Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
GBPSterling spiked yesterday morning after rumours that the German government would propose a five-year time limit on the Northern Ireland backstop but Sterling surrender all gains as the rumours were swiftly denied. A lack of EU opposition to a Brexit extension did protect the Pound from a sustained sell-off, as...
VIEW FULL ARTICLEGBPThe Pound had another day of political tension with reports emerging that Conservative Party MPs were discussing an indicative vote of no confidence in Theresa May’s leadership. Sterling did get a boost from further gains in oil prices and a firm tone in commodities, partly offsetting the Brexit woes.
VIEW FULL ARTICLEGBPFriday saw Sterling fall to a three-day low as the market dissented to another Brexit extension after Theresa May wrote to the EU President requesting an exit date at the end of June. The PM believes that she can gather cross-party support around the “framework for a future relationship”.
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VIEW FULL ARTICLEGBPA lack of progress in solving the Brexit impasse ahead of the emergency EU Summit meeting next week left the markets uneasy, despite Wednesday’s vote reducing the perceived chances of a “no-deal”. The government continued discussions with the Labour Party and no breakthrough appeared it was also reported that a...
VIEW FULL ARTICLEGBPUK PMI services-sector index failed to meet forecasts and printed the first contraction since July 2016 at 48.9. New orders declined for the third month on the bounce with political uncertainty shouldering the blame. Sterling lost some ground after the data but Brexit developments took precedence, limiting the impact.
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VIEW FULL ARTICLEGBPUK construction PMI bounced back from 39.5 to 49.7 in March but ultimately marks a second successive month in contraction. Commercial activity was undermined by Brexit, although business optimism rose modestly. The Pound dipped to near 1.3000 amid on-going fears over political deadlock but reports that Oliver Letwin and Yvette...
VIEW FULL ARTICLEGBPUK manufacturing PMI comfortably beat forecasts with a sharp rise to 55.1 in March, up from February’s 52.1 and the strongest reading since December 2017. Business confidence rose but Brexit uncertainty overshadowed gains in output and orders and inventories of raw materials and finished goods increased at a record pace.
VIEW FULL ARTICLEGBPUK GDP growth for Quarter 4 2018 printed at 0.2% for its final reading and year-on-year GDP growth edged up 0.1% to 1.4% and business investment fell slightly less than expected. The Pound spiked higher early on reports that key Conservative MPs would back the deal and consequently the Withdrawal...
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