News and Analysis

Market News and Analysis

23/10/2020

Brexit talks set to resume

GBP Over the course of the week sterling saw major gains across the board as an agreement to intensify Brexit trade talks was announced on Wednesday. However, GBP/EUR revered some of these gains heading into the weekend as markets still remain wary. Michel Barnier arrived in London yesterday as discussions were set to resume. During […]

22/10/2020

Sterling rallies to six week highs

GBP Sterling rallied to a six week highs against the US Dollar on Wednesday as Brexit talks are set to resume this week. EU Chief Negotiator Michel Barnier stated that both sides must be willing to compromise and that a deal was within reach. He went onto say “we will seek the necessary compromises on […]

21/10/2020

Brexit talks hang in the balance

GBP Talks between Britain and the European Union over a post-Brexit trade deal are mired in a stalemate after a call between the two sides’ chief negotiators concluded without a breakthrough. David Frost and Michel Barnier held discussions for the second day running on Tuesday as they tried to restart talks that were suspended by […]

20/10/2020

Lack of clarity over Brexit hurts sterling

GBP Sterling began the week on a strong footing as the pound shrugged off Boris Johnson’s threat of an Australia trade deal and focused on the path laid out by EU and UK negotiators to ensure further talks and an eventual deal. However, as the day progressed, this strong start faded as UK Chief Negotiator […]

19/10/2020

Sterling unfazed by no deal scare

GBP Sterling was unfazed by Boris Johnson’s announcement that the UK should prepare for a no trade deal on Friday. Optimism is building among investors that a trade deal will be reached and Johnson’s latest announcement could be a ploy in order for the EU to give into the demands of the UK according to […]

16/10/2020

Sterling falls due to concerns over a timely trade deal

GBP Sterling fell yesterday after concerns mounted about the obstacles that are keeping the European Union and Britain from reaching a timely trade deal. Boris Johnson had previously proposed that the October 15th deadline be the conclusion for talks and we await for a confirmation on the scope of a new extension. Fisheries, competition and […]

15/10/2020

UK softens stance on Brexit talks

GBP Sterling rebounded close to 1% from one week lows on Wednesday following reports the UK government would soften its stance and continue Brexit trade talks beyond Prime Minister Boris Johnson’s 15th October deadline. The reported softer stance has increased investor expectation that a trade deal can be agreed this year and resulted in sterling […]

14/10/2020

Sterling lower as Brexit anxiety weighs

GBP Sterling took a step back on Tuesday, dipping against a broadly stronger dollar and also falling back against the Euro as currency markets kept an eye on ongoing Brexit negotiations for fresh drivers over the next few weeks. Recent reports have claimed that the European Union want further concessions from Britain before entering the […]

13/10/2020

UK response to rising Covid-19 cases

GBP Sterling edged higher yesterday as Boris Johnson announced a highly anticipated three tier alert system across the UK. In doing so, he also rejected a second national lockdown saying ‘it would not be the correct course of action’. The new system would see country divided by tiers, and those with the highest infection rates, […]

12/10/2020

Market sentiment shifts

GBP Sterling traded close to month highs against both the euro and dollar on Friday. Market sentiment shifted to risk on due to rising hopes that a Brexit trade deal and US stimulus package can be agreed. Despite the move higher, sterling has found difficulty in breaking through its current trading range and the headline […]

09/10/2020

Sterling higher on renewed Brexit optimism

GBP Sterling stabilised yesterday after the market mood around Brexit improved, especially after Britain said there is 66% chance that both sides will be successful in reaching a deal. Rumours also circulated that officials may actually be more positive towards a deal than they have publicly stated. This optimism followed Boris Johnson and European Council […]

07/10/2020

Sterling experiences mixed day on Tuesday

GBP Sterling experienced a mixed day on Tuesday as the pound edged higher during early trading hours as optimism was building around progress in talks between the UK and EU. The pound was also helped by expectations that an interest rate cut will be pushed back by the Bank of England. Money markets pushed back […]

06/10/2020

Sterling rebounds due to Brexit optimism

GBP Sterling retracted slightly against the euro yesterday, although losses were limited and Sterling made small gains against the US Dollar as most of the currency market now have a level of expectation that Britain and the European Union will soon conclude a Brexit deal. British Prime Minister Boris Johnson and President of the EU […]

05/10/2020

Sterling higher on Brexit deal hopes

GBP Sterling opened higher on Friday buoyed by investor optimism that the U.K. and EU will solve their differences to achieve a Brexit trade deal before the end of the year. Comments from German Chancellor Angela Merkel reflected the optimism in the market on Friday. Whilst admitting that a breakthrough hasn’t been reached, Merkel admitted […]

02/10/2020

Sterling falls as Brexit talks stall

GBP Sterling fell against both US Dollar and Euro on Thursday as Brexit talks stall between the U.K. and the EU. Both parties are far apart on the key issue of state aid and the U.K. was dealt with another blow as the EU launch a legal case against the U.K. The EU gave the […]

01/10/2020

Sterling rallied as traders adjusted end of quarter positions

GBP Sterling had a late rally yesterday but this was not due to any macro events or pandemic related announcements. It came after traders adjusted their positions on the last day of the month and the quarter. Despite what had been a fairly mixed day, the rally began just before the 4pm GMT fixing team […]

30/09/2020

The dollar held firm amid a fierce US election debate

GBP Sterling fell against the US dollar on Tuesday as Bank of England Governor Andrew Bailey warned that an economic recovery may not be straight forward with a lot of complications facing the British economy. With the prospect of a second wave of Covid-19 and the possibility of a no deal Brexit, Bailey believes an […]

29/09/2020

Optimism over trade deal lifts sterling

GBP Sterling rallied against both the euro and dollar yesterday amid increased optimism amongst investors that this weeks trade talks will finally yield some progress and form the basis of a trade deal. The increased optimism amongst investors has been caused by a shift in tone in talks from both sides. Last week, reports citing […]

25/09/2020

Sterling made a tentative recovery against both the euro and dollar

GBP Sterling made a tentative recovery against both the euro and dollar yesterday benefitting from renewed Brexit optimism and the introduction of a new government scheme to support jobs. British Chancellor Rishi Sunak unveiled his “winter plan” yesterday which included a new job retention scheme to help curb the threat of rising unemployment once the […]

24/09/2020

UK economic recovery slows

GBP Sterling held its ground against both the euro and dollar yesterday despite the latest UK PMI data indicating that the economic recovery lost momentum in September. According to the data released by the Office for National Statistics, the UK Manufacturing index declined from 55.2 previous to read 54.3. The services sector also experienced a […]


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