|Day's Range||0.879 - 0.884|
|52 Week Range||0.8497 - 0.9108|
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.
It was already a terrible trading week for the British Pound thanks to the political risk circus in Westminster and Brexit related uncertainty.
The British pound remains under pressure as talks between the U.K.’s Conservative and Labour parties collapse without an agreement on how to pursue Brexit. Meanwhile, the Japanese yen finds support as trade-war concerns put renewed pressure on global equities.
The pound [s:GBPUSD] dropped Friday as chances dwindled that the U.K.'s two largest political parties can hash out a Brexit agreement. Six weeks of talks between senior lawmakers from the ruling Conservative Party and main opposition Labour party have ended with no deal, increasing the odds for a hard break with the European Union. Prime Minister Theresa May had pinned her hopes of her leadership surviving the summer on a final vote on her unpopular Brexit deal. Hard-liner Brexiteer Boris Johnson's admission Friday that he would "of course" stand for the Conservative leadership fueled the market reaction. Labour leader Jeremy Corbyn told reporters Friday morning that talks had gone as far as they can go and his party will oppose May's Brexit proposal. Sterling traded down about 0.2% against its U.S. counterpart at $1.2764 compared to $1.2796 in late New York trading Thursday. The pair had touched a low of $1.2755 Friday. Euro-pound rose 0.2% to 0.8752 pound, earlier at 0.8755.
The Dollar Index (DXY) found comfort near a yearly high above 97.70 today, after a raft of strong US earnings in the previous session boosted confidence over the health of the US economy.
Investing.com - The economic calendar in the U.S. is busy this week, with updates due on the housing market, retail sales, industrial production and trade which will give investors fresh insights into the health of the broader economy.
Investing.com -- The euro was slightly higher against the dollar and pound in early trade in Europe on Friday, supported by signs of an economic rebound in China and reports of buying related to a big cross-border acquisition, while sterling continues to slip amid the prospect of more months of Brexit-related uncertainty.
Dovish Draghi strikes again! The Euro fell by some 0.5 percent against the US dollar before recovering some of its losses, after the European Central Bank stood pat on monetary policy on Wednesday.
Investing.com -- The euro edged higher against the dollar and was little changed against sterling in early trade in Europe on Wednesday, with two big diary events looming large over the market.
Investing.com -- The British pound is back at its highest levels in a week in early trading in Europe on Wednesday after signs of a possible breakthrough on Brexit
Even the Brexit fiasco unfolding in the U.K. has failed to take the heat off the neighboring shared currency.
The British Parliament rejected Prime Minister Theresa May's Brexit deal once again on Friday, leaving the U.K. to come up with an alternative plan by April 12. The withdrawal agreement was rejected by a margin of 58 votes. The rejection increases the chance that the U.K. will have to take part in the European elections scheduled for late May, the prime minister said in subsequent comments. Previous versions of May's deal--which she had agreed with the EU late last year--had been rejected in January and early March. On Wednesday, U.K. lawmakers voted on a range of alternative Brexit plans, none of which managed to get a majority, although the proposal of a customs union agreement came closest. The British pound in response extended its losses, dropping 0.4% to $1.3006. Similarly, the euro was up 0.4% against sterling, buying £0.8632. Britain's FTSE 100 Index was up 0.6% after the vote, while the yield on the 10-year U.K. government bonds dropped to 0.995%
The U.S. dollar on Thursday strengthens across the board against its G-10 and emerging market rivals, with bulls shaking off a cut in the final reading of fourth-quarter gross domestic product.
British lawmakers will be able to cast their vote on Prime Minister Theresa May's Brexit deal on Friday, as it was substantially different from the previous deals. May's withdrawal agreement was rejected in January and earlier in March. House of Commons speaker John Bercow then said the deal would have to be changed before Parliament could vote on it again, citing a 17th century statue. In Friday's vote, parliamentarians will vote on the withdrawal agreement but not the political declaration that was previously included. If lawmakers support May's deal, the U.K. will leave the European Union on May 22. If not, Britain has until April 12 to come of with an alternative. The British pound came off of its session-lows in response, but remains down against both the dollar and the euro . Sterling last bought $1.3072, down 0.9%.
The British pound hit its session low of $1.3070 on Thursday after the speaker of the House of Commons, John Bercow, reiterated that Prime Minister Theresa May's Brexit deal would have to be changed before it can be put to a vote again. Bercow was reiterating a previous ruling that cited a statute from the 17th century. Versions of May's withdrawal deal have been rejected by U.K. lawmakers twice before already. Parliament also rejected all alternative deals on Wednesday, after May promised to step down as prime minister if her Conservative Party supported her deal, which will be discussed in Parliament on Friday. Bercow's statement complicates the chances of the deal getting voted on. The DUP (Democratic Unionist Party), which is May's coalition partner, remains skeptical of her deal. The European Union has given the U.K. a short extension of its March 29 Brexit deadline. If May gets her deal through Parliament, the U.K. will leave the EU on May 22. If not, Britain has until April 12 to come up with an alternative. The British pound last bought $1.3074, compared with $1.3191 late Wednesday. One euro , meanwhile, fetched £0.8583, up 0.7%, also near session-highs.
British Prime Minister Theresa May told backbenchers of her Conservative Party that she would step down if her Brexit deal is endorsed by Parliament, according to local reports. May's withdrawal agreement, which she agreed with the European Union late last year, has been rejected twice by Parliament. The premier wants to put it to a third vote this week, but has run up against the Speaker of the House of Commons John Bercow, who said lawmakers couldn't vote on the exact same deal twice. If May's deal would get passed, she would step down ahead of the next phase of negotiations. U.K. parliamentarians are voting on a range of Brexit alternatives in so-called indicative votes later on Wednesday, which May's government has been opposing. The British pound was last up 0.3% at $1.3237, holding steady amid the reports of May's possible departure.
U.K. Prime Minister Theresa May will put a version of her Brexit withdrawal agreement to a vote in Parliament on Tuesday, according to local reports. This will be the third vote on May's deal, which has previously been rejected in January and earlier this month. The U.K. was scheduled to leave the European Union by March 29, but last week secured an extension that would postpone the deadline to June 30 if May's deal was supported by lawmakers. If the deal is rejected, the U.K. will have until April 12 to decide on next steps or leave the EU without a withdrawal agreement. The British pound pared earlier losses following the reports and was last up 0.2% at $1.3242.
The European Union proposed a conditional extension of the Brexit deadline until May 22 -- when elections for the European Parliament begin -- in draft conclusions of a European Council meeting Thursday, according to reports. However, the extension would be tied to the U.K. Parliament supporting Prime Minister Theresa May's withdrawal deal. The deal, or an amended version thereof, is expected to be put to vote next week. The EC said an extension beyond May 22 was impossible due to the EU elections, which the U.K. isn't intending to take part in. May had requested an extension until June 30. At present, the U.K. is set to leave the EU on March 29 without a trade deal in place. The British pound , dropped to a session-low of $1.2981 shortly before the extension proposal became known. It was its lowest level in about two-weeks. Sterling last bought $1.3046, down 1.1% from Wednesday. The euro , meanwhile, bought £0.8700, up 0.6%.
The U.S. dollar adds to the previous week’s losses on Monday, trading weaker against many of its rivals as traders look ahead to a Federal Reserve policy meeting later this week.
The British pound fell to session lows on Monday after the speaker of the House of Commons, John Bercow, ruled that Prime Minister Theresa May's government couldn't ask for yet another vote on May's Brexit deal on Tuesday unless the deal had changed. The reasoning is that the government can't bring the same motion twice, according to local reports. May's deal has been rejected twice already, once in January and amended version last week. The U.K. is scheduled to leave the European Union on March 29. So far, no trade deal with Brussels is in place but the U.K. Parliament has also rejected a hard, no-deal Brexit. The U.K. is next expected to request an extension of the March 29 deadline, in line with a parliamentary vote from last week. Sterling dropped in response to yet another blow to May's government. Last week, after her deal was rejected again, chatter of fresh elections began among political and market experts. The British pound last bought $1.3191, down 0.8%, according to FactSet. One euro fetched £0.8591, up 0.9%.