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An unexpected downgrade to first quarter growth weighed on Sterling yesterday, prompting mild losses against most of the majors. The Office for National Statistics’ (ONS) latest report saw quarterly growth revised down from 0.3% to 0.2%. When looked at in closer detail the economy only eked out an expansion of 0.18%, which is the weakest [...]

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With no significant new domestic data releases to contend with, Sterling traders mulled over news that Britons’ expectations for inflation ticked higher this month. The latest YouGov poll showed that the public expects consumer prices to increase by 2.6% over the next 12 months, up from 2.5% previously. However, the figure is actually lower than [...]

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GBP Fluctuates As Deficit Widens

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Date: May 24th, 2017.

Sterling stuttered yesterday morning as the UK budget deficit for April came in wider-than-expected. The Office for National Statistics (ONS) reported that the government borrowed £10.4 billion last month to balance the books. A deceleration in tax intake helped push the figure considerably higher than the market consensus of £8.9 billion, and leaves Britain’s national [...]

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The Pound got off to a rocky start this week as traders sold out of Sterling on fears that a closer-than-anticipated election could impact Britain’s ability to pursue a smooth Brexit transition. Theresa May saw her lead over Jeremy Corbyn halve to around 9-points over the weekend following a backlash over proposals to reduce state [...]

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The Pound was treated to more positive data on Friday with UK factory orders printing at the highest level for over two years. The manufacturing index rose from +4 to +9 in May, indicating that new orders are continuing to surge despite Brexit uncertainties. Analysts suggested that the Pound’s post-referendum fall was helping make British [...]

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Sterling enjoyed a day of gains across the board yesterday as markets reacted positively to a sanguine UK retail sales report. With British wage growth lagging inflation, not many analysts were surprised when March’s retail sales index printed negatively at -1.2%. Due to the warm weather and the Easter Holiday, expectations for April were a [...]

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The Pound registered mild gains versus the majors yesterday in reaction to a surprise dip in the British jobless rate. UK unemployment fell to a 42-year low of 4.6% in March thanks to an ‘astonishing’ 122,000 surge in job creation, which took the employment rate to an all-time high of 74.8%. The headline figures gave [...]

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Sterling lost out against the majors yesterday, even though UK inflation printed higher-than-anticipated. Data showed that CPI rose from 2.3% to a fresh three-and-a-half-year high of 2.7% in April. Sterling’s post-Brexit depreciation, which ramped up import costs for producers, was the main driver behind the rise in price pressures. Surging energy costs due to the [...]

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The Pound could rise this morning if the latest UK consumer price index climbs from 2.3% to 2.6% as expected. This would represent a fresh three-and-a-half-year high and anything above consensus could stoke Bank of England rate hike bets. Last week the UK central bank predicted that inflation would top out at 2.8% later on [...]

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Demand for the Pound remained soft on Friday as traders continued to mull over the Bank of England’s latest policy statement. With no policymakers opting to join Kristin Forbes in voting for tighter policy in May, analysts now believe that British interest rates will remain at rock-bottom levels until 2019. There had been talk prior [...]

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