Pound falls as optimism fades in last-ditch Brexit negotiations
4 years, 1 month ago

Pound falls as optimism fades in last-ditch Brexit negotiations

Live Mint  

The pound declined as investors questioned how close Britain and the European Union really are to sealing a trade agreement. Monday Blues Traders had speculated on a weekend deal, but pessimism is solidifying, with the relative cost of hedging a weaker sterling over the coming month staging its longest advance in 17 years. “The risk now is that optimism turns to pessimism and we have to hedge for a no-deal Brexit.” Trouble in Store Hopes that the EU and U.K. can reach a deal boosted the pound by about 8% against the dollar since June through the end of last week, with traders assuming that negotiators would reach a last-minute resolution after more than four years of Brexit drama. Yet traders are getting jumpy, with the cost of insuring sudden moves in the pound in the coming week reaching its highest since early April. The pound could rise 2% to 3% on a deal, but failure to reach agreement could see the currency drop as much as 8%, said Lee Hardman, a currency analyst at MUFG.

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History of this topic

Sterling slides for a fourth day amid bond market turmoil
5 days, 1 hour ago

Sterling slides for a fourth day amid bond market turmoil

Live Mint  

By Greta Rosen Fondahn Jan 10 - Sterling continued its slide on Friday, its fourth day of falls, as elevated global bond yields kept the currency under pressure. Global borrowing costs have soared amid concerns about rising inflation, reduced chances of a drop in interest rates, and uncertainty over how U.S. President-elect Donald Trump will conduct foreign or economic policy. …

London’s FTSE 250 slumps and pound weakens as UK gilt yields spike
6 days, 15 hours ago

London’s FTSE 250 slumps and pound weakens as UK gilt yields spike

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s stock markets faltered on …

London markets plunge after Fed decision hammers Wall Street
3 weeks, 5 days ago

London markets plunge after Fed decision hammers Wall Street

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FTSE 100 tumbled on …

London markets weaken as oil prices slip
5 months, 3 weeks ago

London markets weaken as oil prices slip

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s stock market weakened on …

How Brexit became prime suspect in the death of the stock market
1 year ago

How Brexit became prime suspect in the death of the stock market

The Telegraph  

“We are using legal and regulatory reform, going alongside the shift in cultural mindset and market practice, to make sure that we increase investment in British business, we increase wealth for ordinary retail investors and we increase the size of the economy.” The reforms have been welcomed by the industry, who say it is a step in the right direction. …

Pound slips as UK growth forecasts downgraded and oil prices plunge
1 year, 1 month ago

Pound slips as UK growth forecasts downgraded and oil prices plunge

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The pound has fallen and …

Shares fall in London as natural resources sector weighs
1 year, 8 months ago

Shares fall in London as natural resources sector weighs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “After a quiet session for Asia markets, European markets …

Pound claws back losses after fall to $1.10 following Liz Truss's resignation
2 years, 2 months ago

Pound claws back losses after fall to $1.10 following Liz Truss's resignation

Daily Mail  

The pound - which briefly rallied after Liz Truss resigned - has plunged to its lowest level all week as Boris Johnson was floated as her possible replacement. The pound clawed back most of its losses after falling sharply on Friday morning following Liz Truss's resignation on Thursday It was a grim sight for those looking at the pound to …

Pound rebounds to levels seen before mini-budget chaos as Chancellor U-turns
2 years, 3 months ago

Pound rebounds to levels seen before mini-budget chaos as Chancellor U-turns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The pound has bounced back …

Sterling turns positive as dollar wavers and PM Truss defends economic plans
2 years, 3 months ago

Sterling turns positive as dollar wavers and PM Truss defends economic plans

The Hindu  

Sterling fell as much as 1% on Thursday before cutting losses and turning positive as the dollar wavered and British Prime Minister Liz Truss defended the government's economic plans. Truss said big tax cuts were the right path for Britain and refused to consider reversing the so-called "mini budget" laid out last week, which triggered chaos in markets. Adam Cole, …

British pound plunges to new low against dollar as tax cuts spark concern
2 years, 3 months ago

British pound plunges to new low against dollar as tax cuts spark concern

LA Times  

The British pound has fallen dramatically against the dollar amid concern over the government’s plans to cut taxes and boost spending. The pound fell to an all-time low against the dollar early Monday after Britain’s new finance minister unveiled a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the country teeters on the brink of …

British pound hits a 37-year low as UK economy skids
2 years, 3 months ago

British pound hits a 37-year low as UK economy skids

CNN  

London CNN Business — The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as inflation squeezes household budgets, underscoring fears that the economy may already be shrinking. The currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that retail sales in August dropped …

Traders bet £5bn against the pound
2 years, 8 months ago

Traders bet £5bn against the pound

The Telegraph  

Sterling is being hit by a double whammy of recession worries and expectations that the Bank of England will not raise interest rates as aggressively as the US Federal Reserve. “We're starting to see signs of a notable loss of growth momentum at the end of the first quarter and that's not a good signal for GDP growth as we …

Andrew Bailey warns of massive downturn as pound suffers biggest fall in two years
2 years, 8 months ago

Andrew Bailey warns of massive downturn as pound suffers biggest fall in two years

The Telegraph  

The pound suffered its steepest fall since the onset of the Covid crisis on Thursday as traders panicked after the Bank of England warned over a recession. Sterling fell as much as 2.2pc against the dollar to a near-two year low of $1.23 as analysts warned that a “toxic mix” of high inflation and stalling growth threatens to push the …

London markets finish lower after Drahi ups BT stake
3 years, 1 month ago

London markets finish lower after Drahi ups BT stake

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London stocks tipped into the …

London markets drop into red as trader caution returns
3 years, 3 months ago

London markets drop into red as trader caution returns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The London markets’ recent rally …

Brexit Deal Fuels Sterling While Stocks Edge Higher Ahead Of Holiday
4 years ago

Brexit Deal Fuels Sterling While Stocks Edge Higher Ahead Of Holiday

News 18  

The British pound rose on Thursday as Britain and the European Union clinched a free trade deal, while a global gauge of stocks edged upward amid investor optimism toward economic growth. “There are still some big challenges in the UK economy, and they’re doing a pretty aggressive lockdown, which is going to have economic implications.” The trade deal helped European …

Brexit: Pound heading for a crash if Britain fails to get a trade deal
4 years, 1 month ago

Brexit: Pound heading for a crash if Britain fails to get a trade deal

CNN  

London CNN Business — The British pound could plunge by 10% or more if the United Kingdom does not finalize a trade deal with the European Union this weekend. Currency traders who once assumed a deal would be completed before a Brexit transition period ends on January 1 will be nervously watching events over the next 72 hours after British …

Brexit: Britain’s trade choice could prolong the worst recession in 300 years
4 years, 1 month ago

Brexit: Britain’s trade choice could prolong the worst recession in 300 years

CNN  

London CNN Business — The UK economy is suffering its worst recession in more than 300 years and failing to secure a new trade deal with the European Union will make its recovery even longer and more arduous, according to the country’s independent fiscal watchdog. The Office for Budget Responsibility said on Wednesday that a no-deal Brexit would reduce output …

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor
4 years, 1 month ago

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor

CNN  

London CNN Business — Bank of England Governor Andrew Bailey has warned that failing to secure a new trade deal with the European Union would do more damage to the UK economy over the long run than the coronavirus pandemic. “I think the long-term effects … would be larger than the long-term effects of Covid,” Bailey said Monday in response …

Pound jumps as Johnson gets big win in UK election
5 years, 1 month ago

Pound jumps as Johnson gets big win in UK election

CNN  

London CNN Business — UK stocks and the pound shot higher after British Prime Minister Boris Johnson secured an election victory that clears the way for Britain to quickly leave the European Union. The election also ends Labour Party leader Jeremy Corbyn’s hopes of transforming the UK economy through a spree of left-wing policies that scared the business community. For …

The pound has been riding high. A UK election surprise could send it crashing
5 years, 1 month ago

The pound has been riding high. A UK election surprise could send it crashing

CNN  

London CNN Business — Investors are betting that Prime Minister Boris Johnson will sweep to victory in Thursday’s election. But recent polling suggests there’s still the chance of a hung parliament, which would open the door to Labour forming a minority government with the support of a smaller party. “The biggest surprise would be a Labour-led coalition, which would not …

Why investors can’t get too excited about the new Brexit deal
5 years, 2 months ago

Why investors can’t get too excited about the new Brexit deal

CNN  

London CNN Business — The British pound and UK stocks shot up on news that UK Prime Minister Boris Johnson had clinched a new Brexit agreement with the European Union. The pound initially raced toward $1.30 on Thursday on the news that Johnson had secured a deal that could prevent Britain from crashing out of the European Union on October …

British PM Boris Johnson’s ’final’ Brexit deal stirs sterling rebound
5 years, 3 months ago

British PM Boris Johnson’s ’final’ Brexit deal stirs sterling rebound

Live Mint  

London: Sterling rebounded from earlier lows on Wednesday as hedge funds covered some of their short bets against the currency after Prime Minister Boris Johnson made a final Brexit offer to the European Union. Though the final offer met with a relatively cool reception from EU officials, President Jean-Claude Juncker said Britain's proposal included some "positive advances" but there were …

Pound tumbles against dollar and euro as Ireland roundly rejects Boris Johnson's Brexit plan
5 years, 3 months ago

Pound tumbles against dollar and euro as Ireland roundly rejects Boris Johnson's Brexit plan

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

Pound hits highest level in MONTHS on Brexit deal optimism
5 years, 3 months ago

Pound hits highest level in MONTHS on Brexit deal optimism

Daily Mail  

brexit countdown_bg Created with Sketch. This morning the currency was trading at 1.2574 US dollars - the highest level since early July - while against the euro it hit 1.1360. In an interview last night, Mr Juncker said the hated Irish backstop could be scrapped as long as 'all' the bloc's demands are met some other way. In early trading …

UK currency volatile as investors try to gauge Brexit risks
5 years, 4 months ago

UK currency volatile as investors try to gauge Brexit risks

Associated Press  

LONDON — The pound on Tuesday touched its lowest level against the dollar since 1985, excluding a brief “flash crash” in 2016 that may have been caused by technical glitches, as international investors fret over a political showdown over Brexit this week. Brexit is facing a crucial few days as lawmakers challenge Prime Minister Boris Johnson’s insistence that the U.K. …

Pound sterling goes on a wild ride amid Brexit turmoil
5 years, 4 months ago

Pound sterling goes on a wild ride amid Brexit turmoil

CNN  

London CNN Business — The pound was whipsawed by political turmoilon Tuesday as UK Prime Minister Boris Johnson sufferedaparliamentary revoltaimed at preventing Britain from leaving the European Union without a deal to protect the economy. Lawmakers succeeded Tuesday night in taking control of the parliamentary agenda so they can attempt to pass legislation outlawing a “no deal” Brexit, unless it …

Pound wobbles after Johnson reveals plan to prorogue Parliament: as it happened
5 years, 4 months ago

Pound wobbles after Johnson reveals plan to prorogue Parliament: as it happened

The Telegraph  

The pound looked like it was going to take a star turn today, but after a steady comeback, it managed to reach the session’s end less than 0.5pc down against the dollar and the euro — far from a disastrous day given the sounds coming from Westminster. In the grander scheme of things, the currency’s drop still appears pretty steady, …

Pound hits fresh two-year low as Brexit fears spook investors
5 years, 5 months ago

Pound hits fresh two-year low as Brexit fears spook investors

CNN  

London CNN Business — The pound has slumped to its weakest level in more than two years. Prime Minister Boris Johnson has used his first days in office to double down on his threat to leave the European Union on October 31 “no matter what.” Now, fears that Britain will leave the European Union without an agreement in place to …

Boris Johnson’s Brexit plan drives pound lower
5 years, 5 months ago

Boris Johnson’s Brexit plan drives pound lower

CNN  

London CNN Business — Britain is moving closer to the nightmare Brexit scenario businesses have long feared. A major lobby group warned that a disorderly Brexit would disrupt almost every part of the UK economy, and French carmaker PSA said new trade barriers could doom its factory near Liverpool. Michael Gove, the government minister Johnson has put in charge of …

Could the pound crash to one dollar? A Boris Johnson Brexit might make it happen
5 years, 5 months ago

Could the pound crash to one dollar? A Boris Johnson Brexit might make it happen

CNN  

London CNN Business — Could the value of the pound drop to just one US dollar? Johnson has said the United Kingdom must leave the European Union by October 31 with or without an agreement to protect trade with the country’s biggest export market. “It’s going to be a long and painful grind all the way to October 31.” Analysts …

Pound flashes red as think tank warns UK economy may ALREADY be in recession
5 years, 5 months ago

Pound flashes red as think tank warns UK economy may ALREADY be in recession

Daily Mail  

The increasing risk of a no-deal Brexit may already have tipped the UK economy into recession, a leading think-tank warned today. The pound fell against both the dollar and the euro today as Johnson edged ever closer to becoming the next Prime Minister and NIESR issued a stark warning It said: 'The outlook beyond October, when the United Kingdom is …

No-deal Brexit will tip UK into recession, government's official spending watchdog says
5 years, 5 months ago

No-deal Brexit will tip UK into recession, government's official spending watchdog says

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Office for …

ALEX BRUMMER: Britain takes a pounding
5 years, 5 months ago

ALEX BRUMMER: Britain takes a pounding

Daily Mail  

The dilemma for Bank of England interest rate-setters as they head towards the August meeting and release of the Inflation Report gets tougher by the day. The sharp fall in sterling, as Britain's two prospective prime ministers harden their negotiating positions on Brexit, risks a disorderly few months ahead with the pound moving towards parity against the euro and the …

Branson: Pound could be just a dollar in ‘no-deal’ Brexit
5 years, 6 months ago

Branson: Pound could be just a dollar in ‘no-deal’ Brexit

Associated Press  

LONDON — Virgin Group founder Richard Branson has warned that the pound’s value would fall to that of the dollar if Britain leaves the European Union without a deal — a stark prediction that will fuel worries about the economic pressures facing the country. Traders see the possibility of a ‘no-deal’ Brexit increasing because Boris Johnson, the front-runner in the …

British pound falls amid Brexit fears
5 years, 10 months ago

British pound falls amid Brexit fears

CNN  

London CNN Business — The British pound trimmed some of the losses it suffered during volatile trading on Tuesday after UK lawmakers voted down the latest version of Prime Minister Theresa May’s deal on Brexit. Speaking to lawmakers just minutes after the vote, May said the default scenario is leaving the European Union without a deal on March 29. May …

Sterling wipes out day’s gains amid reports PM is facing no-confidence vote
6 years, 1 month ago

Sterling wipes out day’s gains amid reports PM is facing no-confidence vote

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sterling plummeted on …

Brexit: Pound drops as Theresa May delays Commons vote on EU deal
6 years, 1 month ago

Brexit: Pound drops as Theresa May delays Commons vote on EU deal

The Independent  

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Brexit: David Davis says pound crashing after no-deal departure would be 'not a bad thing'
6 years, 1 month ago

Brexit: David Davis says pound crashing after no-deal departure would be 'not a bad thing'

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy David Davis says the pound crashing after a no-deal Brexit would …

Wall St surges on hints of fewer US Fed rate hikes, dollar falls
6 years, 1 month ago

Wall St surges on hints of fewer US Fed rate hikes, dollar falls

Live Mint  

New York: Comments by US Federal Reserve chair Jerome Powell that benchmark US interest rates were “just below” neutral sparked a sharp rally on Wall Street Wednesday, easing investor worries about the pace of rate hikes by the US central bank next year. Meanwhile, the dollar retreated with potentially fewer rate hikes on the horizon, and sterling rose after the …

Pound: Sterling falls sharply as risk of chaotic Brexit rises
6 years, 2 months ago

Pound: Sterling falls sharply as risk of chaotic Brexit rises

CNN  

London CNN Business — The British pound dropped sharply on Thursday after two key UK government ministers resigned, plunging the Brexit process into deep uncertainty and hiking the risk of a chaotic rupture with the European Union. Brexit Secretary Dominic Raab said in a statement on Thursday that he “cannot in good conscience support the terms proposed for our deal” …

European stocks struggle, US futures fall as trade hopes fade
6 years, 2 months ago

European stocks struggle, US futures fall as trade hopes fade

Live Mint  

London: Stocks in Europe struggled on Monday after Asian shares declined as optimism over a potential U.S.-China trade deal receded. Stocks The Stoxx Europe 600 Index dipped less than 0.05 percent as of 8:03 a.m. London time, the first retreat in more than a week. The MSCI Emerging Market Index sank 1.1 percent, the first retreat in a week and …

UK envoy urges EU to step back from the Brexit ‘abyss’
6 years, 3 months ago

UK envoy urges EU to step back from the Brexit ‘abyss’

Associated Press  

LONDON — Britain’s foreign secretary on Saturday urged European Union leaders to “step back from the abyss” and seek a compromise over stalled Brexit negotiations. Jeremy Hunt told the BBC that the EU should work with Britain to try to find a way to make British Prime Minister Theresa May’s “sensible, concrete proposals actually work” in the divorce between Britain …

The Latest: EU’s Tusk says Brexit compromise still possible
6 years, 3 months ago

The Latest: EU’s Tusk says Brexit compromise still possible

Associated Press  

LONDON — The Latest on Brexit, the political divorce between Britain and the rest of the European Union : 6:30 p.m. EU Council President Donald Tusk says he remains convinced that a Brexit compromise that is “good for all, is still possible.” His comments come a day after a clear lack of progress at an EU leaders summit in the …

Brexit: 'No-deal' fears push sterling to 12-month low
6 years, 5 months ago

Brexit: 'No-deal' fears push sterling to 12-month low

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Bank of …

Pound sterling slumps on new Government warnings of no-deal Brexit
6 years, 5 months ago

Pound sterling slumps on new Government warnings of no-deal Brexit

The Independent  

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UK interest rates: Pound sterling drops sharply after Bank of England hike
6 years, 5 months ago

UK interest rates: Pound sterling drops sharply after Bank of England hike

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sterling’s decline coincided with the Bank’s press conference, during …

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