UK Inflation surges
- Posted by Shyam Gokani in Uncategorised
- October 18, 2016
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British inflation recorded its sharpest jump in more than two years in September, even without any direct evidence of the weaker pound pushing up prices, official figures showed this morning. Annual consumer price inflation rose to 1.0 percent from 0.6 percent in August, the highest level since November 2014 and the biggest jump from one […]
READ MORESterling declines against the Dollar & Euro
- Posted by Shyam Gokani in Uncategorised
- October 17, 2016
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Sterling is below $1.22 this morning and weakened against the euro, hurt by rising gilt yields and media reports of disagreements between the Chancellor and his cabinet colleagues over the terms of Britain’s exit from the EU. The Daily Telegraph said Phillip Hammond could quit his post after he was excluded from government meetings because […]
READ MORESterling drops due to high court legal bid
- Posted by Shyam Gokani in Uncategorised
- October 13, 2016
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Sterling was near a record low in trade-weighted terms yesterday as focus turned to the High Court which will hear a legal bid to force the British government to seek parliamentary approval to trigger the formal Brexit process. After a steep sell-off in the last two weeks caused by uncertainty over Brexit, the pound surged […]
READ MORESterling slightly gains
- Posted by Shyam Gokani in Uncategorised
- October 12, 2016
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The recently buoyant dollar came under pressure in Asian trading on last night, as sterling partially rebounded from its dramatic losses in the previous session. The pound was up 1.5 percent at $1.2301, after tumbling as low as $1.2086 on Tuesday, heading towards a 31-year low of $1.1450 hit on Friday as investors feared the […]
READ MOREFresh lows for the pound today
- Posted by Shyam Gokani in Uncategorised
- October 11, 2016
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Sterling fell back below $1.23 on Tuesday, trading down 0.6 percent on day as it continued to suffer from concerns about the economic fallout of Britain’s planned exit from the European Union. Trade-weighted sterling hit a nearly-eight-year low of 74.0 at the Bank of England’s first morning print of the index, which measures the pound’s […]
READ MORESterling losses continue
- Posted by Shyam Gokani in Uncategorised
- October 10, 2016
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Sterling’s trade-weighted index fell to its lowest since early 2009 this morning, extending hefty losses seen last week, on deepening worry about an adverse impact on the British economy from its exit from the European Union. The currency was slightly calmer than Friday when a “flash-crash” wiped out a tenth of its value in a […]
READ MOREPound crashes to 31 year low
- Posted by Shyam Gokani in Uncategorised
- October 5, 2016
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A three-day decline in the pound after U.K. Prime Minister Theresa May set a date to start the process of leaving the European Union has left sterling trading at its weakest level versus the euro since 2011. The pound reached a 31-year low versus the dollar amid concern Britain is headed for a so-called hard […]
READ MOREPound plummets on brexit news
- Posted by Shyam Gokani in Uncategorised
- October 4, 2016
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Sterling slid to its lowest in more than three decades against the dollar on Tuesday, on growing fears that Britain’s looming departure from the European Union will hit the economy. Sterling had skidded more than 1 percent on Monday on the back of Prime Minister Theresa May’s announcement a day earlier that the formal process […]
READ MOREUK Mortgage approvals drop off
- Posted by Shyam Gokani in Uncategorised
- September 29, 2016
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British mortgage approvals fell to their lowest level since November 2014 last month as the housing market continued to slow after June’s vote to leave the European Union, Bank of England data showed this morning. The BoE figures also showed lending to consumers continued to grow rapidly, expanding at a rate close to the 10-year […]
READ MOREBrexit worries continue to control the pound
- Posted by Shyam Gokani in Uncategorised
- September 27, 2016
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Fear of a “hard” Brexit that would see Britain lose access to Europe’s single market and erect tough barriers to immigration and trade kept sterling under pressure below $1.30 on Tuesday in a week short of an alternative domestic focus for markets. Scotland’s external affairs minister Fiona Hyslop was the latest to say on Monday […]
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