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.
GBPWith 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 ARTICLEGBPBank of England (BoE) Governor Mark Carney stated that a ‘no-deal’ Brexit posed the biggest risk to financial stability, although his stance on the medium-term outlook was little more upbeat. Theresa May was reported to have made good progress with EU President Juncker on amendments to the political declaration.
VIEW FULL ARTICLEGBPThe February CBI retail sales index held at 0, just below forecasts but there were expectations of a March recovery. Sterling dipped before lunchtime and another official UK source reported that a Brexit deal conclusion was unlikely this week.
VIEW FULL ARTICLEGBPSterling was broadly unchanged as markets struggle to find direction after a week of little progress on Brexit talks. The Pound failed to move past the 1.3100 mark as the Irish backstop continues to hold up progress.
VIEW FULL ARTICLEGBPThe Confederation of British Industry reported that UK manufacturing activity had weakened in the three months to February, although forward orders rose to 6 from -1 last month and exports also strengthened slightly. The Pound dipped after three Conservative MPs resigned to join the Independent group, reducing the government’s notional...
VIEW FULL ARTICLEGBPUK employment figures impressed with a record high of 32.6m in the three months to December. Jobless claims were higher than expected but headline unemployment remained at 4.0%, the lowest since 1975. Headline annual average earnings growth was unchanged at 3.4%, fractionally below expectations of 3.5%, with the core reading...
VIEW FULL ARTICLEGBPThe Labour party’s crisis provided a temporary distraction yesterday when seven MPs resigned their party membership. Implications for the Brexit debate will be mixed, and the Pound’s reaction was limited. Underlying uncertainty has increased modestly in light of key House of Commons votes due next week.
VIEW FULL ARTICLEGBPUK Retail sales in January rose faster than expected; the annualized rate printed 4.2% against expectations of 3.4%; the biggest annual rise since December 2016. The monthly figure revealed a rise of a percentage point and core retail sales, which excludes the volatile food and energy prices, rose by 4.1%,...
VIEW FULL ARTICLEGBPBank of England (BoE) member Gertjan Vlieghe stated that he sees the pace of UK rate hiking as somewhat slower following the recent poor economic data. If a Brexit deal is reached, the degree of tightening would depend on how much Sterling appreciated, but ‘no deal’ would mean lowering or...
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