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Does Johnsons deal have enough legs to go through parliament?

18th October 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 deal is done, but does Johnson have enough friends to get the crucial votes he needs? The pound remains extremely volatile and hard to predict, in another whirlwind day in the market yesterday which saw swings of up to 2% against a basket of currencies. In his eyes, Johnson returns triumphant and ready to bring a new deal to vote in parliament tomorrow, which […]

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DUP Cannot Back Current Deal

17th October 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 –  UK and EU negotiators seem ever so closer to striking a deal ahead of a key EU summit over the next two days. Despite contradictory and conflicting comments made by various officials involved to muddy the waters, causing the pound to whipsaw, the overall view is that there is a serious attempt for all parties to strike a deal which eventually saw the pound to […]

Sterling soars as likelihood of deal increases

16th October 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 strengthened yesterday as it looks like for Boris Johnson to get a Brexit deal through parliament he just needs the support of the DUP now. Notable Eurosceptics such as the chair of the European Research Group, Steve Baker, have stated that a “tolerable deal” could be agreed on. Although a deal is now seen as “close”, the state of an agreement could change very […]

Insistence of a possible Brexit deal keeps Sterling high

15th October 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 experienced another volatile day as it initially lost more than 1% against the Euro and US Dollar before recovering, slipping again in the late afternoon and finally recovering once more to finish the day near the opening rate. Markets opened the week with a Brexit deal still on a knife edge and the Pound was punished when diplomats indicated that the EU required further […]

Johnson Set for Showdown Talks with Varadker

10th October 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 whipsawed in early trading yesterday following conflicting developments with Brexit negotiations. Sterling initially climbed after the Times reported that the EU was ready to offer the UK a significant concession for deal by providing a mechanism for the Northern Irish assembly to leave a new Irish backstop after a set number of years. However, market optimism soon dried up after the DUP and senior […]

Sterling drops as deal “essentially impossible”

9th October 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 morning, a source in Downing Street released a summary of phone call between Merkel and Johnson. In the transcript, Merkel had stated that a deal based on the UK’s proposals was “overwhelmingly unlikely” to succeed. Politicians on both sides of the debate appear frustrated, with Donald Tusk tweeting “what’s at stake is not winning some stupid blame game”. The most likely outcome now appears […]

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EU rejection leak hurts the Pound

8th October 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 had a tough start to the week as it fell throughout Monday’s morning session against the Euro and US Dollar. This was attributed to markets growing concern that a deal remains a long way off in negotiations between the UK and the EU. Markets had largely priced in an extension or a deal being agreed but are beginning to adjust according to the increasing […]

Pound sensitive to Brexit developments

7th October 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 marginally achieved its first weekly rise last week after 3 weeks of downward trend. However, the Pound finished in the lower ranges having been much higher in the lead up to the publishing of the Government’s Brexit plans and following suggestions that the EU would not require a letter requesting an extension to push the cliff edge date into next year. Sterling stayed resilient […]

Service sector feels the strain

4th October 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 –  Another mixed day for the pound which continues to be tough to try to predict. A strong start to the trading day saw sterling hit week highs against the Euro and a 9 day high versus the dollar. The morning push was likely down to efforts from Boris Johnson to put together a final Brexit offer with new backing from several high profile Brexiteers. The […]

Tight ranges for Sterling following Boris speech

3rd October 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 had a directionless day yesterday as traders digested Johnson’s speech at the Conservative Party Conference. The Pound fell by as much as 0.5% against the US Dollar early on Wednesday morning following poor Construction sector results and in anticipation of the speech but despite Boris offering no new information, Sterling managed to move away from the lows. It didn’t, however, regain all the losses […]

Johnson to make ‘final offer’ to end Brexit deadlock

2nd October 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 contraction in manufacturing PMI was not as bad as the market had forecast yesterday, with the reading of 48.3 being released. Factories appear to be stockpiling to protect themselves against no-deal Brexit, as that could lead to a sharp disruption in their supply chains. This was the reason for the higher reading. Despite this, anything below 50 is a contraction. Sterling was relatively volatile […]

Brexit Draft Ready for EU

1st October 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 moves were mixed yesterday after growth figures for the second quarter showed a contraction of 0.2%, raising fears that should we see another contraction in the months from July to September, then the UK could well be in a technical recession. In a crucial move last night, Boris Johnsons officials finished working on a draft on the legal text of a Brexit deal due […]