Yearly Archives: 2019

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Brexit deadline dates looks to be less and less realistic

15 March, 2019

Grace Rae

This week has been a great example of how Brexit sentiment can control the currency markets. On Tuesday, the Pound rallied following news that new assurances on the backstop had been made, which provided great exchange rates for those with Sterling in hand, although this was short lived as hours later the Attorney General confirmed […]

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UK avoids epic banana skin

14 March, 2019

Joe Goodwin

Yesterday evening parliament voted to take “No Deal” off the table entirely. The motion to reject a no-deal Brexit under any circumstances was passed by a majority of 43: 321 to 278. As a consequence, the pound made further gains against the euro and US$. 12 MP’s including cabinet ministers defied the three-line whip and […]

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Rollercoaster crash for May’s deal

13 March, 2019

Tom Arnold

Yesterday was a critical day in the unfolding Brexit story, and as a result, we had a rollercoaster of a day on the currency markets. It started with news overnight that Theresa May and Jean Claude Juncker had agreed legally binding assertions in the form of a new “joint instrument”, designed to help limit the […]

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From Strasbourg With Love

12 March, 2019

Samuel Roberts

Yesterday evening, Theresa May made a last-ditch visit to Strasbourg. After a hurried meeting with Jean Claude Juncker, Theresa May announced that she now has legally binding amendments to the Northern Ireland ‘Back-Stop’. Today the ERG (European Research Group) are looking through these new additions with their lawyers, to see if there is any room […]

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Crunch Time For Brexit

11 March, 2019

Simon Eastman

Last week was a fairly stable one regarding sterling exchange rates as markets awaiting the string of potential votes surrounding Brexit, set to be staged this week. The pound was doing well against the euro, holding near two-year highs for the majority of the week up until Friday, where we saw sterling slide by over […]

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ECB meeting puts pressure on Euro

8 March, 2019

Rob Bastin

ECB Meeting Yesterday’s currency market headlines were dominated by the European Central Bank as Mario Draghi gave a speech following the latest interest decision announcement. There were 4 key points to take from this speech: Rates are to be kept unchanged at record low levels until the end of 2019 at very least and will […]

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Focus remains on Brexit amidst little data- Can you afford the gamble?

7 March, 2019

Matthew Boyle

There is little data from the UK for the remainder of this week, with an interest rate decision from the ECB later today (where no change is expected) and a focus on US data tomorrow with the non-farm payroll release. As such focus remains strongly on Brexit, as we edge closer to the next UK […]

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Up and down day for Sterling

6 March, 2019

Nakhil Mahra

Yesterday was a topsy turvy day for GBP seeing it drop half-cent initially before recovering late in the day. After last week’s gains, the general feeling amongst analysts is that an extension is now largely priced in and any further gains will be limited. With eyes now on next week’s votes, where we could see […]

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Pound in a strong start to the week

5 March, 2019

Annabel Gorrie

Last week we saw the GBPEUR exchange rate soar to a 21-month high as Theresa May emphasised her confidence that a no-deal Brexit can be avoided, promising MP’s a vote on delaying Brexit if her deal is rejected. This rising optimism and expectation that Brexit will be delayed boosted GBP across the board, leading to […]

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Lots of new month data to keep note of

4 March, 2019

Grace Rae

Markets remained stable on Friday as they continued to provide some of the best exchange rates for those with sterling in hand. Investors seem to have reacted positively to the prospect of a no deal Brexit coming off the table and this week could be more of the same as markets await further votes potentially […]

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