Sterling hovers around $1.30


Sterling hovers around $1.30

Sterling steadied just above $1.30 today, unable to break out against a broadly weaker dollar as worries over Brexit and the pace of UK economic growth swirl. The pound recovered from its worst week against the euro in nine months on Monday as investors took profit on gains for the single currency and ministers talked […]

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UK Data Disappoints Again

Growth in Britain’s construction industry slowed in June, adding to signs that the economy might be struggling to regain much momentum after a lacklustre start to the year, a survey showed on this morning. The Markit/CIPS UK Construction Purchasing Managers’ Index fell to 54.8 from May’s 18-month high of 56.0, slightly below the median forecast […]

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Pound Rebounds

Sterling hit a six-week high above $1.30 today, close to its highest levels in nine months, on bets that British interest rates could be hiked in the coming months. The pound has risen around 3.5 percent against the dollar since the start of April — its best quarterly performance in two years and its second […]

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Pound hits $1.30 after positive UK Data

Sterling climbed close to $1.30 today, hitting its highest since before Britain’s parliamentary elections, as investors brought forward their expectations for when the Bank of England would begin to tighten monetary policy. BoE Governor Mark Carney said on Wednesday that a rise in interest rates was likely to be needed as the economy comes closer […]

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Sterling drops to 7 month lows against Euro

Sterling hit a seven-month low to the euro this morning, losing ground to renewed strength in the single currency after European Central Bank President Mario Draghi hinted the days of the bank’s stimulus programme are numbered. Compared to a recovery against the dollar after its 2 percent drop following the British elections, the pound has […]

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What will affect Sterling this week?

Last week was pretty underwhelming as the Prime Minister is still yet to form her Government, and it seems Brexit negotiations have started pretty smoothly (Not sure how long it will last though!). Only a week ago, the Conservative Party said that if Theresa May went for a “Soft Brexit” then they will “Oust” her […]

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Will We See A UK Rate Hike Soon?

Sterling gained by almost half a percent against the dollar today, helped by a shift in expectations for interest rates that has some in the market backing the Bank of England to raise borrowing costs within months. Analysts on Thursday flipped to calling for a rise in rates within six months, after the defection over […]

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Sterling will stay under pressure

Sterling gave back early gains against the dollar to trade flat today, back under pressure after British general elections that yielded no clear majority for any party and threatened to undermine Brexit talks later this month. Prime Minister Theresa May reappointed most of her ministers on Sunday but brought a Brexit campaigner and party rival […]

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All Eyes On Thursday

In Britain, the latest opinion poll, by Survation for ITV television, showed Prime Minister Theresa May’s lead over the opposition Labour Party holding at just 1 percentage point ahead of the election. The dollar hit a six-week low against the safe-haven yen on Tuesday as caution mounted ahead of Britain’s election, a European Central Bank […]

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UK Construction & Manufacturing Boost UK Economy

British construction activity grew at its fastest rate since the end of 2015 last month, as a pick-up in housebuilding helped builders shake off a lack lustre start to the year, a survey showed this morning. The Markit/CIPS construction purchasing managers’ index (PMI) jumped to 56.0 from 53.1, its highest since December 2015 and above […]

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