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Markets continue to be quiet until the end of the week

23rd June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – No data of note this week from the UK, with the main event being the Mansion House speeches in the City of London on Tuesday morning. Chancellor Phillip Hammond and BoE Governor Mark Carney were speaking, with Hammond continuing to be the voice of reason in the cabinet and reiterating his stance that the UK should stay a part of the single market. Carney, on the […]

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Policy dilemma within the Bank of England

22nd June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – We saw a significant dip in the pound earlier this week, both against the US dollar and the euro, following BoE Governor Mark Carney’s comments on not raising interest rates. Yesterday saw the pound pick up slightly, after an initial fall following the Queen’s speech which reassured the British public that easing the effects of Brexit would be at the forefront of parliament legislation for the […]

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Pound lowest since mid April

21st June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling lost ground across the board yesterday after Mark Carney’s speech, falling to the lowest level against the US Dollar since mid April and one week low against the euro. This came after his opinion that now is not the time to raise interest rates. This is a surprise after three members of the Bank of England Committee voted to raise interest rates last week. Today […]

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Sterling slips following Carney speech

20th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling trading within the ranges with no real movement after day one of Brexit negotiations. Bank of England committee member Forbes believes CPI will probably rise above the 3% level and expects wage growth should pick up through the year, however her dissent and comments do not carry as much weight, as she leaves at the end of the month. Professor Silvana Tenreyo has been appointed […]

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Brexit negotiations begin

19th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound started off last week very much on the back foot after the election resulted in a hung parliament. With little in the way of major data, Sterling remained muted until Super Thursday. Whilst nothing changed with interest rates on the day, the MPC returned only a 5-3 vote to keep rates on hold. With three committee members voting for an increase, investors took this […]

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Pound jumps following Bank of England MPC meeting

15th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Three Bank of England officials have called for UK interest rates to rise, in a surprise move that signals policymakers are becoming more concerned about higher inflation, even as the economy slows. Bank policymakers voted 5-3 on Thursday to keep interest rates on hold at a record low of 0.25pc. External members Ian McCafferty and Michael Saunders joined MIT professor Kristin Forbes in voting to raise […]

blackfriars bridge evening

Uncertain times for the pound

15th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound edged lower yesterday after a less than impressive set of unemployment figures gave the pound little reason to trade any higher against either of its major crosses. Average earnings fell in real terms by 0.6% in the three months to April, compared with the same period last year. Unemployment fell by 50,000 to 1.53 million in the three months to April according to Office […]

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Sterling rallies as CPI figure continues to rise

14th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Yesterday was a relatively good day for the pound and from the start of the UK trading session to the end we saw just over a 0.5% gain against both the euro and the dollar. The UK CPI figure came in higher than expected at 2.9% and could have potentially weakened the pound, as we moved even further away from the target figure of 2%. This […]

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Inflation forecast to remain at four year high

13th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling suffered across the board yesterday morning, as investors continue to digest Thursday’s election result, as well as mounting uncertainty heading Brexit negotiations. Inflation figures, due out this morning, are expected to stay at a four year high at 2.7%, meaning prices in shops are rising faster than wages. 🇪🇺 EUR – The euro remains strong against the pound, reaching a new 7 month high. Focus […]

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Pound falls following election

9th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – No real big movements during the day ahead of the result as traders and investors awaited the exit polls, which marked the start of the counting process. Due to the rules surrounding the election, no candidates were allowed to canvas or actively promote themselves and there was no data released, so a pretty lacklustre day for the pound. The Exit Polls last night showed a surprising […]

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Pound pushes higher ahead of vote volatility

8th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound was in consolation mode on Wednesday morning as it traded tightly against both the euro and US dollar. Throughout the afternoon, movements were choppy in nature but the overall effect was Sterling strength pushing to a 2 week high against the US dollar. It would appear that despite a narrowing of the polls in recent weeks, investors are increasingly confident of a Conservative victory. […]

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Sterling moves continue to be muted

7th June 2017 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – With no data to go on, Sterling hit a high against the dollar that it hasn’t seen for almost two weeks, before phasing back down slightly. Investors continue to push for a ruling Conservative party in Thursday’s election and were buoyed by the latest ICM poll which reflected an 11 point lead for the Conservatives. However, another poll from ITV put the Conservative lead over Labour […]