Posts Tagged ‘Dollar’
US-China trade talks set to resume
STERLING The Pound hit its lowest level against the US Dollar in over two-weeks on Thursday at 1.2854 after the Bank of England voted 9-0 to leave the Bank Rate on hold at 0.75%. Growth forecast’s they predicted only three months ago were revised lower from 1.7% to 1.2%. The Pound strengthened during the press…
Read More‘Plan B?’
STERLING GBP/USD is nursing a small loss in Europe this morning having risen to a three-month high on Friday at 1.3214. Investors continue to fret around the risk of a no-deal Brexit with reports over the weekend suggesting Ireland have ruled out any changes to the backstop. Chairman of the 1922 committee, Graham Brady, has…
Read MoreMay’s progress limited to the removal of £65 fee for EU citizens
STERLING With no hope of cross-party talks, Theresa May now needs to get the EU to rewrite the Irish backstop, something that the bloc has repeatedly refused to do. Yesterday’s statement to the Commons showed that there has been no substantial progress since last week’s historic vote, where the PM lost by a landslide 230…
Read More’Meaningful vote’ to take place tomorrow
STERLING Sterling rose last week with GBP/USD topping out at a seven-week high on Friday at 1.2867. Gains on Friday were spurred by reports that cabinet ministers were looking to delay Brexit. Parliament are still scheduled to vote on Theresa May’s deal tomorrow with weekend press reports suggesting a Plan-B is being drawn up as…
Read MoreA vote for a vote for a vote
STERLING At 11:20am this morning, the Prime Ministers spokesperson confirmed the parliamentary vote was still going ahead tomorrow. Just thirteen minutes later, leaks from inside the government to the contrary had GBP selling off against all its major peers, currently down 1% against the US Dollar and 0.65% against the Euro for the day. To…
Read More3 French hens, 2 turtle doves and a Sign off on the Treaty?
STERLING Had edged higher this morning but then fell a cent against the US Dollar in two hours as Theresa May refused to rule out a second referendum and stated ‘’we can be better off without a deal’’. The Northern Irish DUP party threatened to withdraw their support for the Prime Minister in a confidence…
Read MoreIt’s not EU, it’s me.
STERLING The pound has kicked off this week with a small gain across the board as investors welcomed news that the European Council has endorsed Theresa May’s Brexit deal in a meeting yesterday morning that according to many reports, only lasted 38 minutes. Jean-Claude Juncker, President of the European Commission warned that ‘’those who think…
Read MoreI’m a Brexit Secretary, Get Me Out Of Here!
STERLING Where do we start…? Sterling fell across the board last week as Prime Minister Theresa May struggled to gain support for her draft Brexit agreement with the EU amid speculation of a possible no-confidence vote. The resignation of UK Brexit Minister Dominic Raab on Thursday was the catalyst for several other senior ministers to…
Read MoreBrexit again…? Of course!
STERLING Sterling kicked off the week as the weakest of the G10 currencies amid reports that Prime Minister Theresa May had cancelled plans for an emergency cabinet meeting today to approve a Brexit deal in the face of strong opposition from her own cabinet and the EU. Negotiations are ongoing, however if there is no…
Read MoreDeal or No Deal?
STERLING Last week’s Bank of England rate decision and inflation report provided no real surprises although the Pound still finished the day sharply higher on Brexit optimism – reports suggested that UK Prime Minister Theresa May had reached a deal with the EU over financial services although this was later denied. GBP/USD hit a fresh…
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