GBPThe Pound suffered from further domestic political uncertainty yesterday and failed to muster support from global market trends. There were no clear signs of increased Withdrawal Act support for the next vote in June. The 1922 committee executive meeting with the Prime Minister was followed by the announcement that the...

GBPWith no tier one data releases from the UK yesterday the markets focused domestic politics and trading patterns elsewhere. An overwhelming lack of confidence Theresa May’s ability to push the Brexit Withdrawal Bill through in early June and the subsequent drop in confidence in her leadership increased pressure for a...

GBPUK unemployment dropped to 3.8% from 3.9%, a  forty-five year low, although the underlying employment increase fell below consensus forecasts at 99,000. Average earnings growth slowed to 3.2% from 3.5% in March while average earnings including bonus slowed to 3.3% from 3.4%.

GBPThe Bank of England’s (BoE) Deputy Governor Ben Broadbent maintained the party line when stating interest rate increases will be gradual. On the political front, there were no substantial developments but pressure remains for Brexit talks between the government and the Labour Party to be curtailed.

GBPThe UK's Q1 GDP growth printed inline with forecasts at 0.5% as inventory building continued to provide strong support. Industrial and manufacturing production data beat forecasts with annual increases 1.3% and 2.6% respectively and total business investment posted a 0.5% increase for the quarter.

GBPBank of England (BoE) member Saunders stated that interest rate increases would not be far or fast and that the neutral interest rate would be around 2.0%. This was in line with what the Monetary Policy Committee stated but only had a slight effect on the market.

GBPThe Pound had another difficult mornings trading, ceding ground on reports that Brexit talks between the government and the Labour Party were close to collapse. Fragile global risk conditions and concerns over the international growth environment also contributed to negative Sterling sentiment.

GBPThe Pound drifted back down to pre-Bank holiday levels during Tuesday morning, failing to gain support from the markets re-opening. Weaker oil prices and weaker risk appetite globally contributed to the malaise. Brexit talks between the government and the Labour Party resumed and the Prime Minister met with the Chair...

GBPLast Friday saw UK services PMI move back up into expansionary territory with 50.4 in April, as forecasted. New business had dipped but stronger upward pressure on prices should put it back on track and business sentiment hit a twelve-month high.

GBPUK PMI construction data edged up to 50.5 in April; just into expansionary territory with the residential sector improving most but overall business confidence remains fragile. As expected the Bank of England (BoE) unanimously voted to hold interest rates at 0.75% and the accompanying statement concluded that domestic demand will...