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Sterling begins to slide as economic data comes out weaker than expected.

Following the confirmation of Article 50 (March 15th) and the back and forth between the House of Commons & House of Lords last week, the only thing left to weaken off the Pound was economic data, and this was done on Friday morning after the release of UK PMI (Purchasing Manager Index) data. Since the […]

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May Visits Trump

Prime Minister Theresa May called on President Donald Trump on Thursday to renew the “special relationship” between Britain and the United States and lead in a new, changed world. In the United States for what will be Trump’s first meeting with a foreign leader since he took office last week, May signaled a shift in […]

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UK GDP Better Than Forecast

Sterling hit a six-week high against the dollar and hit a three-week high against the euro this morning, This was after data showed Britain’s economy kept its robust momentum in the final three months of 2016, again wrong-footing expectations that the vote for Brexit would rapidly take a toll on growth. It is, however, still […]

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Sterling Continues To Push Against Majors

  • Posted by Shyam Gokani in Uncategorised
  • January 25, 2017
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Sterling continues gains against major currencies this morning, pausing after a rollercoaster ride yesterday that followed a Supreme Court ruling that Britain’s government must go through parliament before starting talks to quit the EU. The pound jumped to five-week highs on Tuesday after the first sections of the ruling were read, but was then hit […]

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May Must Get Parliament Approval For Brexit Negotiations

The Supreme Court ruled this morning that Prime Minister Theresa May must get parliament’s approval before she begins Britain’s formal exit from the European Union. The UK’s highest judicial body dismissed the government’s argument that May could simply use executive powers known as “royal prerogative” to invoke Article 50 of the EU’s Lisbon Treaty and […]

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Sterling Makes Biggest Gains This Morning

Sterling was the biggest gainer among developed-market currencies this morning, hitting a five-week high, as investors bet the Supreme Court would on Tuesday rule the British government needs parliamentary approval to trigger formal Brexit talks. British Prime Minister Theresa May has said she will trigger Article 50 of the EU’s Lisbon Treaty – the formal […]

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Brexit – A Long Way To Go

  • Posted by Shyam Gokani in Uncategorised
  • January 20, 2017
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Markets responded well to PM May’s speech on Wednesday with the pound surging against all its counterparts. Why wouldn’t they? May outlined a dream scenario. The ability to leave the EU, cherry pick trade agreements and elements of the EU constitution at will. If anyone was going to put together a manifesto to take to […]

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Sterling Steadies After A Few Volatile Days

  • Posted by Shyam Gokani in Uncategorised
  • January 19, 2017
  • No Comments

The pound steadied this morning after a few days in which uncertainty about Brexit has seen both its biggest rise in decades against the dollar and two of its heaviest slumps in months. Sterling climbed back above $1.2320, having been knocked as low $1.2254 overnight by a dollar rally after Federal Reserve head Janet Yellen […]

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PM’s Speech Boosts Sterling

After taking the top spot in the G10 currency space on Tuesday, the pound is the worst performer so far today. After the rapturous reception to Theresa May’s speech, today sterling traders may be taking a finer look at the detail, and concerns may start to arise about Theresa May’s tough line on Europe, saying […]

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May Speaks Thus Afternoon About Brexit Plans

  • Posted by Shyam Gokani in Uncategorised
  • January 17, 2017
  • No Comments

The pound recovered from 3-month lows this morning, rising 0.7 percent against a broadly weaker dollar and 0.3 percent against the euro before a speech by Prime Minister Theresa May widely expected to lay out a “hard Brexit” scenario. Options pricing suggested markets were still preparing for large swings in the pound over the next […]

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