Market Update


Market Update

Sterling started the day lower after British Prime Minister Theresa May’s offer to quit failed to convince hard-line opponents to back her Brexit withdrawal agreement, fuelling more uncertainty for the pound in the short term. The British parliament’s bid to agree an alternative plan fell short, leaving the Brexit process as deadlocked as ever. May […]

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Slight recovery for GBP -Dollar Weakens

Sterling rose this morning after suffering heavy losses spurred by fears of a global economic slowdown, but uncertainty about Brexit kept its gains in check. The pound sank to its lowest since April 2017 yesterday after worries about the health of the global economy and particularly China sparked an investor exodus from currencies considered riskier. […]

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Flash Crash

We are more likely to end up leaving the European Union without a deal if parliament rejects the agreement Theresa May has negotiated with Brussels, Brexit minister Stephen Barclay said this morning. With less than three months until Brexit lawmakers will make a pivotal decision later this month: accept May’s plans for a managed exit […]

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Big Few Weeks Ahead For May

Theresa May urged MPs to back her Brexit deal, promising that it would allow the country to “turn a corner” and let the government focus on solving domestic problems such as housing and a skill shortage. May made the appeal in a New Year’s message little more than two weeks before a make-or-break vote in […]

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Pound Continues Losses

Sterling has dropped off over after the Bank of England kept interest rates on hold and warned about the risks of a no-deal Brexit, with the British currency initially trading higher thanks to better-than-expected retail sales and a weaker dollar. The BoE said Brexit uncertainty had “intensified considerably” over the last month and that falling […]

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Retail Sales Above Forecast

Sterling gained nearly half a percent against a weakened dollar today, as traders prepared for British retail sales data and the Bank of England’s interest rate decision. Analysts put most of the pound’s buoyancy down to dollar weakness, with the U.S. currency struggling after the Federal Reserve struck a more dovish tone on monetary policy […]

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Inflation Lower

Headline inflation data is showed a decline to 2.3 percent for the month of November from 2.4 percent previously and edging towards a 2 percent target in the coming years by the Bank of England. A sharp fall in inflation could have had further weigh on market expectations of a rate hike. Money markets are […]

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Brexit Vote Rescheduled For January

The pound edged off 20-month lows yesterday as British Prime Minister Theresa May rescheduled a delayed vote in parliament on her Brexit plan for mid-January. Sterling, trading at $1.26, inched higher as May confirmed the vote – postponed last week in the face of deep opposition – would happen in the week starting on Jan. […]

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Second Referendum?

The pound hovered near 18 month lows this morning, with reports that more politicians are calling for a second Brexit referendum. With British Prime Minister Theresa May facing deadlock in parliament over her deal to leave the European Union and the bloc offering little so far, calls for a second referendum are growing louder. It […]

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Brexit Back On Track

Theresa May was set to ask European leaders for help today after a mutiny by more than a third of her MPs failed to unseat her but left parliament heading for deadlock over Brexit. May won the backing of 200 Conservative members of parliament in the high-stakes secret vote while 117 dissented, far from the […]

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