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Pound Down on Economic Data & UK Politics, Attempts to Rebound

The Great Britain pound crashed today as the combination of negative macroeconomic indicators and continuing political turmoil in the United Kingdom was dragging the currency down. Currently, though, the sterling has managed to bounce, trimming its losses versus most rivals and even gaining on the very weak euro (though currently it is trading about flat versus the shared eurozone currency).

Great Britain Pound Falls with Retail Sales

The Great Britain pound was weak on Tuesday amid risk aversion on the Forex market. Domestic macroeconomic data was not doing the sterling any favors either.

Sterling Weakest on Forex After String of Bad PMIs

The Great Britain pound was the weakest major currency on the Forex market today. The main reason for that was the string of bad PMI reports, which led to concerns that Britain’s economic growth slowed in the second quarter of 2019.

Pound Rallies as Theresa May Meets Jeremy Corbyn

The Great Britain pound gained on most other major currencies today as British Prime Minister Theresa May was meeting with opposition Labour leader Jeremy Corbyn.

Sterling Rallies as Theresa May Changes Stance

The Great Britain pound gained against its major rivals today as British Prime Minister Theresa May changed her stance regarding the no-deal Brexit and delay for Britain’s separation from the European Union.

Pound Soft After Services PMI Falls Unexpectedly

The Great Britain pound was soft today after Britain’s services sector demonstrated surprisingly poor performance, expanding at the slowest rate in two-and-a-half years. Positive retail sales data was not able to offset the impact of the negative report.

Pound Drops on Brexit Fears & Negative Data, Bounces Later

The Great Britain pound behaved similarly to the Australian dollar and several other currencies, falling intraday but rising later. Negative macroeconomic data was likely responsible for the initial drop, though the Brexit fears also likely played a role.

Pound Strengthens as Shop Prices Show End of Deflation

The Great Britain pound was relatively strong today as data showed that shop prices showed inflation for the first time in more than five years. The Brexit fears were still weighing on the currency.

Pound Loses Gains Caused by Surprisingly Good Construction PMI

The Great Britain pound was lifted intraday by a surprisingly good report about the construction sector. By now, though, the currency has trimmed its gains, losing them outright against some rivals, like the US dollar and the Japanese yen.

Sterling Shows Resilience in Face of Poor Data from Britain

The Great Britain pound rallied today against some of its major rivals, though not against the euro, even as macroeconomic data released in the United Kingdom over the trading session was rather poor.

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