blackfriars bridge evening

Plan B Brexit goes to the Polls

29th January 2019 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 – Today is shaping up to be a very important day in the grand scheme of Brexit, as Parliament are set to vote on Theresa May’s Plan B, which as previously mentioned is very similar to Plan A but with a promise to renegotiate the Irish backstop with the EU. It is this deal that May will order her MPs to support, as she attempts to replace […]

Currencies consolidate ahead of busy week

28th January 2019 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 – GBP/USD rose more than 2.2 per cent to hit an eleven-week high last week, as it broke through the key $1.30 resistance level caused by a more optimistic tone around Brexit and Theresa May’s ‘Plan B’. To summarise some of the key reasons for the move up; firstly European Commissioner for Economic Affairs Pierre Mocovici said on Wednesday that the EU would support a second Brexit […]

bank of england

Sterling Finds Its Feet

25th January 2019 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 was the victim of some profit taking yesterday having surged to an 11 week high on Wednesday night as it drifted lower by 0.2 per cent, ahead of next week’s vote on Theresa May’s ‘Plan B’ Brexit deal. This is after the overall consensus within the market that the UK may yet be able to avoid a hard Brexit which in turn helped Sterling to […]

rates table

Brexit Optimism boosting the Pound

24th January 2019 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 – As markets continue to price in the decreasing odds of a hard Brexit, Sterling continues to strengthen, hitting a 10-week high yesterday against the Dollar. This move upwards comes as Labour Party politician, Yvette Cooper has proposed to extend Article 50 in the case of no agreement on the current deal; something that will likely cause Sterling to remain well supported as we move towards next […]

europe union building

Deal, Delay or No Deal

23rd January 2019 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 – Cable continues to trade towards the upper end of its range for the past two months following news that the Labour Party now seems to be formally backing a delay to the Article 50 process. In addition, yesterday the Pound gained 0.5 per cent against the Dollar following data indicating that the UK labour market remained strong despite the perceived economic slowdown as part of which, […]

gb and eu flags

Plan B Brexit?

22nd January 2019 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 – Whilst the market didn’t hold much hope for Plan B Brexit, what was presented to the Commons yesterday was, by and large, the same deal that was rejected by 230 votes last week. As a result, the odds of success for the ‘updated’ Plan A remain very low but despite this, Sterling has managed to hold onto its gains from last week. This is because, on […]

Plan B on Blue Monday

21st January 2019 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 – GBP/USD fell as much as 0.2 per cent overnight following reports that Theresa May was willing to give up on cross-party Brexit talks. This is following last week’s move up to $1.3001 on Thursday which was caused by investors taking comfort in the possibility for collaboration between the government and the opposition in Brexit negotiations. Unfortunately, with the UK government apparently very reluctant to water down […]

Second Chance to vote on Brexit?

18th January 2019 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 was on track for its longest run of weekly gains following news out yesterday that Jeremy Corbyn was open to the option of a second referendum on the UK’s exit from the EU. As part of this move higher, sterling has climbed versus all of its major peers this week, as talks have begun between the government and opposition parties as Theresa May attempts to […]

blackfriars bridge evening

Cross Party Consensus

17th January 2019 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 evening, Theresa May’s government narrowly survived a no confidence vote instigated by the Labour party by 325 votes to 306. While the result was fully expected, GBP/USD continues to move tentatively higher as a greater number of market-friendly outcomes are slowly being priced in. The first of these is the possibility for a cross-party deal which is currently being discussed in Parliament; whether this actually […]

houses of parliaments

Worst Defeat Ever

16th January 2019 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 Brexit deal agreed between the UK Government and the EU in November was defeated by 432 votes to 202, making it the worst defeat ever experienced by a modern UK government. As a result, Sterling moved higher late last night as the scale of the defeat increased the likelihood of a delay to the UK’s departure from the EU. As part of this, markets also […]

Judgement Day for May

15th January 2019 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 – Following a delay on December 11th, today will finally see MP’s vote on the Brexit deal agreed by Theresa May and the EU in November, for which expectations are that the government will be defeated. Whilst this has been largely priced in, the magnitude of the defeat will be the litmus test in terms of how likely May would be to get a revised deal through […]

europe union building

Brexit to be Blocked?

14th January 2019 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 – After a week in which we saw a change in rhetoric away from a Brexit Deal and towards a Brexit delay or No Brexit, GBP/USD hit its highest level since December 4th. As part of this, Sterling has been helped further by rumours that EC President Jean-Claude Juncker will send a letter confirming the temporary nature of the Irish backstop today in an attempt to help […]