Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
GBPSterling remained extremely volatile yesterday morning as the Brexit rumour-mill churned and speculation that Theresa May could delay or downgrade today’s meaningful vote in the House of Commons and risk being deposed. The Pound regained ground in the afternoon amid speculation that “modified text” had been agreed between the EU...
VIEW FULL ARTICLEGBPBrexit negotiations are dwindling as we approach the critical date of March 12th whilst, due to this, uncertainty continues to undermine the Pound. GBPUSD sank nearly 1% to record its largest single-day decline on Friday last week.
VIEW FULL ARTICLEGBPYesterday could not please the Sterling market as various news outlets conveyed the EU-UK differences on the Irish backstop, which could be the reason for delivering a no-deal Brexit. There are now fewer chances of having an agreement before next week’s British parliament vote on the UK PM Theresa May’s...
VIEW FULL ARTICLEGBPSterling spent most of Wednesday's trading session in the negative territory and was being weighed down by reemerging Brexit uncertainties. Construction PMI dropped to the contraction territory in February, coming in at 49.5 from 50.6, all adding to the ongoing deterioration in the domestic fundamentals.
VIEW FULL ARTICLEGBPThe Pound is trading in the lower part of the 1.3100 level against the Dollar. The primary driver of the most recent slide stems from talks in Brussels. UK Attorney General Geoffrey Cox and Brexit Secretary Steven Barclay met Chief EU Negotiator Michel Barnier.
VIEW FULL ARTICLEGBPOverall, Sterling was hampered by a lack of positive rhetoric yesterday, with no evidence that Prime Minister May had made headway in securing parliamentary support. Attorney General Cox denied that he had given up attempts to force a specific time frame to end the backstop, but uncertainty prevailed.
VIEW FULL ARTICLEGBPThe UK PMI manufacturing index declined to 52.0 for February from a revised 52.6 previously and in line with consensus forecasts. Brexit uncertainty and preparations continued to have a big impact with further very strong inventory building of raw materials.
VIEW FULL ARTICLEGBPSterling maintained a firm tone yesterday in line with the strength seen at the beginning of the week. However, the Pound was unable to secure further gains as pressure for profit-taking increased with further selling interest above the 1.3300 level against the Dollar.
VIEW FULL ARTICLEGBPWith the markets perceiving a more optimistic Brexit stance, Sterling continued to gain across the board. The gains were underpinned by further expectations that a ‘no-deal’ outcome would be ruled out within parliament and the trade-weighted index strengthened to a ten-month high.
VIEW FULL ARTICLEGBPBank of England (BoE) Governor Carney’s testimony to the Treasury Select Committee was largely centred on the implications of a no-deal Brexit outcome but the market was unmoved, preferring to focus on political manoeuvring.
VIEW FULL ARTICLE