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GBP Strengthens as Polls Show Johnson Nears Majority

The Pound was driven higher this week as polls indicate that Prime minister Johnson will seal a majority in next weeks general election. The Pound has seen good levels of support, with investors now believing that the victory is now Johnson’s to lose. Pound levels have hit year highs against many of the majors including the Euro. What do the…

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Pound Stagnant as Parliament Are Faced with Parliamentary Election

Sterling traded within a tight band this week as the path to Brexit became opaquer this week. Following the collapse of last weekend’s meaningful vote, MP’s voted for Johnson’s deal but rejected the proposed timetable. Johnson, in turn, stated he was pausing the deal in order to call for a general election. The UK now finds itself, as have often…

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Brexit – Meaningful Vote Becomes Meaningless

As Members of Parliament congregated on Saturday for the first time in over 30 years the UK and financial markets eagerly anticipated the vote of Boris Johnsons ‘great new deal’. Thursday, Friday and Saturday morning had been spent the conservative party gaining support and flogging the deal to rebel opposition members and those sat firmly on the fence, many stating…

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Pound Surges More Than 2% as Brexit Pathway Is Found

An unscheduled meeting between Prime minister Boris Johnson and Leo Varadkar prompted GBP to surge this week as it was stated a ‘pathway to Brexit’ had potentially been found. The meeting which took place in a country house on the Wirral saw GBP rise as markets brought into the possibility of a Brexit breakthrough. Whilst exactly what the common ground…

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Pound Falls as Parliament Prorogation Is Deemed Unlawful

The Pound fell this week as the UK supreme court ruled that Boris Johnson's parliament prorogation was ruled as unlawful. The decision saw GBP fall against a basketful of currencies including the Euro and USD. The Supreme court consists of 11 of the UK’s top legal minds who voted unanimously. The court took the view that Johnson’s prorogation served to…

British Pound In The Screen. Currency Index Up.

Pound Rallies as No Deal Is All but Taken off the Table

The Pound enjoyed solid gains this week as parliament tied up Boris Johnson’s plans and legally took the pat of no-deal off the table. The recently elected prime minister facing and losing 4 votes in parliament this week. The Pound gaining support as the likelihood of the UK leaving the European Union without a deal. Whilst the prime minister remains…

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Pound Exchange Rates Driven Lower as UK Economy Shrinks

The UK experienced economic contraction between the months of April and June, the last shrinking taking place in 2012, highlighting concerns that the UK could be sliding into recession. The UK’s economic output fell 0.2% in the last quarter raising the fear that the UK could finally be feeling the uncertainty of Brexit. UK economy is faltering, but why? The…