Sterling Set For Further Losses


Sterling Set For Further Losses

Sterling steadied this morning however it was on track for a third consecutive week of losses as investors keep clear before the British parliament’s vote on Brexit next month. Prime Minister Theresa May said yesterday she was focused on persuading lawmakers to back her divorce deal with the European Union in a Dec. 11 vote, […]

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Pound Eases Off

The dollar weakened against other major currencies this morning, as markets took Federal Reserve Chairman Jerome Powell’s comment that U.S. interest rates were just below neutral as a signal that a three-year rate-hiking cycle is nearing an end. Powell took markets by surprise on Wednesday when he noted that the policy rate, at 2 to […]

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More Pressure On May

The DUP who prop up British Prime Minister Theresa May’s government sent her a stark warning over her draft Brexit divorce deal, pulling support in several parliamentary votes on a finance bill. The move breaches the DUP’s deal with May and throws further doubt over whether she has the numbers to approve a draft Brexit […]

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48 Letters Of No Confidence Submitted

Theresa May is fighting for survival today after a draft divorce deal with the European Union provoked the resignations of senior ministers and open mutiny in her party. Brexit minister Dominic Raab resigned on Thursday over her deal, sending the pound tumbling. Mutinous lawmakers in her own party openly sought to challenge her leadership and […]

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Brexit Secretary Raab Resigns – Pound Crashes!

British Brexit Secretary Dominic Raab resigned thrusting Prime Minister Theresa May’s government into turmoil just two days after she clinched an EU divorce deal that was mauled by opponents, allies and mutinous members of her party. The resignation of such a senior minister puts the United Kingdom into a political crisis just as May was […]

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UK PM May faces a fight to seal Brexit deal

Prime Minister Theresa May will try to convince senior ministers this afternoon to accept a draft European Union divorce deal that opponents said would imperil her own government and threaten the unity of the United Kingdom. Brexiteers in May’s Conservative Party accused her of surrendering to the EU and said they would vote the deal […]

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UK Third Quarter Growth Strong

Britain’s economy kept up healthy momentum during the third quarter, but this may prove a high watermark ahead of Brexit, official figures showed this morning. Gross domestic product in the three months to September was 0.6 percent higher than in the previous quarter, matching the consensus forecast in a poll of economists, figures from the […]

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Dollar Recovers From Mid Term Election Losses

The dollar rose this morning, pulling away from lows hit yesterday, as the market breathed a sigh of relief after the U.S. midterm elections and as investors turned their attention toward the Federal Reserve policy meeting. The Federal Reserve is expected to keep interest rates on hold but signal further tightening in December. Analysts said […]

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Sterling Gains – Trump Doesn’t

Sterling rose for a third consecutive day, buoyed by a BBC report that Britain is preparing for a Brexit agreement by the end of November. The pound has benefited from growing hope among investors that Britain is close to reaching a deal with the European Union less than five months before it leaves the bloc. […]

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Sterling Rallies On Positive Brexit News

Sterling rallied after a newspaper report said Britain was nearing a deal for leaving the European Union and that an all-UK customs arrangement would be part of it. With talks at an impasse five months before Britain exits the European Union, investors are growing anxious and sterling is moving sharply on any news of a […]

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