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British Pound Hits New Yearly Lows on Brexit News and Political Uncertainty

The British pound today dropped to new yearly lows in the American session after European Union officials insisted that they would not reopen Brexit negotiations. The pound made an about-turn after rallying higher in the early European session on positive Brexit news from Ireland regarding the Irish backstop amid positive UK jobs data.

British Pound Crashes Against US Dollar on Delay of Crucial Brexit Vote

The Sterling pound today crashed against the US dollar following media reports that the crucial Brexit vote scheduled for tomorrow had been postponed by the Prime Minister. The pound had reacted in a stable fashion earlier in the day following the release of the latest monthly UK GDP estimate, which was in line with expectations.

British Pound Struggles as Markets Await May-Juncker Meeting

The British pound today struggled to find direction as investors adopted a wait and see approach towards the cable even as Theresa May is set to meet Jean-Claude Juncker later today. The pound was relatively stable as it appears that the British Prime Minister has managed to fend off a leadership challenge within her own party from Brexiteer MPs.

Pound Crashes as Two UK Ministers Resign Following Brexit Deal

The British pound today crashed to new 2-week lows after two UK Ministers and a junior minister led by former Brexit Secretary Dominic Raab resigned following yesterday’s draft Brexit deal. The Sterling was further weighed down by the disappointing retail sales data released earlier today, which pointed a grim picture of the UK economy.

Pound Falls on UK Political Uncertainty Amid Weak Inflation Data

The Sterling pound today traded lower against the US dollar as markets awaited the crucial meeting between the British PM Theresa May and her cabinet to approve the draft Brexit deal. The pound declined further following the release of weak UK consumer price index report in the early London session, which further soured investor sentiment towards the Sterling.

Pound Rallies on Brexit Hopes, Declines on Mixed UK Jobs Data

The British pound today rallied higher and recovered from a 3-day losing streak as investors hoped for a breakthrough in Brexit negotiations. However, the lack of any tangible progress in the Brexit proceedings and the mixed UK jobs report released today stalled the cable’s rally.

British Pound Drops on Brexit Uncertainty Amid Latest UK GDP Data

The British pound today declined against the US dollar as investors remained cautious towards the cable given the looming uncertainty over Brexit negotiations. The GBP/USD currency pair’s performance was also affected by the strong greenback as the US Federal Reserve reiterated its resolve to hike rates in December.

Pound Trades Sideways on Failed Brexit Talks and Weak UK Retail Sales

The British pound today traded sideways against the US dollar following the failed Brexit talks during yesterday’s meetings between EU leaders and British PM Theresa May. The pound was further weighed down by the release of the latest UK retail sales data in the early European session, which missed expectations by a significant margin.

Pound Falls on Weak UK Inflation Data Amid Brexit Summit

The British pound today fell significantly against the dollar following the release of the latest UK inflation data, which missed expectations. The pound was also weighed down by the ongoing European Union Brexit summit, which is not expected to result in a deal.

Sterling Pound Rallies on Positive Brexit News and UK Jobs Data

The Sterling pound today rallied higher after the release of positive UK jobs data especially the unexpected increase in wages in the three months to August. The GBP/USD currency pair’s rally was initially triggered by comments from Germany’s Europe minister who stated that the likelihood of a Brexit deal was high.

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