Posts Tagged ‘Market news’

STERLING Sterling was one of the weakest of the G10 currencies last week. The currency got off to a slow start after UK service PMI wrapped a trifecta of weaker-than-expected PMI releases. There was also chatter in the weekend press that UK Prime Minister Theresa May will face a possible coup. Focus then turned to…

STERLING Sterling was a touch softer on balance last week. Losses were seen on Friday after a notably soft reading for UK construction PMI which fell to a 4-month low at 50.2. The currency also dropped after EU officials said the EU Commission have rejected the City of London’s proposal to strike a post-Brexit free…

STERLING Sterling saw a modest strengthening on balance last week. The currency got off to a strong start on Monday after French President Emmanuel Macron suggested the UK could get a special trade deal with the EU post-Brexit. Further upside was seen on Wednesday after UK labour market data came in better-than-expected with a sizeable…

STERLING Sterling was one of the strongest G10 currencies last week. The bulk of gains came on Wednesday despite an absence of any macro releases although we heard from Bank of England MPC member Saunders who said if the economy turns out broadly in line with his outlook, it is likely that interest rates will…

STERLING Sterling was one of the strongest G10 currencies last week after a strong rally on Friday on speculation of a soft-Brexit. According to people familiar with the matter, Spanish and Dutch finance ministers have agreed to work together to push for a Brexit deal that keeps Britain as close to the European Union as…

STERLING Sterling was volatile last week although bias was seen to the upside with Brexit negotiations the focus for investors. The pound gained as it looked increasingly likely that a deal would be agreed but it was a case of ‘buy the rumour, sell the fact’ when the breakthrough was announced on Friday. In a…

STERLING Sterling was one of the stronger G10 currencies last week as both sides of Brexit negations took on a more constructive tone than in recent weeks. An increased divorce bill offer from the UK government appears increasingly likely and will hopefully unlock the next phase of talks – EU Commission President Juncker sounded confident…

STERLING Sterling softened against most of the major currencies last week. The currency began the week on the back foot after a Times article suggested that 40 Conservative MP’s are calling for Prime Minister Theresa May to step down – this number is 8 short of the amount required to trigger a leadership challenge. Weaker-than-expected…

STERLING Sterling was one of the strongest G10 currencies last week. The UK currency began the week on the front foot after optimistic remarks from UK Prime Minister Theresa May regarding Brexit and comments from US Commerce Secretary Ross on the prospects of a free-trade deal between the two countries. Further political baggage attached to…

STERLING A soft week for the Pound with the UK currency on the back foot after the Bank of England’s latest policy announcement. Despite a hawkish 7-2 vote to lift interest rates for the first time in a decade, the BoE removed the sentence about “increasing rates faster than expected,” signalled only “gradual easing” in…