90% Done Deal


90% Done Deal

European Union negotiator Michel Barnier said on Friday a Brexit deal with the United Kingdom was 90 percent done, although there was still a chance no accord would be reached due to ongoing stumbling blocks over the Irish border. On Thursday, British Prime Minister Theresa May and other EU leaders voiced renewed confidence that they […]

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UK Retail Sales Drop

British retail sales fell by the most in six months last month after a large drop in food purchases, which followed an unusually warm summer that had encouraged Britons to splash out on barbecues. Retail sales volumes in September dropped by 0.8 percent from August – a bigger fall than economists had expected in a […]

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UK CPI & RPI Weaker

Sterling drops notably just after September consumer inflation data came in lower than expected. Headline CPI slowed to 2.4% yoy, down from 2.7% yoy and missed expectation of 2.8% yoy. Core Inflation slowed to 1.9% yoy, down from 2.1% yoy and missed expectation of 2.1% yoy. The ONS noted that “The largest downward contribution to […]

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Brexit Negotiations Stall

Sterling held near a one-week low today as Brexit negotiations appeared to have stalled before a crucial European Union summit later this week. Negotiators from both sides have been locked in talks this week to overcome differences on the biggest outstanding hurdle to a deal – how to keep the UK frontier with the Irish […]

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Pound Euro Could Hit 1.1970

Sterling rose against a weaker dollar on Thursday on hopes of a Brexit deal, but concern among investors about the Ireland border issue kept gains in check. Hopes are building that a trade deal between the European Union and Britain can be struck before an EU summit on Oct. 18. The pound has risen for […]

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Barnier Throws Spanner In The Works

On Wednesday Sterling rose half a percent after European Union Brexit negotiator Michel Barnier signalled progress on a deal with the UK over its withdrawal from the bloc, as well as on the crucial Irish border question. Barnier said 80-85 percent of the withdrawal deal was agreed. However, this morning the pound has dropped by […]

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Pound Gains As Brexit Deal Gets Closer

Sterling hit a new high versus the euro and added to recent gains against the dollar this morning on optimism that Britain and the European Union can agree a Brexit deal soon. Britain’s ITV News reported late on Tuesday that the two sides had made progress in negotiations over an Irish border backstop, a key […]

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Market Update

Today has a very light data calendar with nothing of note in the UK or the Eurozone. The main focus will be UK politics and in particular Brexit negotiations. However, as yesterday’s meeting between Brexit Minister Raab and EU Chief Negotiator Barnier did not go ahead, it suggests they are still some way from a […]

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Brexit Deal To Be Agreed By November?

The British pound fell this morning against the US Dollar and traders re-assessed the chances of a breakthrough in Brexit negotiations after the encouraging headlines seen in recent days. European Union negotiators said on Friday an agreement with Britain was “very close” and European Commission President Jean-Claude Juncker said on Saturday a deal would be […]

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Sterling Boosts On Positive Brexit Negotiations

The European Union’s Brexit negotiators told national diplomats in Brussels late last night that a divorce deal with Britain was “very close”, according to two sources present at the meeting. The EU signalled that it was engaging with new proposals emerging in Britain on how to avoid extensive checks on the Irish border after Brexit, […]

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