Michel Barnier — News Archive

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Pound Falls to New 5-Week Lows as Brexit Headlines Trigger Despair

The Sterling pound today fell to new 5-week lows as talks between Britain and the EU appeared to have hit a wall given today’s events. The GBP/USD currency pair today fell after reports that a phone call between Boris Johnson and the German Chancellor had made a Brexit deal almost impossible.

Pound Falls on Weak UK Construction PMI, Rallies on New Brexit Proposals

The British pound today recovered from its daily lows and rallied higher in the late London session as details emerged of a new Brexit proposal by the British government. The European Union’s positive response to the proposals boosted investor confidence in the pound, causing it to rally higher despite the weak UK PMI released earlier today.

Pound Falls on Weak UK Inflation Data Amid Brexit Impasse

The British pound today fell against the US dollar following the release of the disappointing UK inflation data for August early in the UK session. The GBP/USD currency fell from 8-week highs reached yesterday as investors sold the pound ahead of the much-anticipated FOMC announcement.

British Pound Heads Lower on Barnier and Carney Brexit Warnings

The British pound today dropped to new daily lows following warning comments made by the European Union’s chief Brexit negotiator, Michel Barnier regarding the latest Brexit deal. The pound’s decline was further weighed down by a warning from the BoE Governor Mark Carney that most UK businesses are ill-prepared for a no-deal Brexit scenario.

Pound Opens Sharply Lower on Negative Brexit News

The Great Britain pound opened sharply lower today on negative Brexit news. Currently, the sterling is trying to crawl back to the Friday’s close.

British Pound Rallies on Brexit Progress Despite Weak UK Macro Data

The British pound today rallied higher against the US dollar from the early European session as it emerged that the European Union and the UK were about to reach a Brexit deal. The GBP/USD currency pair was further boosted by the fact that the US warned China against devaluing its currency, which did not favor the greenback.

Euro Fails to Hold On to Gains on Resurgent US Dollar Demand

The euro today rallied to new highs in the early European session even as German bond yields hit new tops and the US dollar retreated. However, the EUR/USD currency pair proceeded to give up all its gains as the greenback rebounded amid rising US bond yields and Irish border concerns.

Pound Rallies on Strong UK GDP Data and Positive Brexit Headlines

The British pound today rallied higher against the US dollar following the release of the UK GDP monthly estimate for July, which came in above expectations. The GBP/USD currency pair’s rally was slowed down by the weak manufacturing output print, which indicated that manufacturing activity contracted in July.

Pound Falls on Weak UK Manufacturing Activity Amid Brexit Fears

The British pound today fell to new lows against the US dollar based on the uncertainty surrounding the Brexit negotiations as both the EU and the UK stick to their opposing positions. The GBP/USD currency also headed lower following the release of the latest UK manufacturing data, which revealed zero expansion in the sector.

Sterling Rallies Higher on Renewed Brexit Talks and Weak Dollar

The Sterling pound today rallied higher against the US dollar following yesterday’s announcement by the chief Brexit negotiators to speed up the pace of negotiations. The GBP/USD currency pair was also boosted by the selling pressure around the US dollar following the political developments in two Federal investigations involving President Donald Trump‘s associates.

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