Monthly Archives: September 2016

Are we Heading for a Hard Brexit?

UK Votes ‘Leave’, UK Pound Tumbles in Value
GB POUNDAnother tough week for the Pound, it started the week trading at 1.1704 against the Euro, and 1.304 against the US Dollar, the downward trend continued as the pound finished the week trading at 1.1549 against the Euro, and 1.2954 against the US Dollar.Jens Weidmann, the head of Germany’s central bank warned that London’s position as a leading financial centre would be under threat if the UK opted to leave the single market, because banks would not be allowed to operate across the remaining Read more

Another Tough Week for Sterling

GB POUNDAnother tough week for sterling. The pound started the week trading at 1.1794 against the euro and 1.3271 against the US dollar, it finished the week trading at 1.1684 against the euro and 1.3039 against the US dollar, this was largely due to a raft of negative economic data.The latest Consumer Price Index date showed that CPI remained the same in August as July at 0.6%, slightly below the forecasted figure of 0.7%.The Bank of England announced it is extending its quantitative easing programme Read more

Retail Sales Declined in August, Down 0.9%

GB POUNDA tough week for sterling. The pound started the week trading at 1.1959 against the Euro and 1.3370 against the US dollar, by the end of the week the pound was trading at 1.1826 against the Euro and 1.3251 against the US dollar. The British Retail Consortium reported that retail sales declined in August, compared with the same time last year sales were down 0.9%. Good weather and the Olympics are thought to be behind the disappointing figure which is backed up by the fact that sales of barbeques Read more

Positive News for the Pound V Euro and US Dollar Rate

GB POUNDStarted the week at 1.1712 against the Euro and 1.3092 against the US Dollar.Data showed that UK banks approved the lowest amount of mortgages since July 2015. Mortgage approvals in June were 64,152 compared with 60,912 in July.House prices increased in August according to a report from Nationwide. The building society said that house prices increased by 0.1% in August to 0.6%.UK manufacturing produced a positive shock as manufacturing PMI jumped from 48.3 in July to 53.3 in August, the highest Read more