Sterling recovers slightly from recent slump
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 17, 2016
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The cost of hedging against sharp swings in sterling over the next week rose to a record high this morning as the contract rolled over to capture the date for Britain’s vote on whether it wants to stay in the European Union. In the spot market, sterling recovered from 10-week lows against the dollar as […]
READ MORE7 Days to go
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 16, 2016
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For the Bank of England, Britain’s vote on its European Union membership next week means everything. The nine-member Monetary Policy Committee, led by Governor Mark Carney, will announce its decision on interest rates at noon today. Officials will probably keep the key rate at 0.5 percent, having said they will interpret economic data surrounding the […]
READ MOREBrexit – Leave camp hold 7 point lead over Remain
- Posted by Shyam Gokani in Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Referendum, Sterling, UK
- June 14, 2016
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Britain’s “Leave” campaign opened up a 7-point lead over “Remain” ahead of a referendum on membership of the European Union an opinion poll showed late last night, while the nation’s biggest-selling newspaper urged readers to vote to quit the bloc. The result of the June 23 referendum will have far-reaching consequences for politics, the economy, […]
READ MORESterling hits 8 week low – 10 days to Referendum
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 13, 2016
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The pound fell to an eight-week low today while the cost of hedging against big swings in its exchange rate against the euro over the coming month hit a record high, 10 days before Britain votes on whether to stay in the European Union. Betting markets suggest Britons will opt to remain in the EU […]
READ MOREUK Construction unexpectedly up – No effect on the rates!
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 10, 2016
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Britain’s construction output bounced back more than expected in April following surprisingly upbeat industrial data earlier this week, suggesting the economy might have started the second quarter on a firmer footing. The Office for National Statistics said construction output, which makes up 6 percent of the economy, rose 2.5 percent in April after a 3.6 […]
READ MORESterling slips due to new poll
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 9, 2016
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Sterling slipped this morning as investors ditched riskier assets in favour of safe havens such as the yen, worrying that Britain will vote to leave the European Union in a referendum in two weeks’ time. While it has recovered from lows hit earlier this year, up 3 percent on a trade-weighted basis in the past […]
READ MORESterling briefly gained on strong industrial data
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 8, 2016
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Sterling rose briefly to hit this morning’s high after data showed industrial output in Britain grew at its fastest pace in nearly four years in April, beating forecasts and wrong-footing investors who had positioned for a weak number. It gave up those gains quickly as growing uncertainty about whether Britain will remain in the European […]
READ MORESterling drops as “Leave” campaign leads
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 6, 2016
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Sterling trade-weighted index fell 1 percent to hit a three-week low today, while the cost of hedging against swings over the coming month traded at its highest since late 2008 on growing concerns over whether Britain will stay in the European Union. Polling firm TNS said on Monday that the campaign to get Britain out […]
READ MOREBrexit worries hit Sterling value
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Mark Carney, Referendum, Sterling, UK
- June 3, 2016
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Sterling was subdued this morning, shrugging aside better-than-expected services sector data and staying on track for its worst weekly performance since late March on worries about Britain’s future in the European Union. Services activity index rose to 53.5 in May from 52.3 in April. That was stronger than the median forecast of 52.5 in a […]
READ MORESterling at two-week low
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK
- June 2, 2016
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Sterling hovered above a two-week low against a basket of currencies this morning, while the cost of hedging against swings over the next month traded near its highest since 2009 on concerns over whether Britain will stay in the European Union. Construction sector survey release9 at 0930 GMT slowed to 51.2 from an expectation of […]
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