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Sterling Rallies As Johnson Floors Rivals in 1st Round, Later Falls

The Sterling pound today rallied against the US dollar in the mid-London session as Boris Johnson floored his opponents in the first round of voting within the Conservative Party. The GBP/USD currency pair had fallen earlier today as markets reacted to yesterday’s defeat of a motion to eliminate the possibility of a hard Brexit.

Pound Rallies on Domestic Data, Brexit Optimism

The Great Britain pound preserved at the beginning of the Thursday’s trading session gains it has achieved on Wednesday. The currency’s good performance was a result of largely positive domestic macroeconomic data and the hopeful outlook for the Brexit.

Pound Under Pressure from Poor Housing Data, Brexit Worries

The Great Britain pound declined today, dragged down by poor performance of the housing market and Brexit worries. The currency fell versus all of its most-traded rivals, including the Japanese yen, which itself was soft.

Pound Trades Strongest After Theresa May Wins Confidence Vote

The Great Britain pound was the strongest major currency on the Forex market during Thursday’s trading after UK Prime Minister Theresa May won the confidence vote on Wednesday.

Britain’s Pound Rallies After Theresa May Survives Confidence Vote

The Great Britain pound gained today after Britain’s Prime Minister Theresa May survived the no-confidence vote of her party yesterday. While the currency has lost its gains versus the US dollar by now, it kept them against other major rivals.

Pound Mixed amid Clashing Fundamentals

The Great Britain pound was ending the Thursday’s trading session mixed. The sterling rose against some rivals, propelled higher by very good retail sales data, but fell versus others, dragged down by the market’s risk-negative sentiment that followed the dovish policy statement from the European Central Bank.

British Pound Gives up Early Gains as Political Troubles Linger

The British pound gave up some of its early gains against the US dollar and the euro on Thursday as investors remained concerned about the political stability of the British cabinet. Economic data in the United Kingdom added to the pressure on the British currency as home prices rose less than what analysts had previously expected.

Great Britain Pound Weak Ahead of BoE Meeting

The Great Britain pound traded lower ahead of Bank of England policy meeting that will occur later today. The reason for the currency’s drop was the streak of rather weak macroeconomic indicators.

Detrimental Fundamentals Don’t Deter Pound from Rising

Lately, macroeconomic fundamentals were detrimental to the Great Britain pound, but that did not prevent the currency from ending Friday with gains. In fact, the sterling reached the highest level since September 2008 against the Japanese yen.

Pound Retains Strong Upward Momentum

The Great Britain pound extended its move upward today, rising to the highest level since November against the US dollar and gaining versus the Japanese yen. Today’s economic data was supportive for the currency while yesterday’s news was not so much.

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