Posts by Currency Global

Bank of England leaves rates on hold amid Brexit uncertainty

Hong Kong

STERLING The Bank of England voted 9-0 to leave the Bank Rate on hold last week but did mention rising uncertainty related to Brexit. The release promoted only a brief drop in Sterling with GBP/USD later topping out at a six-week high on Friday at 1.3144. Brexit related headlines were mixed although the most notable…

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EU leaders ready to give Barnier mandate to close Brexit deal

London

STERLING Sterling hit a three week high versus the Euro on Friday (GBP/EUR at 1.1211) after EU Brexit Minister Barnier struck a notably more conciliatory tone on Brexit negotiations. There has also been reports over the weekend that the EU are preparing to give Barnier a mandate to get a deal done. Reaction to this…

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Pressure increases on UK PM May as critics tear into her Brexit strategy

Currency Global Market News

STERLING Sterling has begun the week as the G10 underperformer after Brexit related uncertainty intensified over the week – EU Brexit Minister Michel Barnier has been highly critical of Prime Minister Theresa May’s Chequers proposal. However, the PM insists she will not allow compromises to her Brexit strategy, vowing the nation’s interests must be adhered…

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May says no-deal Brexit “not the end of the world”

Currency Global

  STERLING GBP/USD has edged above 1.29 today although any upside in Sterling is likely to remain limited by a lack of progress in Brexit negotiations. The UK government unveiled the impact of a no-deal Brexit last week but officials still maintain they expect to reach an agreement with the EU. Looking ahead, UK house…

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Hunt warns odds of a no-deal Brexit have increased

Currency Global Brexit

STERLING Sterling fell to its lowest level against the US Dollar since last June on Wednesday at 1.2662 mid-market. The pair nudged back above $1.27 relatively swiftly however with stronger-than-expected CPI and retail sales data providing support. There was not much to cheer on the Brexit front with UK Foreign Minister Hunt warning that the…

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No-deal Brexit?

STERLING Sterling was one of the G10 underperformers last week with Brexit related uncertainty the main talking point amid the rising prospect of a no-deal scenario. Recent dovish rhetoric from the Bank of England may also still be in play while Friday’s data barrage was largely in line with expectations. GBP/USD dropped through $1.28 on…

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Theresa May warns UK to get ready for no-deal Brexit

  Theresa May is organising a meeting of her cabinet ministers to prepare the UK for a no-deal Brexit at the start of September. To date, negotiations have been extremely slow with two key issues preventing further progress: the prime ministers proposal for a new free-trade area and how to avoid a hard border in…

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Sterling under pressure as Carney flags no-deal Brexit

    STERLING Sterling was volatile last week after the Bank of England decided to hike interest rates by 25 basis points. After the widely expected hike, the pound initially rose but lost ground as Governor Carney struck a dovish tone during the press conference, highlighting the gradual path of future increases and heightened Brexit…

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