Biggest daily rise for GBP


Biggest daily rise for GBP

Sterling consolidated gains today, a day after posting its biggest daily rise in nearly two months, as investors trimmed some bearish bets before a parliamentary debate over the government’s European Union repeal bill. Sterling remains very headline-sensitive to politics but the protracted weakness in the currency may start to play a bigger role in central […]

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UK Economy is on a decline

Britain’s economy is losing momentum as worries about Brexit mount, according to a survey which showed growth in the country’s dominant services sector in August was at its weakest in nearly a year. The Services Purchasing Managers’ Index fell to 53.2 in August from 53.8 in July and below the median forecast of 53.5 in […]

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Sterling hits fresh new lows

Sterling fell to a new two-month low against the dollar today as the lack of any major economic data encouraged investors to add bets against the British currency. We have been quite bearish about the British pound for some time and I think this trend is justified given its worsening fundamentals such as a widening […]

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Strong Eurozone data hits Sterling

Sterling fell briefly below $1.28 for the first time since late June today and deepened its recent losses against the euro as gloom over Britain’s economic prospects and the Brexit process encouraged investors to push the pound lower. Sterling, which has fallen more than 3 percent against the dollar since the start of August, was […]

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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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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 Unemployment falls to lowest in 42 years

Britain’s unemployment rate unexpectedly fell to its lowest since 1975, official data showed this morning. The unemployment rate in the three months to the end of June fell to 4.4 percent, against the average forecast for it to hold at 4.5 percent in a poll of economists. The figures on wage growth showed the challenge […]

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Pound starts week under pressure

The Pound has remained under pressure over the last week due to lack of political developments regarding Brexit & weaker data showing that the UK economy is, in fact, contracting at the moment. On Friday, the GBPEUR exchange rate closed under 1.10 for the first time in a long while- Which isn’t a good sign […]

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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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