Brexit

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 […]

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 […]

10/11/2020

Sterling higher on Brexit and vaccine hopes

GBP Surging global stock markets and rumours that the UK is potentially shifting its position on the matter of fishing rights in ongoing EU-UK trade negotiations, in order to secure a deal, have pushed the Pound higher against both the Euro and Dollar. Sterling rallied throughout yesterday against the Euro and Dollar but dropped slightly […]

02/11/2020

Sterling remains subdued as it awaits further Brexit developments

GBP Sterling traded within a cent range against the Dollar at the end of last week, absence of news around ongoing Brexit trade negotiations left currency markets reluctant to make big bets either way on the currency. Sterling did however manage to reach a two-month high against an under performing and under pressure Euro last […]

29/10/2020

Brexit impasse and rising Covid-19 cases hurts Sterling

GBP Sterling fell against both the euro and dollar during Wednesday trading as the worsening global COVID-19 situation and current Brexit impasse took its toll on the risk sensitive pound. According to the latest government figures, the UK reported another 24,701 cases of Covid-19 yesterday with a further 310 deaths. This rapidly deteriorating situation has […]

26/10/2020

PMI data causes sterling to fall

GBP Sterling fell on Friday against both the US dollar and euro after the UK Purchasing Managers’ Index (PMI) fell to a four-month low. The PMI fell to a low of 52.9 in October from 56.5 in September. The UK’s economic recovery has stalled since August. The threat of a second wave of coronavirus cases, […]

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, […]


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