Pound down against all currencies
- Posted by Shyam Gokani in Uncategorised
- September 26, 2016
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Sterling was weaker this morning, trading near a five-week low, as lingering worries over Britain’s exit from the European Union drove investors to sell the currency that has steadily lost ground in the past three straight weeks. Sterling was knocked down late on Thursday after British Foreign Secretary Boris Johnson said he expected formal divorce […]
READ MORESterling retracts after recent gains
- Posted by Shyam Gokani in Uncategorised
- September 23, 2016
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Sterling slipped back towards $1.30 today, ending the week in much the same place as it started, with worries over Britain’s exit from the European Union keeping pressure on the currency. The pound had jumped back over $1.31 yesterday afternoon, after Bank of England policymaker Kristen Forbes said she saw no case for a further […]
READ MORESterling bounces back
- Posted by Shyam Gokani in Uncategorised
- September 22, 2016
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Sterling rebounded from a five-week low against the dollar this morning, boosted by renewed weakness in the greenback after the Federal Reserve kept monetary policy steady and projected a less aggressive path for rate hikes in coming years. While the Fed strongly signalled it could tighten monetary policy by the end of the year, policymakers […]
READ MORESterling drops against the Euro again
- Posted by Shyam Gokani in Uncategorised
- September 20, 2016
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Sterling steadied against a broadly weaker dollar this morning, in the run-in to U.S. and Japanese central bank meetings that were taking the market’s focus temporarily off the latest concerns over the shape of Britain’s exit from the European Union. The pound had staged a modest recovery on Monday after slipping below $1.30 last week […]
READ MORESterling slips against Euro & Dollar
- Posted by Shyam Gokani in Uncategorised
- September 16, 2016
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Sterling slipped against the dollar and euro today and is on track for its worst week in five on a trade-weighted basis, as investors worried about Britain’s vote to leave the European Union and bet on another cut in interest rates this year. The Bank of England kept rates at their record lows at yesterday’s […]
READ MOREUK Retail Sales boost pound
- Posted by Shyam Gokani in Uncategorised
- September 15, 2016
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Sterling rose briefly on Thursday after data showed British retail sales fell at a much slower pace than expected in August, although expectations that the Bank of England is likely to look through the data and keep policy accommodative checked gains. Retail sales volumes edged down 0.2 percent on the month in August after jumping […]
READ MORESterling boosted by UK Jobs Data
- Posted by Shyam Gokani in Uncategorised
- September 14, 2016
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Sterling rose this morning, boosted by data that showed resilience in Britain’s labour market to fallout from June’s Brexit vote. The jobless rate in the three months to July was 4.9 percent, unchanged from the three months to June while the number of people in work rose by 174,000, the Office for National Statistics said. […]
READ MOREUK PMI Manufacturing boosts the pound!
- Posted by Shyam Gokani in Uncategorised
- September 1, 2016
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The Markit/CIPS Purchasing Managers’ Index (PMI) – a closely watched gauge of factory activity – jumped to a 10-month high of 53.3 in August after tumbling to a three-year low in July after the referendum, which was revised down to 48.3 from 48.2. The five-point monthly surge was the joint-largest in the manufacturing survey’s near […]
READ MOREUK consumer confidence on the up
- Posted by Shyam Gokani in Uncategorised
- August 31, 2016
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Sterling rose this morning, boosted by improved consumer confidence and rising British house prices in August, adding to growing signs that the economy was holding up well despite a shock vote to leave the European Union in June. Market research firm GfK said its gauge of consumer confidence rose to -7 in August from -12 […]
READ MOREUK GDP in line with forecasts
- Posted by Shyam Gokani in Uncategorised
- August 26, 2016
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Sterling hovered near a three-week high against the dollar on Friday, supported by solid growth and business investment data that helped offset worries over the impact of Britain’s shock vote to leave the European Union. The pound was on track for its best weekly performance in six weeks against the single currency, having hit a […]
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