning, rooted just over a cent off last week’s lows against the dollar and threatened by a round of data that may give the first clues to any post-Brexit vote weakening of the UK economy. While June’s PMI surveys of sentiment among company purchasing managers will be largely discounted as […]

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UK Credit Ratings Cut by S&P and Moodys

Higher-yielding, riskier currencies such as the Australian dollar rose along with sterling on Tuesday on hopes of a more coordinated central bank response to stem steep losses in markets after Britain’s vote to leave the European Union. Safe-haven currencies such as the yen and the Swiss franc, which had gained sharply since last Thursday’s vote, […]

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Sterling hits 31 year low

British 10-year government borrowing costs sank below 1 percent on Monday for the first time ever and sterling tumbled to a fresh 31-year low against the dollar as investors bet Britain’s vote to leave the EU will trigger a Bank of England rate cut. Billions of pounds were wiped off the value of British financial […]

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Vote Day is here. How will you vote??

Sterling advanced to a 2016 high against the dollar on Thursday after the last sweep of opinion polls favoured Britain remaining in the European Union, just as voting got underway. Polls by ComRes, conducted for the Daily Mail newspaper and ITV television, and by YouGov for The Times newspaper in London, showed a last-minute rise […]

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Tomorrow is the biggest day for the UK!

Sterling rose today, moving back towards a 5-1/2-month high against the dollar, as investors cut bets against the pound just a day before Britain votes on whether to remain in the European Union. Tomorrow While opinion polls suggested the vote on Thursday was too close to call, the implied probability of a vote to remain […]

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2 days to go! Bookies back remain

Sterling hit its strongest level against the dollar since early May today, having the previous session posted its biggest one-day climb since 2008, as worries receded that Britain will vote to leave the European Union in two days’ time. Two opinion polls on Monday suggested that the “Remain” camp had recovered some ground ahead of […]

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Sterling recovers slightly from recent slump

The cost of hedging against sharp swings in sterling over the next week rose to a record high this morning as the contract rolled over to capture the date for Britain’s vote on whether it wants to stay in the European Union. In the spot market, sterling recovered from 10-week lows against the dollar as […]

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7 Days to go

For the Bank of England, Britain’s vote on its European Union membership next week means everything. The nine-member Monetary Policy Committee, led by Governor Mark Carney, will announce its decision on interest rates at noon today. Officials will probably keep the key rate at 0.5 percent, having said they will interpret economic data surrounding the […]

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