Pound crashes to 31 year low
- Posted by Shyam Gokani in Uncategorised
- October 5, 2016
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A three-day decline in the pound after U.K. Prime Minister Theresa May set a date to start the process of leaving the European Union has left sterling trading at its weakest level versus the euro since 2011. The pound reached a 31-year low versus the dollar amid concern Britain is headed for a so-called hard […]
READ MOREPound plummets on brexit news
- Posted by Shyam Gokani in Uncategorised
- October 4, 2016
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Sterling slid to its lowest in more than three decades against the dollar on Tuesday, on growing fears that Britain’s looming departure from the European Union will hit the economy. Sterling had skidded more than 1 percent on Monday on the back of Prime Minister Theresa May’s announcement a day earlier that the formal process […]
READ MOREUK Mortgage approvals drop off
- Posted by Shyam Gokani in Uncategorised
- September 29, 2016
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British mortgage approvals fell to their lowest level since November 2014 last month as the housing market continued to slow after June’s vote to leave the European Union, Bank of England data showed this morning. The BoE figures also showed lending to consumers continued to grow rapidly, expanding at a rate close to the 10-year […]
READ MOREBrexit worries continue to control the pound
- Posted by Shyam Gokani in Uncategorised
- September 27, 2016
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Fear of a “hard” Brexit that would see Britain lose access to Europe’s single market and erect tough barriers to immigration and trade kept sterling under pressure below $1.30 on Tuesday in a week short of an alternative domestic focus for markets. Scotland’s external affairs minister Fiona Hyslop was the latest to say on Monday […]
READ MOREPound down against all currencies
- Posted by Shyam Gokani in Uncategorised
- September 26, 2016
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Sterling was weaker this morning, trading near a five-week low, as lingering worries over Britain’s exit from the European Union drove investors to sell the currency that has steadily lost ground in the past three straight weeks. Sterling was knocked down late on Thursday after British Foreign Secretary Boris Johnson said he expected formal divorce […]
READ MORESterling retracts after recent gains
- Posted by Shyam Gokani in Uncategorised
- September 23, 2016
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Sterling slipped back towards $1.30 today, ending the week in much the same place as it started, with worries over Britain’s exit from the European Union keeping pressure on the currency. The pound had jumped back over $1.31 yesterday afternoon, after Bank of England policymaker Kristen Forbes said she saw no case for a further […]
READ MORESterling bounces back
- Posted by Shyam Gokani in Uncategorised
- September 22, 2016
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Sterling rebounded from a five-week low against the dollar this morning, boosted by renewed weakness in the greenback after the Federal Reserve kept monetary policy steady and projected a less aggressive path for rate hikes in coming years. While the Fed strongly signalled it could tighten monetary policy by the end of the year, policymakers […]
READ MORESterling drops against the Euro again
- Posted by Shyam Gokani in Uncategorised
- September 20, 2016
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Sterling steadied against a broadly weaker dollar this morning, in the run-in to U.S. and Japanese central bank meetings that were taking the market’s focus temporarily off the latest concerns over the shape of Britain’s exit from the European Union. The pound had staged a modest recovery on Monday after slipping below $1.30 last week […]
READ MORESterling slips against Euro & Dollar
- Posted by Shyam Gokani in Uncategorised
- September 16, 2016
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Sterling slipped against the dollar and euro today and is on track for its worst week in five on a trade-weighted basis, as investors worried about Britain’s vote to leave the European Union and bet on another cut in interest rates this year. The Bank of England kept rates at their record lows at yesterday’s […]
READ MOREUK Retail Sales boost pound
- Posted by Shyam Gokani in Uncategorised
- September 15, 2016
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Sterling rose briefly on Thursday after data showed British retail sales fell at a much slower pace than expected in August, although expectations that the Bank of England is likely to look through the data and keep policy accommodative checked gains. Retail sales volumes edged down 0.2 percent on the month in August after jumping […]
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