Sterling Slips For Second Day
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- February 3, 2017
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Sterling fell another 0.4 percent this morning after a fall in a closely-watched services sector indicator reawakened concerns over the impact of last year’s Brexit vote on a previously resilient economy. The drop in the monthly index of service sector purchasing managers was its first since October and followed small drops in the construction and […]
READ MORESterling/Dollar Traded Above 1.27
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Sterling, UK, Uncategorised
- February 2, 2017
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Sterling rose to trade above $1.27 for the first time in seven weeks against the dollar, as investors awaited a Bank of England quarterly report that is expected to upgrade its growth and inflation forecasts. The central bank will probably try to avoid adding to speculation about a first interest rate hike in nearly a […]
READ MORESterling Continues To Gain Against A Weak Dollar
- Posted by Shyam Gokani in Brexit, Currency, Dollar, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- February 1, 2017
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Sterling pounced on a wounded dollar today, as it recovered from disappointing consumer credit data to cap its best January since 2011. It was also set to be the pound’s first positive start to the year since 2012, but it was not without difficulties as it continued to struggle against the euro and the Swiss […]
READ MOREMajors Update
- Posted by Shyam Gokani in Uncategorised
- January 30, 2017
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The BoE is widely expected to revise up its short-term growth and inflation forecasts following reassuring recent UK data, but the uncertainty surrounding soon-to-start Brexit negotiations is expected to keep it cautious. Sterling was quickly down 0.3 percent against the dollar at $1.2510 in London, having slipped off a five-week high at the end of […]
READ MORESterling Continues To Push Against Majors
- Posted by Shyam Gokani in Uncategorised
- January 25, 2017
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Sterling continues gains against major currencies this morning, pausing after a rollercoaster ride yesterday that followed a Supreme Court ruling that Britain’s government must go through parliament before starting talks to quit the EU. The pound jumped to five-week highs on Tuesday after the first sections of the ruling were read, but was then hit […]
READ MOREMay Must Get Parliament Approval For Brexit Negotiations
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Prime Minister, Referendum, Retail Sales, Sterling, UK, Uncategorised
- January 24, 2017
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The Supreme Court ruled this morning that Prime Minister Theresa May must get parliament’s approval before she begins Britain’s formal exit from the European Union. The UK’s highest judicial body dismissed the government’s argument that May could simply use executive powers known as “royal prerogative” to invoke Article 50 of the EU’s Lisbon Treaty and […]
READ MOREBrexit – A Long Way To Go
- Posted by Shyam Gokani in Uncategorised
- January 20, 2017
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Markets responded well to PM May’s speech on Wednesday with the pound surging against all its counterparts. Why wouldn’t they? May outlined a dream scenario. The ability to leave the EU, cherry pick trade agreements and elements of the EU constitution at will. If anyone was going to put together a manifesto to take to […]
READ MORESterling Steadies After A Few Volatile Days
- Posted by Shyam Gokani in Uncategorised
- January 19, 2017
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The pound steadied this morning after a few days in which uncertainty about Brexit has seen both its biggest rise in decades against the dollar and two of its heaviest slumps in months. Sterling climbed back above $1.2320, having been knocked as low $1.2254 overnight by a dollar rally after Federal Reserve head Janet Yellen […]
READ MOREMay Speaks Thus Afternoon About Brexit Plans
- Posted by Shyam Gokani in Uncategorised
- January 17, 2017
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The pound recovered from 3-month lows this morning, rising 0.7 percent against a broadly weaker dollar and 0.3 percent against the euro before a speech by Prime Minister Theresa May widely expected to lay out a “hard Brexit” scenario. Options pricing suggested markets were still preparing for large swings in the pound over the next […]
READ MORESterling Continues To Devalue – Big Few Days Coming Up
- Posted by Shyam Gokani in Uncategorised
- January 16, 2017
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Britain’s pound fell sharply this morning as concern mounted that the country was heading for a “hard” Brexit from the European Union and its single market, a day before a speech by Prime Minister Theresa May on the government’s plans. Some British newspapers have billed May’s speech on Tuesday as laying out potential major changes […]
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