News and Analysis

Market News and Analysis

14/12/2020

UK and EU leaders agree to continue Brexit talks

GBP Traders were relieved that a no-deal was avoided, all be it temporarily on Sunday as the UK and European Union agreed to continue negotiations beyond the latest deadline. The jump was felt most within the pound, which clearly demonstrates investor relief and hope that a post-Brexit trade deal can be reached. Until last week, […]

11/12/2020

Sterling Drops Ahead of Sunday

GBP The pound took further losses against the US Dollar and the Euro yesterday, as currency markets became more cautious around the possibility of a no-deal Brexit. Sterling has been volatile on Brexit headlines, dropping in response to news suggesting a deal is unlikely and rising when hopes are raised. Britain has once again told […]

10/12/2020

Sterling falls as investors re-evaluate no-deal risk

GBP Boris Johnson travelled to Brussels last night in the hope to bridge the gap on a post Brexit trade deal. A final deadline has now been set for Sunday. As a result, sterling fell 0.5% this morning, and continues to fall, with GBP/EUR trading @ 1.10 and GBP/USD trading @ 1.33. The ‘lively’ dinner, […]

08/12/2020

Sterling falls as investors re-evaluate no-deal risk

GBP Sterling fell to six week lows against the Euro and fell against the dollar as little progress in Brexit talks have led investors to re-evaluate the risk of a no-deal. Michael Barnier speaking on Monday said that he was ‘rather downbeat’ about chances of a deal, the pound is very sensitive to Brexit headlines […]

07/12/2020

Brexit talks hang in the balance

GBP Sterling retracted from a 2 and a half year high against the US dollar at the end of last week after Britain and the European Union failed to strike a trade agreement, with discussions being temporarily paused to allow negotiators to talk to politicians for guidance. The euro also moved higher against sterling after […]

04/12/2020

Sterling hits one year highs against the US Dollar

GBP The pound rallied against the euro and moved to it’s best level for a year against the dollar yesterday as a Brexit conclusion drew nearer. According to various reports during early Thursday trade UK-EU trade talks were on course for a much needed breakthrough with some reports suggesting the “big push” was underway and […]

03/12/2020

Brexit anxieties weigh on sterling

GBP Sterling fell to one month lows against the Euro and fell against the US dollar as doubts remain as to whether a post Brexit trade deal can be achieved. Differences remain between the U.K. and EU on the main sticking points which consist of fisheries, state aid and fair competition. Brexit uncertainty overshadowed positive […]

02/12/2020

Sterling edges higher as Brexit talks enter ‘tunnel’ stage

GBP Sterling climbed to a three-month peak versus the dollar after Times Radio said Brexit trade deal talks had entered the “tunnel” stage of negotiations. The “tunnel” is a term used for an intense final stage of secretive, make-or-break negotiations. Sterling rose as much as 0.9% to $1.3441, extending gains after the news broke. While […]

30/11/2020

Sterling holds ground despite Scottish referendum uncertainty

GBP Sterling remained at near three-month highs against the Dollar but fell slightly against the Euro late last week, as Brexit talks continued whilst the currency also brushed off talks of a Scottish independence referendum that could cause major uncertainty down the line after Brexit. Weakness in the U.S. dollar caused by thin trading due […]

27/11/2020

Sterling remained at three month highs against the US dollar

GBP Sterling remained at three month highs against the US dollar on Thursday as dollar weakness offset uncertainty surrounding Brexit. Investors are looking for progress on a trade deal between the UK and the EU, but this week there has been little developments with face to face talks postponed. Reports are suggesting that EU Chief […]

26/11/2020

Economic recovery looks bleak

GBP Yesterday Rishi Sunak unveiled future plans for UK spending, painting somewhat of a bleak picture for the road to recovery. The update confirmed that GDP will contract by 11.3% in 2020 and the government deficit was around 19%. In addition to this, UK borrowing will hit an all-time high with almost 400 billion being […]

23/11/2020

Brexit Optimism Resumes

GBP Sterling finished the week higher on Friday benefitting from rising Brexit optimism as investors took comfort in reports that a Brexit deal is 95% done. The reports were particularly reassuring for investors as they cited leaked notes from Fridays EU Brexit brief headed by European Commission Secretary Generale Ilze. Ilze, who was standing in […]

20/11/2020

Brexit talks suspended after positive Covid test

GBP Sterling continued to trade at one-week highs against both the Dollar and Euro as Sterling was aided by a weaker U.S. dollar and by increased hopes that the UK will forge a post-Brexit trade deal with the European Union before the January deadline. The EU and UK chief negotiators did however announce yesterday evening […]

19/11/2020

Sterling rises to one week highs

GBP Sterling rose to a one week high on Wednesday as positivity surrounding a Brexit agreement helped the British currency push higher. Reports are suggesting that an agreement between the UK and EU could be reached by early next week with the EU commissioner Valdis Dombrovskis saying that Britain and the bloc were in the […]

18/11/2020

Optimism surrounding Brexit edges sterling higher

GBP GBP-USD enjoyed a strong day of trade yesterday and continues the run off from this morning trading at 1.3272. GBP-EUR also maintained its levels and opened today over 1.1150. Reports are now suggesting a deal is close and we could expect the announcement as early as next week. Although, it must be noted, all […]

17/11/2020

Moderna vaccine improves risk appetite

GBP Sterling remained under pressure yesterday as investor attention moved away from global risk appetite and back on to Brexit negotiations. Overall market risk appetite has improved in recent days, and yesterday saw that continue as Moderna announced that its vaccine was 94.5% effective in preventing Covid-19. However sterling fell against its peers as traders […]

16/11/2020

Pivotal week for Brexit negotiations

GBP Sterling strengthened on Friday against both the Euro and Dollar after news that Dominic Cummings, Chief Adviser to the Prime Minister, left his post. Optimism is now building that a deal could be clinched with a compromise with the EU more likely now that Cummings has left his post. Cummings had a hard stance […]

13/11/2020

Poor GBP data hurts Sterling

GBP Sterling weakened on Thursday after news that Britain’s economy grew by a slower-than-expected 1.1% between August and September, a pace that leaves the UK lagging behind other rich nations attempting to recover from the coronavirus pandemic. The reading that was below market expectations weighed on the pounds recent rally and will provide a reality […]

12/11/2020

Lack of progress over Brexit causes Sterling to fall

GBP Sterling slipped from its highs yesterday as recent vaccine optimism has waned and a lack of progress of Brexit negotiations has seen downward pressure. This was then further exacerbated this morning as UK GDP missed estimates coming in below par at 15.5%. However this is a rebound from the previous quarter but does point […]

11/11/2020

Risk on sentiment boosts Sterling

GBP Sterling rallied close to early September highs on Tuesday benefiting from market sentiment shifting to risk-on amid hopes of a COVID-19 vaccine and a Brexit deal edging closer. The shift in market sentiment to risk-on follows the announcement from pharmaceutical company Pfizer that a vaccine that is 90% effective could soon be available. Commenting […]


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