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Pound holds gains

21 February, 2019

Nakhil Mahra

Yesterday was a fairly quiet day in the currency markets. With no real data out, most of the trading was sentiment based, which saw Sterling hold its gains from Tuesday. Trading just under the highs of January and up 2 cents compared to close of business Friday. These gains will be a welcome sight for […]

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Yesterday the pound spiked against EUR and USD

20 February, 2019

Joe Goodwin

GBP Yesterday the pound spiked against EUR and USD on reports that the PM may be reconsidering her position on the Backstop. The news hints that a new Backstop deal may be imminent with the EU, as a new proposal has the potential to unite both Brexiteers and Remainers. The pound gained around 1 cent […]

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Labour Party takes a hit as MPs resign | Pound remains stable

19 February, 2019

Grace Rae

Markets opened yesterday in a relatively good position, and with the US closed for bank holiday and little data out for the Eurozone and the UK, markets traded fairly flat throughout the day, providing no surprises, maintaining a stable market. Yesterday’s main news focused on the decision made by a group of seven Labour MP’s […]

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Currency Markets are Loathed to Strike Out in any Direction

18 February, 2019

Tom Arnold

The last week on the markets was fairly uneventful from a currency perspective with relatively little movement of note for GBP related currency pairings. This is mainly due to the ongoing stasis with regard to Brexit. With the government in “kicking the can down the road” mindset, the currency markets are loathed to strike out […]

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PM Mays defeat sees No-Deal still on the table, Pound stutters

15 February, 2019

Matthew Boyle

It has been a busy and mixed week for the Pound for Ecostats, seeing a solid GDP reading on Monday, whilst posting poorer than expected manufacturing and Industrial data, but with inflation dropping to a two-year low. However, and has been the case for some time now, Brexit does remain at the forefront of people’s […]

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Inflation Rules The Day

14 February, 2019

Simon Eastman

We hit mid-week yesterday and the pound was still floundering, moving up and down in a half-cent range against the euro and 1 cent range against the stronger US dollar. The UK eco stats were led by the key consumer price index released at 9.30am. We were expecting a drop in the cost of living […]

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BoE warns against ‘No Deal’

13 February, 2019

Rob Bastin

With an absence of key data yesterday, the markets were relatively muted trading within a 0.5% range across the board. Sterling markets have largely flattened out in the last week as we await the next round of Brexit updates and potential further amendments to be voted in parliament on Thursday. A second meaningful vote is […]

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Key week for Brexit talks

11 February, 2019

Nakhil Mahra

Last week Theresa May has done the rounds as she has been frequently, visiting both her counterparts in the EU trying to find a solution to the ongoing Backstop issue. Needing to provide an update to parliament this week, her job was made harder with comments made by Tusk saying, “there is a special place […]

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2019 looks set to be the worst year for UK since the recession of 2009

8 February, 2019

Annabel Gorrie

Yesterday the Bank of England forecast growth this year to be the slowest since the UK economy was in a recession back in 2009. So, for the first time in 10 years we see the UK going “backwards”. No doubt in anyone’s mind that this is due to Brexit. It forecast growth of 1.7% in […]

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Rates hold whilst PM seeks new amendments

7 February, 2019

Grace Rae

Brexit talk European Council President, Donald Tusk, spoke yesterday morning with a statement stressing again that the EU’s position is clear and will not be making any new offer on the withdrawal agreement.  Continuing to make quite the comment saying, “I have been wondering what a special place in hell looks like for people who […]

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