Big week for the pound
- Posted by Shyam Gokani in Uncategorised
- October 31, 2016
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Sterling slipped below $1.22 on Monday as worries about the fallout from Britain’s vote to leave the European Union outweighed reports that Mark Carney will serve a full term as governor of the Bank of England. After falling more than 6 percent against the dollar since the start of October, the pound was on track […]
READ MORESterling down further despite stronger GDP figures
- Posted by Shyam Gokani in Uncategorised
- October 28, 2016
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Sterling down further today, even though we had stronger-than-expected third-quarter GDP data failing to allay worries Britain’s vote to leave the European Union. Sterling has lost almost a fifth of its value against the dollar since the June 23 vote for Brexit, and there had been worries that the economy would also take an immediate […]
READ MOREUK Rate cut not likely
- Posted by Shyam Gokani in Uncategorised
- October 26, 2016
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Sterling recovered to around $1.22 this morning, having fallen below $1.21 the previous day, as expectations for an interest rate cut next week faded. Bank of England Governor Mark Carney prompted the strengthening by saying in a speech the BoE could not ignore the pound’s “fairly substantial” drop since the vote to leave the European […]
READ MOREWill Mark Carney’s speech help or hinder Sterling?
- Posted by Shyam Gokani in Uncategorised
- October 25, 2016
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Sterling slipped on Tuesday, weighed down by expectations that the Bank of England Governor Mark Carney could flag the possibility of further monetary easing when he speaks later in the day. Carney appears at the House of Lords Economic Committee to discuss the economic consequences of the Brexit vote and he has the potential to […]
READ MORESterling rebounds
- Posted by Shyam Gokani in Uncategorised
- October 21, 2016
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Sterling edged down against the dollar on Friday, hurt by expectations that Britain’s economy is likely to suffer from a hard-line stance by the European Union in negotiations on the country’s exit from the bloc. British Prime Minister Theresa May, who is in Brussels to attend her first EU summit since Britain’s vote to leave […]
READ MORERetail Sales up in last quarter
- Posted by Shyam Gokani in Uncategorised
- October 20, 2016
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British retail sales recorded their strongest quarter of growth since late 2014 in the three months to September, but warm weather and higher prices dented demand for new clothing towards the end of the period. Britain’s statistics agency said consumer sentiment had remained firm since June’s vote to leave the European Union, and that the […]
READ MOREUK 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 […]
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