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GBPThe Pound dipped lower yesterday morning following comments from a government spokesman that Brexit talks with the Labour Party had yet to yield a breakthrough. Sterling dropped to near 1.2900 on the Dollar before edging back up and the Euro strengthened slightly to just below 1.1560.
VIEW FULL ARTICLEGBPThe UK CBI industrial orders index declined to a six-month low of -5 for April from 1 previously and below consensus forecasts with companies expecting little change in output over the next few months. There was a recovery in mortgage lending which suggested resilience in the housing sector and the...
VIEW FULL ARTICLEGBPHeadline UK consumer inflation remained at 1.9% for March, missing forecasts of a slight increase to 2.0% and the core rate also remained unchanged at 1.8%. Expectations of a Bank of England (BoE) interest rate hike this year dipped.
VIEW FULL ARTICLEGBPUK employment data largely met forecasts; unemployment remained at 3.9%, it's lowest level since 1975 and average weekly earnings, after adjusting for inflation, rose 1.6% compared to last year. Sterling was range-bound between 1.3000 and 1.3100.
VIEW FULL ARTICLEGBPDespite benign risk conditions, a retreat in oil prices limited potential Sterling support. Foreign Secretary Jeremy Hunt commented that talks between the government and the Labour Party were more constructive than people think, allowing the Pound to make modest headway, although ranges were narrow as short term volatility continued to...
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