Sterling continues to gain due to positive data
- Posted by Shyam Gokani in Uncategorised
- August 24, 2016
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Sterling climbed against the euro and held just below $1.32 this morning, with speculators trimming bets against the currency after recent data indicated that the economy was holding up surprisingly well after the Brexit vote. Short positions on sterling had reached a record high of 94,238 contracts in the week to Aug. 16 and traders […]
READ MORESterling gains again this morning
- Posted by Shyam Gokani in Uncategorised
- August 23, 2016
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Sterling hit a three-week high against the dollar this morning, rising above $1.32 as speculators cut bets against it after data suggested Britain’s economy was holding up surprisingly well in the aftermath of the Brexit vote. Data released by the Commodity Futures Trading Commission on Friday showed positioning is stretched, with sterling net short positions […]
READ MORESterling back up over 1.30 against the Dollar
- Posted by Shyam Gokani in Uncategorised
- August 10, 2016
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Sterling back above $1.30 this morning, a day after hitting a one-month low, as a broadly weaker greenback offset worries about falling gilt yields and a shortfall in the Bank of England’s first round of new purchases of government debt. After a week in which sterling has suffered from the BoE’s aggressive moves to ease […]
READ MORESterling drops due to rate cut and QE Programme
- Posted by Shyam Gokani in Uncategorised
- August 5, 2016
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Sterling steadied this morning, recovering just over 0.2 percent against both the dollar and euro after the Bank of England drove its biggest daily losses in a month with a package of new stimulus for Britain’s slowing economy. The Bank’s cuts in its growth forecasts for next year and its hints of more easing to […]
READ MOREWeak PMI data in the UK today
- Posted by Shyam Gokani in Uncategorised
- August 3, 2016
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Sterling retreated from a three-week high against the dollar today ahead of the third and most important of a batch of purchasing manager surveys that offer the best clues so far of the blow to the economy from June’s Brexit vote. GBP Markit/CIPS UK Services PMI 47.4 47.4 47.4 GBP Markit/CIPS UK Composite PMI 47.5 […]
READ MOREUK expected to cut rates next Thursday
- Posted by Shyam Gokani in Uncategorised
- July 29, 2016
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Sterling inched up against the dollar this morning, staying within the ranges in which it has traded for the past two weeks, as investors eyed a Bank of England meeting next week that they expect will yield the first interest rate cut since 2009. Data showing British consumer morale suffered its sharpest drop in more […]
READ MORESterling falls against the Euro
- Posted by Shyam Gokani in Uncategorised
- July 28, 2016
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Sterling fell more than half a percent against a broadly stronger euro today, 3,000 job cuts at British bank Lloyds underlining concerns that the UK economic outlook will only worsen in the months ahead following June’s Brexit vote. Minds are already turning to next week’s Bank of England meeting, which is widely expected to cut […]
READ MOREPoor UK PMI data release this morning
- Posted by Shyam Gokani in Uncategorised
- July 22, 2016
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Sterling dived and gilts rose this morning after surveys showed business activity shrinking at a fast pace after the shock Brexit vote last month, bolstering expectations the Bank of England will have to do more next month to stimulate growth. The PMI survey of services sector purchasing managers fell to 47.4 in July from 52.3 […]
READ MOREInflation rises in the UK
- Posted by Shyam Gokani in Uncategorised
- July 19, 2016
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The pound erased yesterday’s rally and was fading back below the $1.32 level, with traders focusing on today’s economic releases. As traders took profits from Monday’s upswing, the pair declined and sterling was trading 0.3% weaker against the greenback, seen around $1.3210, retreating somewhat form the daily lows of $1.3175 seen earlier during the session. […]
READ MORESterling’s biggest week since 2009
- Posted by Shyam Gokani in Uncategorised
- July 15, 2016
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Expectations of a period of relative domestic political and economic calm kept sterling on course for its best week since 2009 today, although broader risks from last month’s Brexit vote prevented a break past two-week highs above $1.34. Many analysts have recommended selling any rallies in the pound in anticipation of cuts in Bank of […]
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