UK Retail Sales jump in May


UK Retail Sales jump in May

Sterling rose a quarter of a percent this morning before any data, cementing some modest gains notched up this week. British retail sales jumped for the second month in a row in May, far outstripping expectations as a royal wedding and warm weather helped shoppers put a winter slump further behind them, data showed this […]

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Sterling hits a 6 month low against the Dollar

The pound fell to a six-month low against a rallying dollar on Tuesday, while it held its own against a euro dragged down by concerns about a deepening political crisis in Italy. Sterling has slumped against the dollar since mid-April as expectations of a Bank of England interest rate rise recede and the economy shows […]

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Sterling starts the week on the up

Sterling rose against the euro and dollar this morning and is on track for a third consecutive day of gains as investors are encouraged by data showing British house prices rising more than expected in March. Since Britain signed a transition agreement last month to cover the 21-month period after it leaves the European Union, […]

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Brexit vote in parliament today

The dollar moved higher against a basket of currencies this morning as the euro paused after having rallied to more than three-year highs overnight amid growing expectations that the European Central Bank will scale back stimulus this year. Prime Minister Theresa May’s Conservative Party urged MPs to back the government’s Brexit legislation at a vote […]

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Sterling continues to slide

Sterling extended the previous two days’ losses today as a struggling retail sector and a widening trade deficit raised concerns among some investors that the currency’s recent gains could be overdone. The British currency fell to a two-week low in early trades, with some market analysts saying the pound’s decline this week opens the door […]

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May’s reshuffle was a shambles

British Prime Minister Theresa May’s leadership team shake-up, designed to restore her authority and address divisions over Brexit, was branded a shambles after one minister quit and media reported another had refused to move jobs. May had hoped to reset her agenda and strengthen her hand as Britain moves to the second phase of talks […]

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Steady Sterling for 2018

The British pound is set to mostly hold steady against both the dollar and the euro this year, but much will hinge on progress in Britain’s talks with Brussels on its withdrawal from the European Union. Currency strategists weren’t brimming with optimism on how the next stage of talks will go, but most do not […]

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Mark Carney speaks at lunchtime

The FTSE 100 is called to open flat to slightly lower this morning following the overnight performances on Wall Street and in Asia which saw the US Senate pass the proposed tax reforms but the bill is being sent back to the House of Representatives for a further vote before it can be signed off […]

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The week ahead

Last week ended negatively for the Pound, even though the UK and EU are now moving to the next phase of negotiations- the fact that this next phase will be more “testing” than the first has caused the Pound to be sold off as investors are still not confident. Another major event last week was […]

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The week ahead

GBPEUR exchange rates hit 1.1490 while GBPUSD exchange rates went above 1.35 on Friday morning following the UK Government managing to sort out the Irish border issues and beginning negotiations for Brexit. These exchange rates lasted around 2 hours until EU officials stated that trade negotiations could not officially begin until Brexit was done (2019) […]

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