Economy slows but not as much as expectations
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Prime Minister, Referendum, Retail Sales, Sterling, UK
- October 27, 2016
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Britain’s economic growth slowed only slightly in the three months after the Brexit vote, official data showed this morning defying warnings of a heavy hit and further diminishing the likelihood of the Bank of England cutting rates next week. The economy grew by 0.5 percent in the July-September period, less rapid than the unusually strong […]
READ MORESterling on the up
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Prime Minister, Referendum, Sterling, UK
- October 19, 2016
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Sterling slipped back a little after its strongest one-day gains in over three months on a trade-weighted basis, having been boosted after a UK government lawyer said parliament would have to ratify any deal to take Britain out of the EU. Having fallen to a record low last week on worries that Britain would undergo […]
READ MOREPound has futher room to drop
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Prime Minister, Referendum, Sterling, UK
- October 6, 2016
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Britain’s pound dipped below $1.27 for the first time since June 1985 yesterday, with fears of a ‘hard’ Brexit from the European Union also pushing the currency to a five-year trough against a broadly stronger euro. Sterling has been buffeted for a fortnight by worries that Britain will prioritise curbing immigration over promoting trade in […]
READ MORESterling drops after May’s Brexit comments this weekend
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, Dollar, Economy, EUR, GBP, Prime Minister, Retail Sales, Sterling, UK
- October 3, 2016
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Sterling slid to a three-year low against the euro and a three-month low versus the dollar this morning, after a March deadline was set for the start of the formal process that will split Britain from the European Union. Britain’s Prime Minister Theresa May told her Conservative party’s annual conference on Sunday that she was […]
READ MORESterling fights back after losses on Friday
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Prime Minister, Sterling, UK
- September 19, 2016
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Sterling rose against a weaker dollar this morning, although gains are still likely to be held in check by concerns about the uncertainty generated by Britain’s vote to leave the European Union and expectations of more interest rate cuts in coming months. The Bank of England kept rates at record lows on Thursday but signalled […]
READ MOREUk Manufacturing drops, Carney due to speak
- Posted by Shyam Gokani in Bank of England, Brexit, Currency, Economy, EUR, Mark Carney, Sterling, UK
- September 7, 2016
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British manufacturing output fell in July at the fastest pace in a year, confirming earlier signs that factories took an immediate hit after the vote to leave the European Union, official data showed on this morning. Overall industrial output unexpectedly rose thanks to strong oil and gas production, the Office for National Statistics said. Output […]
READ MORESterling continues to surprise
- Posted by Shyam Gokani in Brexit, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- September 6, 2016
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Sterling rose to near a 7-week high against the dollar on today, amid expectations that Britain had probably dodged a recession in coming months with the economy showing signs of resilience in the aftermath of the shock Brexit vote. The pound also hit a four-week peak against the euro, with sentiment bolstered by the recent […]
READ MOREPound soars again today
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, Sterling, UK
- September 5, 2016
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Sterling jumped to a 7-week high against the dollar today, and hit a one-month peak against the euro after a survey showed Britain’s services industry bounced back strongly in August from a slump triggered by Brexit. The Markit/CIPS Purchasing Managers’ Index (PMI) for the dominant services sector jumped to 52.9 in August from July’s seven-year […]
READ MOREUK Construction figures better than expected
- Posted by Shyam Gokani in Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Prime Minister, Sterling, UK
- September 2, 2016
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Sterling and Britain’s blue chip stock index rose to a day’s high this morning after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 49.2 from 45.9 in July, still […]
READ MORESterling slips against Dollar
- 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 30, 2016
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Sterling slipped back towards $1.30 on Tuesday on divergent expectations for monetary policy, with investors increasingly betting U.S. interest rates could rise by year-end while British rates may be cut again. With London markets closed on Monday for a national holiday, Tuesday marked the first full day of trading there since U.S. Federal Reserve Chair […]
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