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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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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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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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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Pound Continues To Gain

Sterling rose a quarter of a percent this morning as hopes grew for a Brexit deal breakthrough, encouraging investors to buy the British currency with the struggling dollar also fuelling gains. The European Union is preparing to back a compromise proposal on the Irish border to resolve the last major hurdle in Brexit negotiations, according […]

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Deal Likely

Sterling gained this morning, putting it on course for its second-best week of 2018 on optimism for a Brexit deal and signals from the Bank of England that if the exit from the European Union is smooth more interest rate hikes could be on the way. The pound enjoyed its best day of the year […]

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Market Update

The pound inched down to just above two-month this morning as traders prepared for the British finance minister’s annual budget speech later in the day. Philip Hammond will use his speech to urge his divided Conservative Party to back the government’s plan for a Brexit deal, or put at risk a long-awaited easing of austerity. […]

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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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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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