Slight recovery for GBP -Dollar Weakens


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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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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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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Sterling Bounces Back

Sterling tumbled to its weakest since April 2017 yesterday after Prime Minister Theresa May pulled a parliamentary vote on her Brexit deal with the European Union, panicking investors about deepening political uncertainty in Britain. May said on Monday she was delaying the planned vote as her deal would likely be rejected “by a significant margin”. […]

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The UK can halt Brexit – Revoking Article 50

The UK can halt Brexit by unilaterally revoking Article 50. An advocate general from the European Court of Justice (ECJ) has published his legal opinion on the case. Manuel Campos Sanchez-Bordona’s written opinion is an independent legal solution to the question of whether an EU member state such as the UK can decide on its […]

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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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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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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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Sterling Volatility Kicks In

The British parliament will vote down Prime Minister Theresa May’s possible Brexit, so voters should be given a new referendum, May’s former education minister said this morning. Asked if there was any chance May’s plan could pass parliament, Justine Greening, who supported staying in the European Union, said “no”. “I think it’s the worst of […]

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