Brexit Secretary Raab Resigns – Pound Crashes!


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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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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Sterling Rallies On Positive Brexit News

Sterling rallied after a newspaper report said Britain was nearing a deal for leaving the European Union and that an all-UK customs arrangement would be part of it. With talks at an impasse five months before Britain exits the European Union, investors are growing anxious and sterling is moving sharply on any news of a […]

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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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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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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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UK CPI & RPI Weaker

Sterling drops notably just after September consumer inflation data came in lower than expected. Headline CPI slowed to 2.4% yoy, down from 2.7% yoy and missed expectation of 2.8% yoy. Core Inflation slowed to 1.9% yoy, down from 2.1% yoy and missed expectation of 2.1% yoy. The ONS noted that “The largest downward contribution to […]

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Market Update

Today has a very light data calendar with nothing of note in the UK or the Eurozone. The main focus will be UK politics and in particular Brexit negotiations. However, as yesterday’s meeting between Brexit Minister Raab and EU Chief Negotiator Barnier did not go ahead, it suggests they are still some way from a […]

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May Speech Later Today

The British pound held near a three-week low this morning as investors wait on the services survey data and Prime Minister Theresa May’s speech later in the day. May will tell her Conservative Party that the impending divorce from the European Union is an opportunity that opens up a future full of promise, assuring the […]

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