After opening the session in negative territory, GBPUSD performed a quick U-turn after UK manufacturing, industrial production and monthly GDP data all beat expectations. And over in Ireland, UK PM Boris Johnson was in a more conciliatory mood.
UK asset markets are in a limbo this week with little hard UK data to look forward to. Later in the week, the FOMC minutes and on Friday, FOMC chair Jerome Powell speaks at the Jackson Hole Symposium.
Sterling (GBP) is little changed after slightly better-than-expected UK wages and Labour data as Brexit remains the driver of the British Pound.
Sterling (GBP) attempts to push higher Monday but the market is overshadowed by a growing political crisis in Hong Kong, taking risk off the table.
There is growing noise and tweet activity suggesting that UK PM Theresa May could well be out of a job very shortly after her disastrous ‘new deal’ Brexit presentation Tuesday.
Sterling jumped sharply mid-morning as rumours swirled that PM Mays latest attempt at getting her bill through Parliament was gaining traction. Sterling jumped but price action is volatile.
UK PM Theresa May lost control of the Brexit process last night as MPs voted to put forward indicative votes to Parliament on Wednesday.
UK PM Theresa May is coming under increased pressure to step down as leader of the Conservative Party as Parliament looks at other Brexit options to try and break the current stalemate.
Risk appetite has been a primary feature of the markets landscape throughout 2019 thus far. However, this speculative charge seemed to find its traction in hope – hope that trade wars were easing, central banks would raise support and growth would level out. Those hopes are wavering and so too
Sterling opens the week with a small boost on news that this weeks vote has been delayed and talk that Brexit may delayed for another
The Brexit timetable was left unchanged after yesterdays votes in the House of Commons and PM May now has until February 27 to get a
Sterling continues to step higher and broke back above GBPUSD1.3200 recently. However, a recent pullback has highlighted resistance at an important technical level.
EURGBP is currently bouncing off a 20-month low but the relief rally may be short-lived as contrasting forces combine to push the pair even lower.
The British Pound may celebrate the defeat of a Brexit deal championed by Prime Minister Theresa May. The US Dollar may rise as wholesale inflation