FX experts and strategists are certainly ruling nothing out ahead of tomorrow’s crucial parliamentary vote on Britain’s deal to withdraw from Europe.
Just as news broke that the pound had rallied today following confirmation that a long-awaited Brexit deal had been reached, the cable reversed its gains.
The British pound weakened today, pulling back from its highest level against the dollar in almost five months after hopes of a Brexit breakthrough began to shatter.
Washington’s decision to impose visa bans on Chinese officials combined with adding further Chinese companies to a US-trade blacklist, has weighed on the slim hopes that both economies would potentially reach a truce at upcoming negotiations.
According to a report issued by the Institute for Fiscal Studies think-tank, if the UK should leave the EU without a transitional agreement in place, the budget deficit could rise to 4 per cent of gross domestic product.
As the Fed, the USD and the rest of the market are sitting tight in anticipation of today’s Non-Farm Payroll…
The US dollar managed to hold its near highs today after trade war concerns prevailed, encouraging investors to lean towards the greenback.
The British pound fell by 0.5% today as investors prepared for further uncertainty after the UK’s Supreme Court ruled PM Johnson’s decision to suspend parliament as unlawful.
Global shares fell today after weaker-than-expected economic surveys fuelled investor concerns over the escalating US-China trade war and its effects on the world economy.
The bank’s Monetary Policy Committee (MPC) voted unanimously today to keep rates unchanged, warning that “entrenched uncertainty” around Brexit could drag on the UK economy.