Sterling Hits Six Week High


Sterling Hits Six Week High

The pound is at a six-week high, helped by a weaker dollar and reports of progress on the Irish border question, an obstacle to Brexit diplomats will try to overcome this week at a European Union summit. The United Kingdom is due to leave the EU on March 29 but no full exit agreement has […]

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Market Update

Britain’s economy would face a “significantly worse” outlook if the country leaves the European Union next year without a deal than if it reaches a Brexit agreement, the International Monetary Fund said this morning. The IMF said it expected Britain’s economy would grow by about 1.5 percent a year in 2018 and 2019 if a […]

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Sterling Continues To Gain

Sterling rose again this morning and is set for its second biggest weekly rise in 2018 as imminent concerns over the outlook of emerging markets faded after the central bank upgraded growth forecasts at a policy meeting. The BoE voted 9-0 to leave interest rates at 0.75 percent, a month after tightening policy for only […]

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Bank Of England Meeting Later Today

Sterling has held near recent highs before a monetary policy announcement later in the day, when the Bank of England looks almost certain to keep interest rates unchanged after raising them last month. Economists polled all expect the BoE’s Monetary Policy Committee (MPC) to vote 9-0 to leave interest rates at 0.75 percent. Most do […]

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Potential Leadership Challenge To Prime Minister

Sterling stagnated this morning after reports of a potential leadership challenge to Prime Minister Theresa May and as realism set in about how far there remains to go before Britain can agree a Brexit trade deal. The BBC reported a group of about 50 lawmakers in British Prime Minister Theresa May’s party who oppose her […]

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UK Wage Data Comes In Strong

UK Pay growth picked up faster than expected to a rate that has not been exceeded in three years, as businesses found it harder to recruit staff, official figures showed this morning. Average weekly earnings excluding bonuses rose by 2.9 percent on the year in the three months to July, the fastest since March and […]

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UK GDP Grows At Fastest Pace In A Year

Britain’s economy grew at its fastest pace in almost a year during the three months to July, boosted by stronger consumer spending due to the World Cup and warm weather. Gross domestic product in the three months to July was 0.6 percent higher than in the previous three-month period, gathering pace from 0.4 percent recorded […]

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Market Update

Sterling edged slightly higher this morning but was set for its biggest weekly drop in three weeks as traders consolidated positions before monthly U.S. jobs data and as broader trade tensions dominated sentiment. The British currency has had a volatile week as headlines on the progress of Brexit negotiations forced traders to unwind positions in […]

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Pound Rebound

Sterling rebounded off a two-week low, after a Bloomberg report that the United Kingdom and Germany were prepared to drop a key sticking point on Brexit negotiations fuelled hopes of a breakthrough in talks. Sterling had a jump on stories suggesting there is a shift in the German government on Brexit demands, making it more […]

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UK Data Strong – No Impact On Sterling

Sterling edged lower for a fifth consecutive day as a resurgent dollar and mounting concerns over Brexit negotiations sapped demand for the British currency. An overnight bounce in the pound after a report that the European Union could offer new guarantees to Britain to win London’s support for a solution aimed at avoiding a hard […]

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