Sterling up this morning
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- August 22, 2016
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Sterling inched up on today after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain’s economy was faring better than expected following its vote to leave the European Union. The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding […]
READ MORESterling hits further lows
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- August 12, 2016
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Sterling hovered near a one-month low this morning on expectations that poor economic data will lead the Bank of England to ease monetary policy again in the coming months to cushion the economy from a sharp downturn. A tick up in U.S. Treasury yields and more signs of weakness in Britain’s housing market had pushed […]
READ MORESterling back up over 1.30 against the Dollar
- Posted by Shyam Gokani in Uncategorised
- August 10, 2016
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Sterling back above $1.30 this morning, a day after hitting a one-month low, as a broadly weaker greenback offset worries about falling gilt yields and a shortfall in the Bank of England’s first round of new purchases of government debt. After a week in which sterling has suffered from the BoE’s aggressive moves to ease […]
READ MOREPound slips on the back of weak UK manufacturing data
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Inflation, Sterling, UK
- August 9, 2016
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British industrial output grew at the fastest rate since 1999 in the second quarter of this year, with “very few” respondents reporting an impact from uncertainty around June 23’s vote to leave the European Union. However, official figures showed Britain’s trade deficit surged in June, with the economy sucking in a record amount of imports […]
READ MORESterling weakens further against the dollar
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- August 8, 2016
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Sterling traded near its weakest in three weeks against the dollar this morning, hurt by widening rate differentials between the United States and the UK after robust jobs numbers strengthened speculation of a rate hike by the Federal Reserve. In contrast, the Bank of England kick started its quantitative easing programme today, having lowered interest […]
READ MORESterling drops due to rate cut and QE Programme
- Posted by Shyam Gokani in Uncategorised
- August 5, 2016
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Sterling steadied this morning, recovering just over 0.2 percent against both the dollar and euro after the Bank of England drove its biggest daily losses in a month with a package of new stimulus for Britain’s slowing economy. The Bank’s cuts in its growth forecasts for next year and its hints of more easing to […]
READ MOREWeak PMI data in the UK today
- Posted by Shyam Gokani in Uncategorised
- August 3, 2016
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Sterling retreated from a three-week high against the dollar today ahead of the third and most important of a batch of purchasing manager surveys that offer the best clues so far of the blow to the economy from June’s Brexit vote. GBP Markit/CIPS UK Services PMI 47.4 47.4 47.4 GBP Markit/CIPS UK Composite PMI 47.5 […]
READ MORESterling could drop further this Thursday
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- August 2, 2016
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The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. However, the result was better than all forecasts in a poll of economists. The numbers nevertheless provide another sign that Britain’s economy is at risk of recession after June’s vote to leave […]
READ MOREUK expected to cut rates next Thursday
- Posted by Shyam Gokani in Uncategorised
- July 29, 2016
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Sterling inched up against the dollar this morning, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more […]
READ MORESterling falls against the Euro
- Posted by Shyam Gokani in Uncategorised
- July 28, 2016
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Sterling fell more than half a percent against a broadly stronger euro today, 3,000 job cuts at British bank Lloyds underlining concerns that the UK economic outlook will only worsen in the months ahead following June’s Brexit vote. Minds are already turning to next week’s Bank of England meeting, which is widely expected to cut […]
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