Pound Hits Fresh Lows


Pound Hits Fresh Lows

Sterling hit a ten-week low on this morning as concern about Britain’s departure from the EU led investors to largely ignore hopes of an end to austerity raised by Britain’s finance minister Philip Hammond. The pound has weakened 4 percent since September as traders fret over lack of progress in divorce talks over issues including […]

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Brexit!

The pound fell to a three-week this morning before British Prime Minister Theresa May meets with Conservative Party lawmakers, some of whom have discussed toppling her in anger at her Brexit negotiations. May is seeking to win over lawmakers in her party who oppose her approach to Brexit negotiations, stuck at an impasse just over […]

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UK Retail Sales Drop

British retail sales fell by the most in six months last month after a large drop in food purchases, which followed an unusually warm summer that had encouraged Britons to splash out on barbecues. Retail sales volumes in September dropped by 0.8 percent from August – a bigger fall than economists had expected in a […]

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UK Inflation Surprises

UK inflation jumped unexpectedly to a six-month high in August, pushed up by bigger-than-usual seasonal increases in sea and air fares and higher theatre admission prices, official data showed this morning. CPI rose at an annual rate of 2.7 percent in August, compared with 2.5 percent in July, the Office for National Statistics said, above […]

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Sterling hits a 5 day high

Sterling rose to a five-day high after British retail sales jumped for the second month in a row in May and far outstripped expectations. Sterling is likely to gain this year and by the time Britain leaves the European Union next March will have recouped a chunk of its losses since the June 2016 decision […]

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Pound gains after positive Brexit news

Sterling rallied more than half a percent to hit a two-day high after a media report that Britain would tell Brussels it was prepared to stay in the European Union’s customs union after a transitional arrangement. Britain will tell Brussels it is prepared to stay in the customs union beyond 2021 as ministers remained deadlocked […]

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UK Inflation drops unexpectedly

UK inflation dropped to a one year low, according to figures which now raise doubts about a rate rise in May and further rises going forward. There is still a 96% chance of a UK rate rise in May and we believe this is already priced into the markets. Official data showed annual consumer price […]

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McCafferty speech boosts Sterling

Sterling hit a two-week high today after a top policymaker said the Bank of England should not delay in raising interest rates after a recent strong pick-up in the world economy. Ian McCafferty, one of the two members of the nine-strong Monetary Policy Committee who voted for a rate rise last month, said in an […]

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Pound gains across the board

Sterling was flat in a big week for the British currency with employment and inflation data due, followed by a crucial summit between European and British officials to secure a Brexit transition arrangement. The Pound to Euro exchange rate has gained today, in the aftermath of the Italian general election that resulted in a hung […]

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The week ahead

Over the weekend, amid speculation that the Bank of England could raise interest rates as soon as May, Chief Economist Andy Haldane said that there is “no rush” to tighten policy further. Bank of England speakers are the key focus today in an otherwise quiet calendar. Following last week’s hawkish signals from the Bank of […]

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