GBP News 

Pound could hit $1.35 if Conservatives win and Brexit pact reached, UBS says

“The pound GBPUSD, +0.2289% again was higher on Thursday, rising to $1.3133 from $1.3105” writes European Markets Editor for marketwatch.com. Also read: Europe stocks advance while British equities get left behind as sterling climbs Elsewhere, M&G shares MNG, -3.38%  dropped for a second day, losing 4%, after the fund manager on Wednesday suspended redemptions from its flagship property fund.  Source: marketwatch.com

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GBP News 

Here’s everything investors need to know ahead of Britain’s election next week

“Sterling has been up and down in recent weeks as investors react to the latest election polls” writes Callum Keown for marketwatch.com. Three failed attempts to get her EU-supported Brexit deal approved by MPs led to May’s resignation in June this year – three years on from the referendum.What happens next and the implications are explained here: How did we get to another election in less than three years?. The Prime Minister hopes a new set of MPs will break the political impasse and approve a Brexit deal by the…

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Pound continues to be mired down by election uncertainty

“A break below those levels will see sellers regain near-term control but there really isn’t much of a proper trend developing as election uncertainty continues to reign over the pound ahead of the 12 December polling” reports forexlive.com. The pound just can’t catch a break for the time being as choppy trading continues to be the name of the game ahead of next week’s election.And that is leaving pound traders in a bit of a pickle to try and gauge short-term direction.Opinion polls continue to send mixed signals with little…

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Pound slips as polls tighten, optimism holds on trade front

“However, official clarity on the future of the Sino-U.S. trade talks remains a key focus” writes Midwest Communications Inc for 95kqds.com. “No-one is going to be taking major positions until we get more clarity on the trade front.”. The trade sensitive Australian and New Zealand dollars each rose more than 0.1%, with the Aussie buying $0.6768 and the kiwi $0.6439.SINGAPORE (Reuters) – The British pound began the week on the back foot as polls showed a tightening U.K. election race, while an unexpected rebound in Chinese manufacturing supported risk appetite. Source:…

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Syria survived a civil war. Can it weather the latest financial crisis?

“A devastating war, relentless sanctions, a gutted economy under siege: All these have ground the Syrian pound down to a tenth of its value since the outbreak of the civil war in 2011” writes Staff Writer for latimes.com. Assad and his Russian allies have declared the war to be essentially over, with the government as the victor.He added the government had “no initiatives and no vision” to present to Syrian citizens who had been patient during the war.The pound had traded at 47 to the dollar before the war. Source: latimes.com

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Cable slips further as pound loses more steam on the day

“The pound is finding it tough to build on overnight gains as the currency slips further on the day with cable now easing towards a test of the 200-hour MA (blue line) @ 1.2904” reports forexlive.com. If the poll had indicated a hung parliament instead, it would have fit well into the narrative of other opinion polls and perhaps we’ll see more of a trend in the pound.It has been a choppy week of trading for the pound and the YouGov MRP poll release yesterday certainly isn’t helping with the…

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Cable pares earlier losses as pound crawls back higher

“In any case, the good news for pound traders is that perhaps they may get some help with the election indecision later today” reports forexlive.com. On the flip side, a Conservatives majority will likely see the pound stay underpinned but I reckon 1.3000 is still a tall order for cable in the short-term.If the forecast is for yet another hung parliament, expect the pound to stay pressured going into polling day.Price did lean on the near-term trendline support near 1.2835 earlier but in general it is hard to try and…

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Rain, snow forecast to pound much of U.S. as millions travel for Thanksgiving

“A series of storms are forecast to pound much of the United States this week, delivering an extended bout of rain, ice and snow just as millions of drivers are expected to hit the roads for Thanksgiving” writes Tim Stelloh Is for nbcnews.com. The wet, cold weather will persist through the end of the week, the agency said, with rain and snow forecast from California and Oregon to the Upper Midwest and East Coast.Snow and sleet were forecast from the southwest to the Great Lakes beginning Monday, while showers are…

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UK’s Johnson raises prospect of multi-billion pound payroll tax cut

“Earlier this year, Johnson said he wanted to bring the National Insurance threshold in line with income tax” writes Midwest Communications Inc for 95kqds.com. Finance minister Sajid Javid – who has announced big public spending increases – has said income tax cuts are unlikely.Previous increases in the starting threshold for income tax were spread out over several years.LONDON (Reuters) – British Prime Minister Boris Johnson said on Wednesday he planned a multi-billion-pound tax cut if he wins an election on Dec. 12, by raising the amount of earnings exempt from…

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