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The Pound was on sluggish form yesterday as the Parliamentary debate over the government’s EU withdrawal bill continued. Although the disagreement between lawmakers is unsettling for markets, without anything concrete to go on there was little reason to change the outlook for GBP at this juncture. This afternoon’s NIESR gross domestic product estimate will give [...]

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A lack of UK news left the Pound trading fairly limply on Wednesday, with the main movements in GBP exchange rates being triggered by external developments. While Sterling has already recorded modest gains against AUD and NZD this morning, GBP/EUR is holding at opening levels. If today’s ECB interest rate decision disappoints, the Pound could [...]

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Pound Creeps Higher Despite Poor UK Data

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Date: September 6th, 2017.

Yesterday’s UK services PMI failed to impress, but that didn’t stop the Pound registering gains against several of the majors. GBP/EUR and GBP/USD both ended the day in a stronger position despite the services measure tumbling from 53.8 to 53.2 – the worst result for 11 months. The Pound largely held gains despite the release [...]

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The Pound tumbled across the board yesterday as investors sold Sterling ahead of this morning’s dominant UK service sector PMI report. Construction data showed that building activity decreased to a one-year low of 51.1 in August due to a slump in commercial investment. The survey signalled that firms were holding back and in some cases [...]

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The Pound registered gains versus some of its most-traded currency peers on Friday following some better-than-anticipated UK manufacturing data. The latest Markit PMI signalled that factory output expanded at its fastest rate for four months in August, printing at 56.9 and exceeding expectations of 55.0. The report detailed sturdy expansions in sub-sectors such as output, [...]

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Sterling tumbled versus some of the majors yesterday as Brexit uncertainty gripped markets. Traders were concerned that a lack of progress in Brexit talks could lead to a cliff-edge scenario whereby Britain exits the European Union in March 2019 with no transitionary deal and no new trading arrangement with its largest trade partner. These anxieties [...]

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After a run of losses versus the Euro and some of the other majors, Sterling managed to post a modest set of daily gains yesterday. British data showed that mortgage approvals rose unexpectedly from 65,318 in June to 68,689 in July. The figure surprised traders, as house buying traditionally slows during the summer. A separate [...]

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Demand for Sterling remained soft yesterday as Brexit anxieties were piqued by comments from European Commission President Jean Claude Juncker. Following on from EU chief negotiator Michel Barnier’s demand for Britain to ‘start negotiating seriously’, Juncker blasted Britain for leaving ‘huge numbers of questions’ unanswered in its latest government Brexit papers. Over the weekend the [...]

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Pound Rebounds 130 Pips Vs. US Dollar

Posted by:
Date: August 29th, 2017.

Brexit noise impacted demand for Sterling over the Bank Holiday weekend. Markets were cheered by foreign secretary Boris Johnson’s concession on Friday that the UK would meet its legal obligations to pay a divorce bill to the EU. Boris had previously told the EU to ‘go whistle’ over the bill, but by admitting that a [...]

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The Pound rallied initially yesterday morning when data showed that British growth inched up from 0.2% to 0.3% in the second quarter of the year. However, Sterling struggled to hold onto its gains through the session as traders delved into the data and took a negative outlook. Investors were concerned by a deceleration in business [...]

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