Brexit

06/01/2021

Brexit optimism overshadowed by new lockdown measures

GBP The Pound was pretty flat yesterday, holding at levels well below the two and a half year high against the Dollar we saw in the aftermath of the Brexit talks coming to a successful end, as a new lockdown deflated optimism from a post-Brexit trade deal with the European Union. The new measures, which […]

24/12/2020

Brexit deal imminent

GBP It has been some 1645 days since Britain voted to leave the EU on the 23rd June 2016. We may now only be a few hours away from moving on from the Brexit saga. Yesterday, multiple reports from both EU and UK parties indicated that a Brexit was ‘done’. As a result, sterling strengthened […]

23/12/2020

Sterling remains under pressure

GBP Sterling continued to remain under pressure yesterday as Britain remained stuck in COVID-19 isolation due to the news of a new coronavirus strain, hopes of progress in Brexit talks did however help relieve some pressure off the Pound. European Union Chief Brexit Negotiator Michel Barnier said the EU is giving a final push to […]

21/12/2020

New Covid strain worries investors

USD US congressional leaders have confirmed that a new stimulus package, worth roughly $900 billion has now been agreed. The bill includes additional unemployment benefits, stimulus cheques and support for several hard hit industries. This is the second largest US economic relief in US history, after the first stimulus package in March. Final votes are […]

17/12/2020

Dollar falls to multi-year lows

USD The dollar sank to fresh 2-1/2-year lows against major peers including the British pound and euro on Wednesday as progress towards agreeing a U.S. stimulus package and a Brexit deal boosted risk appetite at the expense of the safest assets. Congressional negotiators are getting closer to agreeing a $900 billion COVID-19 aid bill, lawmakers […]

15/12/2020

Sterling gains as Brexit talks are extended

GBP Sterling rallied against the euro and dollar during early trade on Monday, benefitting from news that Britain and the European Union had agreed to extend trade talks past Sunday’s deadline. The news injected fresh optimism back into markets that a deal could be achieved as early as this week after a demoralising previous week […]

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 […]


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