Sterling remains weak despite positive data


Sterling remains weak despite positive data

Britain unexpectedly posted its first budget surplus for any July since 2002, boosted by strong income tax payments, according to official today. The surplus in July stood at 184 million pounds, compared with last year’s 308 million pound deficit, the Office for National Statistics said. The figures were boosted by a 10.6 percent year-on-year rise […]

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Sterling continues to struggle this morning

Sterling edged back this morning towards an almost 6-week low against the dollar as growing doubts around the progress of Brexit talks with Europe continued to weigh on the currency. Britain is due to release more information this week to outline its strategy positions in the divorce talks, with ministers striving to head off suggestions that negotiations […]

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Pound falls against Euro yet again

Britain’s pound fell against the euro again today and was poised for a third consecutive week of losses as a global selloff in risky assets prompted investors to cut bets after a week of tepid U.K. data. With growing market expectations that the Bank of England is unlikely to raise interest rates over the coming […]

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UK Retail Sales better than expected

Pound held its ground this morning ahead of a third day of monthly data on the economy that comes amid growing noise around the conduct of Brexit negotiations with Europe. Sterling fell to its weakest against the euro in 10 months on Wednesday and is trading around a five-week minimum against the dollar. It has […]

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UK Inflation Unchanged

British consumer price inflation unexpectedly held steady last month as fuel prices fell amid other signs that the squeeze on households’ spending power may slowly be starting to level off. Official figures today showed the pace at which manufacturers’ raw material costs are rising slowed by the most in over five years as the initial […]

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Sterling near 3 week low

Sterling held near a three-week low against the dollar today as investors grew wary about the outlook of the British economy after a mixed bag of data this week. The July bounce in sterling was on some expectations that the Bank of England will increase interest rates at its last policy meeting, but with fundamentals […]

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UK Data worse than expected this morning

British industrial output unexpectedly picked up in June after oil producers delayed normal seasonal maintenance, but falling car production and a slide in construction bode poorly for future months. Britain’s economy showed only sluggish growth in the first half of 2017 as consumers battled with higher inflation triggered by last year’s vote to leave the […]

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Sterling slightly up today

Sterling was up against the euro and the US dollar, after the US president warned North Korea faced “fire and fury” from their attempts to build nuclear weapons that could reach America. The escalating tensions last night sent worries through US stock markets, with stocks in Asia also plunging overnight. As a result, Europe was […]

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Sterling steadies after recent big losses

Sterling steadied this morning after posting its biggest four-day decline in two months against the dollar as investors grew bearish about the outlook of the economy. The British pound was broadly flat against the dollar after weakening 1.4 percent in the last four sessions. It was the biggest four-day losing streak since mid-June, according to […]

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UK Services slightly better – All eyes on BoE at 12PM

The exchange rates are listed at the bottom of this article, please note the rates are for indication only. For live quotes contact us vis email or phone. Britain’s economy looks set for “steady but sluggish” growth over the coming months, after a closely watched business survey showed activity in the dominant services sector picked […]

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