Pound News: Brexit Uncertainty Leaves Sterling Volatile The Pound remained under pressure yesterday amid this week’s broad Brexit uncertainties, but the day’s lack of noteworthy Brexit developments meant that the British currency remained rudderless, fluctuating and reacting to movement in rivals. Sterling is being kept above its worst levels by speculation that the chances of…(read more)

Pound News: Sterling Climbs on Amendment for Parliament’s Say on Brexit On Tuesday night, Sterling investors were spooked by a parliamentary vote. The Pound briefly tumbled as MPs voted to hold the government in contempt of Parliament for refusing to publish Brexit legal advice. However, the following vote saw Parliament vote for an amendment that…(read more)

Pound News: EU Suggestion that Article 50 Could be Cancelled Boosts Pound On Tuesday, European Court of Justice (ECJ) Advocate General Manuel Campos Sanchez-Bordona suggested that if it wished, the UK would likely be able to unilaterally reverse Article 50 and cancel the Brexit process. Bets that the UK will not leave the EU are low, but speculation…(read more)

Pound News: Sterling Remains Unappealing on Broad Brexit Uncertainties The Pound fell against most major currency rivals yesterday, as markets opened against a backdrop of fresh criticism of UK Prime Minister Theresa May’s Brexit plan. In particular, the UK government has been criticised for withholding details of legal advice given to it over the Brexit…(read more)

Last week’s high: $1.2859 Last week’s low: $1.2729 GBP/USD Tumbles amid Brexit Fears and some Persisting Safe Haven Demand Despite risk sentiment surging last week on hopes of a breakthrough in US-China trade tensions, the Pound to US Dollar exchange rate ultimately fell as Brexit uncertainties kept the Pound even more unappealing and volatile than…(read more)

Last week’s high: €1.1345 Last week’s low: €1.1206 Weakening UK Consumer Confidence Weighs Down GBP/EUR Exchange Rate A weaker-than-expected UK GfK consumer confidence index left the GBP/EUR exchange rate on a downtrend last week. Uncertainty surrounding Brexit helped to drive the index to a thirteen-month low in November, suggesting that consumers were taking an increasingly…(read more)

Last week’s high: C$1.7054 Last week’s low: C$1.6880 Pound Pressured by Dire Brexit Warns The Pound Canadian Dollar exchange rate was hit by volatility last week as the Bank of England (BoE) release its Brexit analysis, with a warning that a no-deal Brexit could be hugely damaging to the UK economy. This was followed by…(read more)

Last week’s high: AU$1.7756 Last week’s low: AU$1.7401 Australian Dollar Rallies as US-China Tensions Perceived to be Cooling House prices remain an issue for the Australian Dollar, as capital city home prices are on track to fall by 0.9% in November, the largest decline since November 2008. With the ongoing US-China trade spat, the suggestion…(read more)

Pound News: Bank of England Caution and UK Prime Minister’s Warning Pressures GBP Investors sold the Pound on Thursday, as Bank of England (BoE) Governor Mark Carney followed up on the bank’s concerning Wednesday forecasts with warnings that Britain was still not sufficiently prepared for Brexit. On top of this, the Pound’s appeal weakened further…(read more)

Pound News: Hope over Brexit Deal Buoys Sterling After tumbling on fresh Brexit concerns on Tuesday, the Pound rebounded slightly yesterday as investors bet that the UK-EU Brexit deal would likely pass eventually. Markets are increasingly expecting that the UK-EU Brexit deal will be blocked when it first goes to Parliament in early December. However,…(read more)