Category: Daily blog
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Now for the hard bit!
At the start of this week, MPs in the UK were probably thinking a Brexit deal was unlikely and an Article 50 extension was probable, followed by a general election and continued uncertainty. This morning, against the odds perhaps, there’s a deal on the table and the chance to “get this thing done” to quote Boris (i.e. the UK formally leave the […]
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No white smoke yet
There’s no white smoke yet regarding a Brexit deal, or as Boris Johnson has put it, we’re close to the summit but not yet at the top of the mountain. It seems the EU and the UK have agreed on the issues of customs and consent with negotiations continuing in relation to a VAT regime between […]
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Sterling advances
Soundings around a possible Brexit deal became increasingly positive yesterday, fuelling optimism that an agreement could be reached between the UK and the EU and prompting another leg higher in the pound which strengthened to an intra-day high of around 86.25p against the euro and almost $1.28 against the dollar. The euro-dollar exchange rate remains in the […]
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Deal or no deal?
The pound ebbed and flowed yesterday amid conflicting news reports regarding whether or not a Brexit deal in time for this week’s European Summit is likely . However, the chief negotiator on the EU side, Michael Barnier, has this morning struck a cautiously optimistic note – saying the two sides are working hard, the negotiations are intense, and that […]
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Sterling off its highs
The pound powered ahead last week on optimism regarding a potential Brexit deal, strengthening to a high of just under 87p against the euro and to over $1.27 against the dollar, but it has since fallen back from these levels while still running well ahead of where it was trading this day a week ago. Amid all of this, the euro is not […]
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Pound powers ahead
What a difference a day makes! This time yesterday morning it was all doom and gloom about Brexit – but this morning there is some light at the end of the tunnel perhaps compliments of Boris and Leo. Sterling has powered ahead as a result, strengthening to about 88.5p against the euro (from around 90p yesterday) and to $1.2450 against the dollar […]
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Sterling still under pressure
The pound remains under pressure this morning, not hugely so but still knocking on the door of 90p against the euro and hovering around the $1.22 level against the dollar. The single currency has advanced a little against the dollar, moving back above $1.10 earlier this morning. Meanwhile, core bond yields nudged up yesterday as stocks rebounded following two down days […]
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Sterling loses some ground
The pound has lost some ground against both the euro and the dollar, as tensions run high between the UK and the EU ahead of next week’s Council meeting on 17th-18th October, weakening to almost 89p and $1.22 respectively. The single currency is continuing to trade in a relatively narrow range against the dollar and is hovering just below $1.10 this morning Equity […]
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Quiet start to the week
It was a quiet start to the week with the main exchange rates trading in narrow ranges and largely unchanged on the day. Hence the euro continues to hover just below $1.10 against the dollar and at just over 89p against sterling, with the pound trading at circa $1.23 against the dollar Bond yields in the core […]
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Euro off its lows
The euro has recovered from its lows of under $1.09 last Monday to trade close to $1.10 against the dollar at the start of play this Monday, with generally soft economic data out of the US last week weighing on the latter. The pound has given up a little ground to the single currency – to […]