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Pound Remains at Multi-month Lows

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Date: July 24th, 2017.

Demand for the Pound remained weak on Friday as rising budget deficit data added to Brexit anxieties. Sterling sustained steep losses on Thursday when UK trade minister Liam Fox suggested that Britain could get by without a Brexit trade deal. However, economists believe that the British economy would weaken substantially if the UK does not [...]

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Sterling was hammered across the board yesterday as fresh Brexit anxieties outweighed an upbeat UK retail sales report. Demand for the Pound was significantly hurt by comments from British trade minister Liam Fox suggesting that the country could get by without a post-Brexit EU trade deal. Economists believe that such a scenario would have a [...]

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The Pound recovered some of its recent losses yesterday as investors locked in profit following Tuesday’s surprising dip in UK inflation. Sterling suffered following the 2.6% June CPI print, which underwhelmed expectations of inflation remaining at a four-year high of 2.9%. However, there was little fresh stimulus for Sterling traders yesterday and this allowed the [...]

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Sterling suffered steep losses versus the majors yesterday as UK inflation came in significantly lower than traders had anticipated. The consumer price index slowed in June for the first time since last October, dropping from 2.9% to 2.6%. Cooling recreational goods prices and sliding transport costs drove the headline inflation rate lower at a time [...]

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Sterling started this week’s session by giving back some of its recent gains versus the majors. Demand for the Pound was curtailed by fears that discord within the Tory party could derail the Brexit process. Chancellor Philip Hammond, a proponent of a ‘softer Brexit’, claimed that cabinet members were leaking stories to the press in [...]

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Constructive Brexit Talks Boost Pound

Posted by:
Date: July 17th, 2017.

Sterling roared to a robust set of gains against its most-traded currency peers on Friday as markets cheered the British government’s new conciliatory tone over Brexit. Having previously struck a hardline with European negotiators, raising the possibility of Britain leaving the bloc with no new trade deal, the government has recently sounded much more constructive. [...]

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Hawkish BoE Official Boosts Pound

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Date: July 14th, 2017.

The Pound began yesterday’s trading session on the front foot following hawkish comments from Bank of England policymaker Ian McCafferty. The BoE official said that he has not changed his position on interest rates since the last meeting in June, when he voted for a 25 basis point rise. McCafferty added that the central bank [...]

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GBP/EUR Rebounds From 8-Month Low

Posted by:
Date: July 13th, 2017.

A mixed bag of UK labour market data led to mixed results for Sterling exchange rates yesterday. The headline unemployment rate surprised markets, sliding from 4.6% to a new 42-year low of 4.5% in the three months to May. This was thanks to a better-than-anticipated 175,000 rise in employment, which took total employment to an [...]

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The Pound sustained losses versus most of the majors yesterday following a speech from Bank of England deputy governor Ben Broadbent. It wasn’t that Broadbent said anything particularly dovish; the Pound tumbled because the deputy governor opted against speaking about monetary policy, which was seen as a sign that he is not likely to vote [...]

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Sluggish Day for Data Keeps GBP Muted

Posted by:
Date: July 11th, 2017.

There was little in the way of fresh developments yesterday to move Sterling. The Pound was left on mixed form, reacting to strength or weakness is other major currencies, thanks to a lack of domestic data. Traders were still focused on last week’s ecostats, as their disappointing results have lowered the odds of the Bank [...]

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