Pound soars again today
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, Sterling, UK
- September 5, 2016
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Sterling jumped to a 7-week high against the dollar today, and hit a one-month peak against the euro after a survey showed Britain’s services industry bounced back strongly in August from a slump triggered by Brexit. The Markit/CIPS Purchasing Managers’ Index (PMI) for the dominant services sector jumped to 52.9 in August from July’s seven-year […]
READ MOREUK Construction figures better than expected
- Posted by Shyam Gokani in Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Prime Minister, Sterling, UK
- September 2, 2016
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Sterling and Britain’s blue chip stock index rose to a day’s high this morning after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 49.2 from 45.9 in July, still […]
READ MORESterling slips against Dollar
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- August 30, 2016
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Sterling slipped back towards $1.30 on Tuesday on divergent expectations for monetary policy, with investors increasingly betting U.S. interest rates could rise by year-end while British rates may be cut again. With London markets closed on Monday for a national holiday, Tuesday marked the first full day of trading there since U.S. Federal Reserve Chair […]
READ MORESterling nears 3 week high
- Posted by Shyam Gokani in Brexit, Currency, Dollar, Economy, EUR, GBP, Inflation, Retail Sales, Sterling, UK
- August 25, 2016
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Sterling traded close to a three-week high against the dollar today and was on track for its best week in six, with worries over the economic impact of Britain’s vote to leave the European Union easing a little after recent better-than-expected data. The pound was also on track for its best week in six weeks […]
READ MORESterling up this morning
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- August 22, 2016
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Sterling inched up on today after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain’s economy was faring better than expected following its vote to leave the European Union. The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding […]
READ MORESterling hits further lows
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- August 12, 2016
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Sterling hovered near a one-month low this morning on expectations that poor economic data will lead the Bank of England to ease monetary policy again in the coming months to cushion the economy from a sharp downturn. A tick up in U.S. Treasury yields and more signs of weakness in Britain’s housing market had pushed […]
READ MOREPound slips on the back of weak UK manufacturing data
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Inflation, Sterling, UK
- August 9, 2016
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British industrial output grew at the fastest rate since 1999 in the second quarter of this year, with “very few” respondents reporting an impact from uncertainty around June 23’s vote to leave the European Union. However, official figures showed Britain’s trade deficit surged in June, with the economy sucking in a record amount of imports […]
READ MORESterling weakens further against the dollar
- Posted by Shyam Gokani in Bank of England, Currency, Dollar, Economy, EUR, GBP, Mark Carney, Sterling, UK
- August 8, 2016
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Sterling traded near its weakest in three weeks against the dollar this morning, hurt by widening rate differentials between the United States and the UK after robust jobs numbers strengthened speculation of a rate hike by the Federal Reserve. In contrast, the Bank of England kick started its quantitative easing programme today, having lowered interest […]
READ MORESterling could drop further this Thursday
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- August 2, 2016
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The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. However, the result was better than all forecasts in a poll of economists. The numbers nevertheless provide another sign that Britain’s economy is at risk of recession after June’s vote to leave […]
READ MORESterling looses ground after Martin Weale comments
- Posted by Shyam Gokani in Bank of England, Bremain, Brexit, Currency, David Cameron, Dollar, Economy, EUR, GBP, Inflation, Mark Carney, Referendum, Retail Sales, Sterling, UK
- July 26, 2016
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Sterling hit a two-week low on Tuesday after a Bank of England policymaker suggested a batch of weak UK data had convinced him monetary policy should be eased immediately, having last week said he needed more evidence of economic weakness first. While stopping short of openly backing a cut in interest rates or quantitative easing […]
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