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The Pound gained against the Dollar as market participants continued to digest recent tepid results from across the pond. GBP is trading with apparent support around the 1.2130 against the Greenback, as fears of a ‘hard Brexit’ seem to have lessened. The Pound held just above 1.1100 against the Euro…
Sterling recovered slightly versus the Dollar during yesterday’s European trading session amidst all of the uncertainty surrounding the UK’s economy. The SNP’s Nicola Sturgeon has announced a new Scottish Independence Referendum Bill which is likely to maintain a very fragile tone for the Pound. Also, the High Court is considering…
The Pound’s recovery ran out of steam yesterday, settling around 1.2200 against the Dollar and 1.1100 against the Euro. Bank of England deputy governor Cunliffe made no effort to talk up Sterling in his speech yesterday; he warned of the potentially negative effects of Brexit-related uncertainty in the financial sector….
Sterling had a torrid time yesterday afternoon, plummeting 2 cents to 1.2090 against the Dollar and 1.094 against the Euro. After four days of losses, the Pound’s trade-weighted index fell again, this time to its lowest level since 1990. In a Treasury Select Committee testimony, Bank of England MPC member…
Yesterday heralded a quieter start to the week after Sterling’s “flash crash” on Friday. Conditions were generally calmer but Sterling sentiment remains poor. Fears of a ‘hard’ EU exit with no single market access is still the main downward pressure on the Pound and tough political rhetoric will continue to…
The UK Manufacturing Production index year-on-year has fallen from a previous high of 0.7% to a low of 0.5%. Conversely, the month-on-month manufacturing figure climbed from negative territory to 0.2%. The Pound’s trade-weighted index, an average of the exchange rates with the currencies of Sterling’s most important trading pairs, has…
The Pound suddenly plummeted to near-parity against the Euro and tumbled by around six percent versus the US Dollar in overnight trade, shocking the global markets. It appears that the decline is being dubbed a “flash crash”. Some market participants are blaming French President Hollande’s “hard-Brexit” comments for the dramatic…
Versus the Dollar, the Pound entered the beginning of yesterday’s New York session on a not so positive note, with fresh evidence supporting solid US services data which boosted the US currency. The Institute of Supply Management (ISM) non-manufacturing index bounded to 57.1 from a pre-month base of 51.4, which…
Whilst the FTSE soared yesterday Sterling suffered with a break below 1.2800 against the Dollar and against the Euro the UK currency fell as low as 1.1366. The UK construction PMI report was stronger than expected with an increase to six-month highs of 52.3 from 49.2 the previous month. However,…
Sterling suffered yet another sell-off yesterday morning, slumping as low as 1.1440 against the Euro and 1.2820 vs US Dollar. Investors have been put off by Theresa May’s apparent calm attitude to leaving the single market. It seems that she prefers to focus on immigration and UK sovereignty rather than…