The city is in shock this morning, as Sterling crashed by more than 6% in Asian trading, taking it to a new 31 year low, and the biggest move since Brexit. With speculation circling trading floors around the world as to what exactly caused the movement, algorithms, fat fingers, and mounting fears over a ‘hard’ […]

The pound fell sharply yesterday in early morning trading, as markets reacted to the latest instalment of Brexit. Over the weekend, Prime Minister Theresa May used her speech at the Conservative party conference in Birmingham to pledge that the UK will formally trigger Article 50 of the Lisbon Treaty before the end of March 2017, […]

The pound suffered huge losses in late Friday trading, compounded by a mix of strong US inflation numbers and more critically the fact that the Bank of England maintains its stance that more Brexit pain is due to come. Adding to that, reports emanated on Friday afternoon that Chancellor Hammond has given up on retaining […]

Sterling strength continued last week following the surprising news that UK data rose above expectations. The recent data throughout the past couple of weeks has contributed massively in easing concerns of an immediate post Brexit shock to the economy. We should expect to see rising tension in the newly-formed Cabinet today following PM Theresa May’s […]

Sterling rebounds following the CPI data release Sterling rebounded positively this morning on the back of a better than expected CPI reading, showing an increase of 0.6% against market expectation of 0.5%. Retail sales also rose 1.9% in July against June’s reading of 1.6%. General Transport and alcohol (weather related) were said to have been […]

The main story dominating the market yesterday was the Bank of England’s decision to cut interest rate by 25bp, to a new record low of 0.25%, and the launch of a massive stimulus package designed to save the UK economy from recession. The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to slash interest […]

In the aftermath of the landmark Brexit vote, the Governor of the Bank of England, Mark Carney, indicated that the UK could see an interest rate cut over the summer. Today was that day, as the central bank reduced the cost of borrowing from 0.50% to 0.25%. This is first UK interest rate cut in […]

Sterling has strengthened enough to regain some of the ground it lost at the start of the week, but it was also given a kick following a much smaller than expected fall in the UK construction PMI data for July – a reading of 45.9 against a forecasted 43.8. The construction sector is seen as […]

The uncertainty of Brexit is starting to feed into UK indicators. The CBI optimism in the UK fell to the lowest level since 2009 and recent economic data from the UK leans towards a recession in the latter half of 2016. This feedback will heap further pressure on the Bank of England to act in […]

The pound has finally found some relief after a sustained bout of post Brexit selling pressure. The confirmation that Conservative MP Theresa May will replace David Cameron as Prime Minister has helped to steady the ship. The focus is also shifting to the Bank of England (BoE) decision on Thursday with some expectation that the […]