Blog


May Speech Later Today

The British pound held near a three-week low this morning as investors wait on the services survey data and Prime Minister Theresa May’s speech later in the day.

May will tell her Conservative Party that the impending divorce from the European Union is an opportunity that opens up a future full of promise, assuring the faithful: “We have everything we need to succeed.”

It could be a potentially big day for the sterling… it is going to be interesting to see what impact the PM’s speech has on the currency as the day goes on.

Sterling has been hit hard by concerns over a growing conflict over May’s Brexit plan with the pound falling to a Sept. 10 low of $1.2979 in the previous session.

May’s speech will be watched keenly by investors for clues on whether she can persuade senior members of the ruling Conservative Party to accept her so-called Chequers plan to leave the EU.

Manufacturing PMI data due shortly will likely show the services sector increasing to 54 compared to 54.3 in September, according to a poll.

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers