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Brexit limbo pauses British Pound
The British Pound stabilized on Thursday as Brexit enters a fresh holding pattern.
Sterling held at $1.2911 after Britain’s parliament backed a withdrawal deal while European Union members delayed deciding whether to grant a three-month extension to the October 31st leaving date.
The Pound has soared 6% in its 2-week, high-volatile trade sessions since British PM Boris Johnson flagged and later finalized a deal with the EU on the terms of Britain’s exit from the bloc.
“Sterling remains at the center of the focus of forex markets,” said Michael McCarthy, chief market strategist at brokerage CMC Markets in Sydney.
“It looks like traders are weighing up the current parliamentary shenanigans versus the inevitability of a Brexit,” he said.
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more ...
The dollar firmed on Monday as the market mood was weighed by arising global tensions with China and the prospect of negative interest rates. The dollar firmed at 107.25 against the range-bound yen as Japan fell into recession for the first ...
The British Pound Sterling recovered from a two-week low after the Bank of England (BOE) announced that it had decided to maintain the size of its bond-buying program. The UK central bank had previously slashed its benchmark interest rates ...
The British pound fell against the euro and dollar on Monday after Prime Minister Boris Johnson was hospitalized due to relentless symptoms of COVID-19. The yen fell against the dollar after news that Japanese Prime Minister Shinzo Abe may ...
KYC Policy