Sterling gains after budget update


Sterling gains after budget update

The pound has gained this morning as the dollar was dumped by investors as data showed U.S. consumer price inflation in February cooled and President Donald Trump said he had fired U.S. Secretary of State Rex Tillerson. British Finance Minister Philip Hammond gave his half-yearly economic update on the economy. Which was positive. Hammond upgraded […]

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UK Budget update today

UK Chancellor of the Exchequer Philip Hammond will give his Spring Budget update today. Traditionally a major set-piece event, its importance has now been downgraded. The main Budget statement now takes place in the autumn and it has been promised that this afternoon’s speech will not contain any major changes to tax or spending. Instead, […]

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No Deal

Sterling weakened against the Dollar yesterday on worries that Britain might not manage to clinch a transition deal with the European Union at a summit later this month. Even against a euro shaken by the cautious tone of the European Central Bank’s chief at a press conference after a policy meeting. ECB President Mario Draghi’s […]

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Euro weakness, Sterling on the rise

The euro has weakened this morning and is set to post its second-biggest weekly loss in nearly four months as investors trim positions before a big week for global currency markets from a European politics perspective. The outcome of the Italian general election is due on March 4 and the German Social Democrats poll of […]

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Sterling Update

The US Dollar strengthened last night, this was after the Fed meeting showed policymakers are confident in rising inflation and the need for interest rates to keep increasing. The minutes also showed voting members, as well as the wider group of policymakers, had upgraded their forecasts for the economic outlook since December. A bit of […]

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Dollar fights back

The dollar enjoyed a small rebound today as investors bought back the greenback following its plunge to three-year lows. The U.S. currency has been hurt by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to […]

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UK Retail Sales expanded 0.1% MoM

Sterling gave away part of its initial gains today following the release of January’s retail sales in the UK. Overall, retail sales volumes rose 0.1 percent on the month, below economists’ forecasts in a Reuters poll for a monthly rise of 0.5 percent, after dropping 1.4 percent in December. Even in year-on-year terms, there was […]

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Pound above $1.40

Sterling rose against the dollar today, cementing gains on the back of a broadly weakened dollar, with traders eyeing earnings data next week to give the pound fresh momentum. After a strong start to the year on the back of growing expectations that the Bank of England will raise rates faster than previously thought, and […]

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Dollar Weakens Ahead Of Inflation Data

Sterling strengthened yesterday after data showed British inflation unexpectedly stayed close to its highest levels in six years in January, firming up investors’ bets that the Bank of England will raise interest rates again in May. The BoE surprised financial markets last week by indicating that rates could move up faster than previously expected, as […]

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UK Inflation unexpectedly at 3%

Sterling edged up against the dollar and Euro this morning, continuing a modest rebound from three-week lows hit last week, as traders eyed UK inflation data for clues on when and how fast the Bank of England will raise interest rates. Consumer price index (CPI) numbers were in at 0930 GMT and they were expected […]

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