Pound has futher room to drop


Pound has futher room to drop

Britain’s pound dipped below $1.27 for the first time since June 1985 yesterday, with fears of a ‘hard’ Brexit from the European Union also pushing the currency to a five-year trough against a broadly stronger euro. Sterling has been buffeted for a fortnight by worries that Britain will prioritise curbing immigration over promoting trade in […]

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Sterling drops after May’s Brexit comments this weekend

Sterling slid to a three-year low against the euro and a three-month low versus the dollar this morning, after a March deadline was set for the start of the formal process that will split Britain from the European Union. Britain’s Prime Minister Theresa May told her Conservative party’s annual conference on Sunday that she was […]

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Sterling fights back after losses on Friday

Sterling rose against a weaker dollar this morning, although gains are still likely to be held in check by concerns about the uncertainty generated by Britain’s vote to leave the European Union and expectations of more interest rate cuts in coming months. The Bank of England kept rates at record lows on Thursday but signalled […]

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Uk Manufacturing drops, Carney due to speak

British manufacturing output fell in July at the fastest pace in a year, confirming earlier signs that factories took an immediate hit after the vote to leave the European Union, official data showed on this morning. Overall industrial output unexpectedly rose thanks to strong oil and gas production, the Office for National Statistics said. Output […]

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Sterling continues to surprise

Sterling rose to near a 7-week high against the dollar on today, amid expectations that Britain had probably dodged a recession in coming months with the economy showing signs of resilience in the aftermath of the shock Brexit vote. The pound also hit a four-week peak against the euro, with sentiment bolstered by the recent […]

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Pound soars again today

Sterling jumped to a 7-week high against the dollar today, and hit a one-month peak against the euro after a survey showed Britain’s services industry bounced back strongly in August from a slump triggered by Brexit. The Markit/CIPS Purchasing Managers’ Index (PMI) for the dominant services sector jumped to 52.9 in August from July’s seven-year […]

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UK Construction figures better than expected

Sterling and Britain’s blue chip stock index rose to a day’s high this morning after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 49.2 from 45.9 in July, still […]

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Sterling slips against Dollar

Sterling slipped back towards $1.30 on Tuesday on divergent expectations for monetary policy, with investors increasingly betting U.S. interest rates could rise by year-end while British rates may be cut again. With London markets closed on Monday for a national holiday, Tuesday marked the first full day of trading there since U.S. Federal Reserve Chair […]

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Sterling nears 3 week high

Sterling traded close to a three-week high against the dollar today and was on track for its best week in six, with worries over the economic impact of Britain’s vote to leave the European Union easing a little after recent better-than-expected data. The pound was also on track for its best week in six weeks […]

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Sterling up this morning

Sterling inched up on today after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain’s economy was faring better than expected following its vote to leave the European Union. The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding […]

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