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Pound Sentiment Improves as Barclays Chief Remains Committed to London

Sterling

The Pound (GBP) put in a strong performance against its peers yesterday as the chief of a leading London bank said that he was confident that his bank could continue operating from the UK after ‘Brexit’. Barclays chief executive Jes Staley said that he believed that London would remain the ‘financial lungs of Europe’ even after the UK leaves the EU, helping to dispel some fears that the City was likely to lose its passporting rights, forcing banks to move to the continent. View article >

What Impact will the ECB Meeting have on the Euro Today?

Sterling

The Pound (GBP) is trading relatively flatly against many of its peers this morning as Sterling managed to find its footing after slumping for much of Wednesday. The dip in GBP followed a spike earlier in the week after Prime Minister Theresa May finally outlined her plans for leaving the EU. The decline was driven by a warning from Scottish First Minister Nicola Sturgeon about the possibly of a second Scottish referendum and criticism that many of the points laid out by the PM may be unachievable. View article >

GBP Rallies Vs EUR, USD as PM Outlines ‘Brexit’ Plans

Sterling

The Pound (GBP) rallied to its best levels since the start of last week against most of the majors yesterday as markets reacted positively to Prime Minister Theresa May’s ‘Brexit’ speech. While Investors were dismayed about May’s commitment to a ‘hard Brexit’, the PM’s promise that MPs would be given a vote on the final terms of ‘Brexit’ lead to a uptick in Sterling sentiment as traders believe opposition MPs may seek to alter the government’s plans to a softer ‘Brexit’. View article >

PM Speech Forecast to Impact Currency Movement

Sterling

The Pound (GBP) plummeted against its peers at the beginning of trading yesterday, but started to make a small recovery later in the day as traders hoped that Theresa May’s speech would provide some clarity on the ‘Brexit’ process. One of the key reasons that investors are currently dovish towards Sterling is that there is still a great deal of uncertainty over how ‘Brexit’ will work. View article >

Pound Plummets as Theresa May Prepares to Outline ‘Brexit’ Plans

Sterling

The Pound (GBP) tumbled below US$1.20 and also against the rest of the majors this morning as investors remained cautious ahead of Prime Minister Theresa May’s speech on Tuesday. Analysts expect May’s speech to indicate that the UK government will seek a ‘hard Brexit’, eschewing access to the single market in order to gain greater controls over EU immigration, a decision that traders believe will have a negative impact on the British economy. View article >

Theresa May Speech Set to Trigger Currency Volatility

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) plummeted against its peers yesterday afternoon, as it was announced that Prime Minister Theresa May would be giving a speech on her approach to ‘Brexit’ next week. Markets reacted poorly to the news as they expect her comments to focus more on her plans to control immigration, while staying intentionally vague on her plans for the single market. View article >

Pound’s Fortunes Mixed as ‘Brexit’ Uncertainty Persists

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) had a mixed day on Wednesday as persistent ‘Brexit’ concerns continued to drag on Sterling as the UK government allowed uncertainty to continue to fester due to its reluctance to publish its plans for leaving the EU. UK data releases were also a mixed bag as despite production significantly rising in the Manufacturing, Construction and Industrial sectors, a notable rise in Britain’s trade deficit from £1.55bn to £4.17bn prevented GBP from rallying. View article >

‘Brexit’ Uncertainty Continues to Hamper Pound

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) continued struggling against it peers yesterday as Prime Minister Theresa May’s comments over the weekend and subsequent statement of ‘getting the best deal for the UK’ have done little to help clear up the government’s position on ‘Brexit’. Sterling did managed to recover against some of the majors yesterday afternoon however as Labour Leader Jeremy Corbyn outlined his party’s desires for ‘Brexit’, which included staying in the single market and accepting some freedom of movement. View article >

Theresa May Comments Continue Driving Currency Market Movement

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) continued reeling from Theresa May’s comments over the weekend as they appeared to signal that Britain will be headed for a ‘hard Brexit’. The Prime Minister said she was not interested in keeping ‘bits of the European Union’, which traders interpreted as an intention to leave the single market. This led many investors to flee Sterling as they fear the impact that ‘Brexit’ will have on the UK economy. View article >

Pound Plummets After May’s EU Comments

Sterling

GBP/USD 1 Week Chart
The Pound (GBP) tumbled this morning following comments from Prime Minister Theresa May over the weekend. May said on Sunday that she wasn’t interested in keeping ‘bits of membership of the EU’ as she doubled down on her commitment to control immigration from Europe. Investors have taken this as a sign that the UK government will not attempt to retain access to the single market after ‘Brexit’. View article >
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