Pound Continues Losses


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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Second Referendum?

The pound hovered near 18 month lows this morning, with reports that more politicians are calling for a second Brexit referendum. With British Prime Minister Theresa May facing deadlock in parliament over her deal to leave the European Union and the bloc offering little so far, calls for a second referendum are growing louder. It […]

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Brexit Back On Track

Theresa May was set to ask European leaders for help today after a mutiny by more than a third of her MPs failed to unseat her but left parliament heading for deadlock over Brexit. May won the backing of 200 Conservative members of parliament in the high-stakes secret vote while 117 dissented, far from the […]

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Another Day Of Sterling Volatility Ahead

Sterling fell this morning and was headed for a fourth consecutive week of losses as British Prime Minister Theresa May pressed ahead with plans for a parliamentary vote on her Brexit deal with the European Union, despite warnings it could topple her government. Sterling’s near-term fate hangs on whether May can win a majority for […]

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My Deal – No Deal Or Reversal!

Prime Minister Theresa May has said this morning that British lawmakers faced a choice ahead of a vote on her Brexit deal: approving her deal or facing an exit with no deal or even the reversal of Brexit. A No Deal would be disastrous for the UK; however, a reversal does not seem such a […]

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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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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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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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PM Has Backing From Her Party

Theresa May received a show of support from her Conservative Party at a meeting in parliament, shifting the focus away from talk of an imminent leadership challenge over her Brexit strategy. May has angered both supporters of Brexit and pro-EU lawmakers since failing to clinch a deal at an EU summit last week by raising […]

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Leadership Challenge?

The British pound recovered from 2-1/2-week lows but gains were limited because of continuing uncertainty about whether Prime Minister Theresa May can see off her opponents and secure Britain an exit deal from the European Union. May told parliament on Monday that the Brexit deal with Brussels was 95 percent complete, and she urged restive […]

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