|Day's Range||0.877 - 0.879|
|52 Week Range||0.8636 - 0.9086|
How, when and if Brexit will get done is still uncertain. Yet, the British pound rallied on Thursday. It appears, in the absence of anything better, no news is good news.
Investing.com - The U.S. dollar pushed higher against a basket of its key rivals on Thursday, building on its recent strong gains, while the pound slipped amid softer risk sentiment.
British Prime Minister Theresa May urged members of Parliament to work together on a tenable Brexit plan in a brief, televised statement hours after her government narrowly survived a no-confidence vote and a day after her proposed agreement with the European Union on the terms of the U.K.'s withdrawal was overwhelmingly rejected by lawmakers. May urged members of parliament to put aside self-interest and "work constructively together." May on Wednesday night met with leaders of the Scottish National Party, the Liberal Democrats and Plaid Cymru but not Labor leader Jeremy Corbyn, the BBC reported. May said she was disappointed Corbyn hadn't participated, "but our door remains open." Corbyn has said May must rule out a "no-deal" Brexit, in which the U.K. leaves the EU without an agreement governing its relationship with the bloc, before "positive discussions" can take place.
The British pound is trading in a tight range on Wednesday after U.K. Prime Minister Theresa May’s Brexit deal was defeated in Parliament Tuesday and as lawmakers are debating a no-confidence motion against the government.
The U.K. government survived a no-confidence vote brought by Labour Party leader Jeremy Corbyn over its handling of Brexit on Wednesday. The decision by lawmakers, who voted 325 in support and 306 against the government, leaves the administration intact with Prime Minister Theresa May at the helm. Following the vote, the U.K. will return to the predefined Brexit timeline, giving the government until Jan. 21 to present an alternative Brexit deal after May's proposal was voted down in Parliament on Tuesday. The British pound in response briefly bounced higher but retraced its gains to stand little changed at $1.2861. The euro was slightly weaker against sterling, last buying £0.8866.
British members of Parliament are beginning to vote in a no-confidence motion against Prime Minister Theresa May's government that was brought by opposition leader Jeremy Corbyn. The vote is not expected to oust the government. The Conservative and pro-Brexit European Research Group, which was instrumental in bringing a leadership challenge against May in December that ultimately failed, said they would back the government. The Norther Irish Democratic Unionist Party is also expected to back the Tories. Should Parliament express it has no confidence in the government after all, and no other government can gain confidence within 14 days, a general election would have to be called. May earlier said when addressing Parliament that having a new general election would be the worst possible option. U.K. stocks and bonds were closed at the time the vote began, and the British pound was little changed at $1.2858.
U.K. Prime Minister Theresa May’s Brexit deal is rejected in Parliament on Tuesday, leaving Britain with further uncertainty about how it will leave the European Union.
The British pound, as expected, experienced a high volatility day on Tuesday. As the result, however, the currency avoided serious pressure, ending Tuesday’s near levels at the opening. During the day on Tuesday, the pressure on the pound increased, sending GBPUSD from 1.2850 to 1.2700.
Yesterday we had a real roller-coaster on the GBP. Well, no surprise here as we had a Brexit vote and everybody expected the increase in volatility.
Investing.com - The pound firmed up on Wednesday following a plunge overnight when the UK parliament overwhelmingly voted down Prime Minister Theresa May's Brexit deal, adding to uncertainties surrounding the UK’s withdrawal from the European Union.
The British pound pares its sharp losses against the U.S. dollar in late Tuesday trading, after the British Parliament rejects Prime Minister Theresa May’s Brexit deal.
The U.K. Parliament voted against Prime Minister Theresa May's Brexit deal on Tuesday, leaving Britain with further uncertainty. 432 members of Parliament voted against it, while 202 voted in favor. May's government now has three days to present an alternative plan in Parliament. That said, the opposition Labor Party leader Jeremy Corbyn will bring a vote of no-confidence in the government, which will be debated in Parliament on Wednesday. If May's government loses the vote, fresh elections would be triggered. The option of a so-called hard Brexit, where the U.K. crashes out of the European Union without a result, is also still on the table now. The British pound , which was sharply lower versus the U.S. dollar ahead of the vote, retraced some of its losses but remained solidly in the red in response to the vote. Sterling last bought $1.2760, down 0.8%, according to FactSet. The euro-sterling pair was meanwhile slightly lower, with one euro buying £0.8909, down 0.1%.
The euro dropped to session lows against the U.S. dollar on Tuesday, after European Central Bank President Mario Draghi said recent economic developments have been weaker than expected. In a speech addressing the European Parliament, Draghi also said that uncertainties and global factors remain of great importance and that further significant monetary stimulus was needed. The euro in response fell to its weakest level of the day, briefly diving below the psychologically-important $1.14 level and trading at its lowest level in more than a week. The shared currency last bought $1.1402, down from $1.1472 late Monday in New York.
It’s crunchtime for Brexit this week as the drama over negotiations and options for how the U.K. could leave the European Union are set to come to a head. Here’s why investors outside of Europe should care.
Today, the British Parliament is set to vote on Theresa May’s Brexit deal. Most economists are forecasting that the majority of MPs will vote against it, which will certainly have a negative impact on the pound. On the other hand, approval for the deal would certainly come as a surprise and most likely support the sterling.
Investing.com - The U.S. dollar dipped against a currency basket on Tuesday amid expectations the Federal Reserve will hold off on raising rates this year due to weakness in global growth, while the pound crept higher before Britain's parliamentary vote on its Brexit deal.
Investing.com - The British pound was in focus and traded slightly higher against the U.S. dollar on Tuesday in Asia ahead of a vote on U.K. Prime Minister Theresa May’s Brexit deal.
The British pound is in focus for currency traders on Monday, ahead of a crucial Brexit vote in the U.K. Parliament this week, as U.K. Prime Minister Theresa May tries to drum up support for her deal and the European Union provides some reassurances.
The British pound rallied to a two-month high against the U.S. dollar on Monday following a report from ITV that Conservative members of the European Research Group will vote in favor of Prime Minister Theresa May's Brexit deal on Tuesday. The ERG had previously been critical of May and were instrumental in forcing an unsuccessful leadership challenge against her in December. Parliament will vote on May's deal on Tuesday, following a day of deliberation and votes on amendments. The vote was initially meant to take place in December but was postponed as May was expected to lose. Passing her deal would ensure a so-called soft Brexit from the European Union in March. Sterling shot up to a high of $1.2931 on the back of the report, its highest since mid-November, but has since drawn back slightly. One pound last bought $1.2885, up from $1.2839 late Friday. The euro was down 0.3% against the pound, buying £0.8900.
The U.S. dollar flips into positive territory Friday against most of its rivals in the aftermath of December consumer-price inflation figures
British pound traders are gearing up for a potentially volatile week as U.K. Prime Minister Theresa May is finally bringing her Brexit deal to a vote in Parliament on Tuesday, Jan. 15.
The British pound spiked higher than trimmed gains Friday after London's Evening Standard newspaper reported that Prime Minister Theresa May's cabinet ministers see the U.K.'s exit from the European Union as increasingly likely to be delayed beyond the planned Brexit date of March 29. The British pound was up 0.4% at $1.2796 after trading above $1.2850 following the report. The euro was off 0.1% to fetch 90.07 pence after dipping below 90 pence.
The British pound gained in Wednesday trading after the U.K. government was defeated on a vote concerning the Brexit timetable. The vote in favor of the so-called Grieve amendment prescribes that Prime Minister Theresa May's government has three days to come up with a plan B after losing a meaningful vote. Otherwise, Parliament would regain control of handling Brexit. The Grieve amendment was first floated in December, leading market participants to believe that a hard Brexit was even less likely under the control of Parliament. May scheduled a vote on her Brexit deal for Jan. 15, postponing it from December in what was seen as a bid to stave off defeat. U.K. lawmakers will debate the European Union withdrawal agreement until next week's vote. The British pound strengthened 0.4% versus the U.S. dollar, last buying $1.2782. The euro-sterling pair was modestly higher with one euro buying £0.9021, up 0.2%.
British lawmakers will vote on Prime Minister Theresa May's Brexit plan on Jan. 15, the BBC reported Monday, citing government sources. The vote had been set for December but was called off at the last minute to avoid a defeat. The deal sets out the terms of the U.K.'s exit from the European Union and has been agreed to with EU leaders but requires parliamentary approval. The U.K. is due to leave the EU on March 29 regardless of whether an agreement is approved by members of parliament. The British pound was mixed, edging 0.1% higher versus the U.S. dollar to $1.2738 while the euro rose 0.3% to 89.80 pence. London's FTSE 100 stock index was down 0.6% at 6,796.50 amid broad weakness in European stocks.
With more than a quarter old support-line pulling the GBPUSD up, 50-day SMA level of 1.2775 is likely to play its role of resistance soon, if not then 1.2900 mark, comprising 100-day SMA, followed by 1.3000 round-figure, may gain buyers’ attention. Should prices rise beyond 1.3000 on a daily closing basis, eight-month long downward slanting TL, at 1.3055, and the 200-day SMA level of 1.3165 seem crucial to watch. Alternatively, the 1.2600, the 1.2570 and the 1.2500 could try limiting the pair’s declines before highlighting the 1.2425 TL support for one more time. ...