Posts Tagged ‘Euro’
It’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…
Read MoreMerkel’s election setback
STERLING GBP/USD broke below 1.28 on Friday to its lowest level since August 20th as Brexit related uncertainty took its toll. Reports on Friday suggested that inter-cabinet talks had stalled in the UK as lawmakers cannot agree on how to proceed in negotiations. Chancellor Hammond will deliver the Budget at 3:30pm today for the last…
Read MoreEU juggling Brexit and their Italian counterparts
STERLING Sterling fell sharply last week in response to weaker than expected CPI and retail sales data released on Wednesday and Thursday respectively. GBP/USD reached a two-week low on Friday at 1.3068 before rising into the weekend on positive Brexit headlines, but is on the back foot today amid reports that Prime Minister Theresa May…
Read MoreBrexit deal to happen this quarter, according to the EU
STERLING GBP/USD dropped back below 1.31 this morning having crept up to its best level since September 27th overnight at 1.3134. Sterling has failed to derive much support from a raft of Brexit related press over the weekend, including comments from EU Commission President Juncker who said the chance of a Brexit deal has risen…
Read MoreEuro slides against Sterling
STERLING Sterling got off to a slow start to the trading week with most UK markets closed yesterday and little Brexit related activity over the weekend. Recent Bank of England rhetoric has also been relatively uneventful with Carney sticking to his view last week that the first-quarter slowdown was temporary. Investors will be on the…
Read MoreSterling slides to this year’s low
STERLING Sterling found some support towards the end of last week amid reports that the UK could remain in the customs union until 2020. Earlier in the week Theresa May is reported to have said that Brexit negotiations are at an impasse because neither of her current options for a customs deal with the EU…
Read MoreBank of England keeps interest rate at 0.5%
STERLING Although Sterling finished Friday on the front foot, the UK currency took a hit earlier in the week after the Bank of England turned a touch more dovish. Policymakers said they expect inflation to fall back to target faster than previously expected and see the need for only limited tightening over the forecast horizon.…
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