GBP News 

British pound slips as U.K. parliament votes to change Brexit plan

“The British pound fell off session highs on Wednesday following news that British lawmakers voted in favor of changing Prime Minister Theresa May’s Brexit plan” writes Anneken Tappe for marketwatch.com. The British pound GBPUSD, +0.4355% remained in positive territory, propped up by a sliding U.S. dollar, which fell after the Federal Reserve raised interest rates but failed to update its forward guidance for the future interest rate hikes and inflation, according to market participants. One pound last bought $1.3369, up 0.4%, while the euro EURGBP, -0.0680% gained 0.1% against sterling…

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GBP News 

This simple prisoner’s dilemma chart from ING explains what Brexit could do to the pound in 2018

“On the surface, the announcement should have been good news for the pound, creating a little bit more certainty about Brexit talks going forward” writes Will Martin for businessinsider.com. In reality the opposite happened, with a small but not insignificant drop in the pound’s value against the euro and the dollar.Almost 10 months on, ING has released its FX outlook for 2018, and included an updated version of the chart, chronicling how both the pound and euro are likely to fare in the next year. Source: businessinsider.com Share This:

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News 

Number of million-pound home sales falls in London, Scotland and Wales

“While prime property sales in the North West of England and Yorkshire were up year-on-year, the number of million pound property sales in London, Scotland and Wales was down, Lloyds Bank found” writes Vicky Shaw for independent.co.uk. By contrast, million pound property sales in the North West of England and Yorkshire and the Humber have jumped by 55 per cent and 45 per cent respectively, albeit from much lower bases. Source: independent.co.uk Share This:

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GBP News Stocks 

European banks rally, leading stocks to 1-month high

“Bank stocks were in rally mode after news of the Brexit breakthrough and after global financial officials finally signed a deal Thursday to harmonize banking rules” writes Markets Reporter for marketwatch.com. Financial and technology stocks were the biggest gainers on a sector basis, while the oil and gas, and consumer goods groups were lower.Friday’s Brexit breakthrough also helps the financial industry, as it brightens the prospects for a smooth transition when the U.K. withdraws from the EU in 2019.European stocks rose Friday, headed for their highest close in a month,…

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GBP News 

FTSE 100 edges down as Brexit breakthrough lifts the pound

“But the FTSE 100 was hampered by pound strength, as roughly 75% of revenue for companies listed on the London index is generated overseas” writes Markets Reporter for marketwatch.com. How markets are moving: The FTSE 100 index UKX, +0.29% edged down 1.5 points to 7,319.10, after opening fractionally higher.But the benchmark FTSE 100 was hurt by the rising pound, which gained more strength after the news.Elsewhere, mining shares rose after Chinese exports rose for the ninth straight month, blowing past forecasts. Source: marketwatch.com Share This:

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GBP News 

Pound rallies to 6-month high against euro after Brexit breakthrough

“Those ended early Friday, with Jean-Claude Juncker, president of the European Commission, saying there had been a breakthrough in Brexit talks” writes Markets Reporter for marketwatch.com. Against the dollar GBPUSD, +0.0000%  , the pound initially spiked to an intraday high of $1.3521, but has since slipped back to $1.3499.The pound rallied against all other major currencies on Friday morning, scoring a six-month against the euro, after the U.K. and the European Union came to terms on issues that were holding up the next stage of Brexit talks.The breakthrough reduces the…

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GBP News 

This Is How The Pound Is Reacting To The Brexit Divorce Deal

“The pound initially declined against the euro and US dollar on Friday morning as news of the Brexit divorce deal was announced, but quickly recovered” writes unknown author for huffingtonpost.com.   We agreed…there should be no barriers north-south or east-west.” Follow our live blog for the latest updates as the Brexit divorce deal is agreed.May said the deal “had required give and take on both sides” and after “some tough negotiations” she had agreed the ‘divorce bill’, which is expected to total up to £50bn.The currency began to recover from…

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GBP News 

Pound rises against dollar and euro after major Brexit breakthrough

“The pound rose against a host of currencies on Friday morning, after the European Commission declared that enough progress had been made in Brexit talks to move on to a second phase of negotiations” writes Josie Cox for independent.co.uk. In early trading, sterling was up around 0.3 per cent against the dollar and 0.4 per cent against the euro.It also rose against Japan’s yen, the Swiss franc, the Australian and Canadian dollars and a selection of other world currencies.Stephen Martin, director general of the Institute of Directors agreed. “The most…

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GBP News 

Pound slides to 6-day low as Brexit talks hit deadlock again

“The pound was slammed by the latest developments in the Brexit talks between London and Brussels” writes Markets Reporter for marketwatch.com. The British pound slumped to an almost one-week low on Tuesday, driven lower by concerns over the U.K.’s Brexit talks hitting another wall, with just 10 days to go to a key meeting between European leaders. Source: marketwatch.com Share This:

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