Sterling Stays Steady


Sterling Stays Steady

Sterling kept within its recent trading range this morning, but this week could prove its second best so far this month as expectations that the Conservative Party may win a majority in the Dec. 12 national election fuel investors’ optimism. British Prime Minister Boris Johnson’s Conservatives have a 10-point lead over the main opposition Labour […]

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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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Markets Await Johnson Speech Later Today

Sterling inched slightly higher this morning against the dollar and euro after losses in recent days but options markets indicate more pain ahead as the risk of a no-deal Brexit under new leader Boris Johnson is seen worsening economic stress. We are awaiting Johnson’s speech due later in the day after Britain’s Queen Elizabeth formally […]

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Sterling Hits 2 Year Low

Sterling fell towards its lowest levels in more than two years on Tuesday against the backdrop of a worsening economic outlook and rising fears about a no-deal Brexit and a new Prime Minister. With a key US$1.25 level against the dollar giving way in early Asian trade, traders quickly pushed the British currency down half […]

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Continuing Trend – Pound Drops Further

The British pound fell further this morning amid worries about the threat of a no-deal Brexit under the next prime minister and a deteriorating UK economy. In the latest sign of economic weakness, sales at British retailers rose at their slowest average pace on record over the past year, a survey from the British Retail […]

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Theresa May Quits

British Prime Minister Theresa May said in a statement that she resigns, triggering a contest that will bring a new leader to power who is likely to push for a more decisive Brexit divorce deal. May set out a timetable for her departure: She will resign as Conservative Party leader on June 7 with a […]

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Pound Drops 14th Day In A Row

Sterling plunged again in early London trading this morning as pressure mounted on Prime Minister Theresa May to name a date for her departure. The British currency has been falling heavily in the past few days. May’s last-ditch attempt to get backing for a Brexit deal triggered a revolt yesterday by some of her Brexit-supporting […]

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Brexit Volatility Expected To Continue This Week

Sterling is below $1.30 this morning as Britain’s parliament returned from its Easter break and the ruling Conservative party tried to move talks forward with the opposition Labour party over a Brexit agreement. Volatility in sterling has fallen sharply in recent weeks after the European Union and London agreed to delay Britain’s departure date by […]

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