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The Pound recovered some ground versus the majors on Monday following a spate of losses last week. There were no key data releases on the day. However, a couple of political developments caught the eye. Firstly, Scottish First Minister Nicola Sturgeon said she would be seeking the authority to trigger a second Scottish independence referendum. [...]

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Demand for Sterling remained soft on Friday as traders continued fretting over the potential consequences of Britain’s imminent exit from the European Union. The -15%-20% drop in the Pound since the referendum vote is starting to push up import costs, which is leading to price rises for consumers. Sadly, wage growth is not showing signs [...]

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A lack of notable data from the UK yesterday left the Pound on bearish form, with investors remaining focussed on Philip Hammond’s rather disappointing Spring Budget. The Chancellor may not have dwelt on the cost of Brexit, but markets certainly were. The issue of how much the UK will have to pay the EU once [...]

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The Pound found respite following Chancellor Philip Hammond’s Spring Budget yesterday, however, Sterling had already lost ground versus some of the majors ahead of the Budget statement. The main takeaways from Hammond’s announcement were that the Office for Budget Responsibility (OBR) had raised its 2017 GDP forecasts from 1.4% to 2.0% and that the government [...]

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Pound Hits 7-Week Lows

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Date: March 8th, 2017.

The Pound tumbled against most of the majors yesterday as new data added weight to the argument that rising inflation could detract from UK economic growth in 2017. The latest report from the British Retail Consortium (BRC) showed that retail sales declined -0.2% in the three months to February, with non-food sales sliding for the [...]

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Following last week’s disappointing performance the Pound continued to slide at the beginning of this week’s session. Worries over Britain’s ability to maintain the sanguine growth rates of last year, now that consumer prices are rising, weighed on demand for Sterling, while Brexit issues remain another key concern. Prime Minister Theresa May’s spokesperson said yesterday [...]

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The Pound suffered losses against some of the majors on Friday as traders reacted to an unexpected slowdown in UK services output. The highly influential service sector PMI report, which accounts for over 70% of British GDP, slid from 54.5 in January to 53.3 in February – its lowest level since September. Analysts had pencilled [...]

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GBP/EUR Snaps Four Days Of Losses

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Date: March 3rd, 2017.

British data yesterday showed that construction output accelerated slightly in February thanks to growth in civil engineering. The UK storms appeared to have little impact on the sector, however, housing projects and commercial building work did slow. The PMI inched higher from 52.2 to 52.5 but the Pound was little changed following the result as [...]

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The Pound suffered versus most of the majors yesterday following a softer-than-anticipated UK manufacturing PMI print. February’s factory output index came in at 54.6, down from 55.7 and lower than forecasts of 55.8. Domestic demand, which has been the primary driver of growth in the sector since the summer, slowed slightly as the Pound’s depreciation [...]

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Demand for the Pound remained constrained by Brexit tail risks yesterday as investors continued digesting rumours that Scotland would be pushing for a second independence referendum once British Prime Minister Theresa May triggers Article 50 to officially begin the UK’s two-year divorce with the EU. Incoming Bank of England Deputy Governor Charlotte Hogg, who will [...]

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