|Day's Range||1.128 - 1.131|
|52 Week Range||1.0639 - 1.1768|
The central bank will announce a new package of monetary easing on Thursday amid conflicting fears it may overreach — or be too timid.
LONDON (AP) - Scottish court rules Boris Johnson's suspension of Parliament is unlawful, but does not order it to be reversed.
The U.K. unemployment rate in July fell to 3.8% from 3.9% in June, as the claimant count rose to 28,200 from 19,800. Economists polled by FactSet had forecast an unemployment rate of 3.9%. The number of vacancies from June to August fell to 812,000, down 23,000, while average weekly earnings climbed an above-forecast 4%.
John Bercow, the controversial speaker of the U.K. House of Parliament, announced on Monday he'll step down. Bercow said he'll step down either at the next election or by Oct. 31 at the latest.
British Prime Minister Boris Johnson has told Ireland’s leader that a Brexit deal can be reached so Britain leaves the European Union by Oct. 31.
U.K. GDP grew 0.3% in July, the Office for National Statistics said, saying all components apart from agriculture showed growth. That's faster than the 0.1% expected. Over the last three months, U.K. GDP has been flat. The ONS also reported a 0.1% increase in industrial production for July.
The House of Lords has approved legislation aimed at blocking a no-deal Brexit, according to U.K. media reports. The legislation is now due to go to the Queen for royal assent.
British Prime Minister Boris Johnson's brother Jo has quit as a Tory MP and a minister for state for universities and science. Over Twitter, he said, "in recent weeks I've been torn between family loyalty and the national interest - it's an unresolvable tension & time for others to take on my roles as MP & Minister."
British Prime Minister Boris Johnson has lost his working majority after a Conservative Party lawmaker defected to another party amid the Brexit crisis.
The Boris Johnson administration has lost its majority after Philip Lee, a Conservative lawmaker, defected to the Liberal Democrats. The British pound moved higher on the news, as it improves the odds of Parliament stopping a no-deal Brexit.
The British pound fell through the $1.20 level early on Tuesday on speculation Prime Minister Boris Johnson will call an election on Oct. 14. The pound traded at $1.1971 vs. $1.2067 on Monday.
Former British Prime Minister Tony Blair on Monday continued to attack both the idea of Brexit and the ruling Conservative Party, which may take the U.K. out of the European Union on Oct. 31 without an agreed deal.
The IHS Markit/CIPS U.K. manufacturing PMI fell in August to a seven-year low of 47.4, down from 48 in July. Econommists polled by FactSet expected a 48.3 reading. Any reading under 50 indicates contracting conditions. "The high levels of economic and political uncertainty pervasive across domestic and global markets continued to weigh heavily on the performance of UK manufacturing during August. Output volumes fell as intakes of new work contracted at the fastest pace for over seven years, while business optimism dropped to a series-record low," IHS Markit said.
The British pound dropped sharply as reports indicated that Parliament will be prorogued -- essentially put on leave -- for five weeks. The BBC reported that the move will allow Boris Johnson's new administration to hold a Queen's Speech on Oct. 14. The move means that MPs are unlikely to have time to pass any laws that could stop the prime minister taking the U.K. out of the European Union without a deal on Oct. 31, the BBC reported. The pound traded at $1.2230, down from $1.2291 on Tuesday.
Merkel, Macron strike different tones but agree there’s little scope and time to renegotiate Irish backstop
British retail sales in July grew 3.3% compared to a year ago, according to data released Thursday. Economists polled by FactSet expected a 2.6% rise. The Office for National Statistics said both value and volume rose in July, and department stores saw the first increase this year.
U.K. consumer prices in July rose to 2.1% year-over-year from 2% in June, and above the economist forecast of 1.9% growth. Core CPI also rose more quickly than forecast, rising a tick to 1.9%. The Office for National Statistics cited rising prices in games, toys and hobbies, and accommodation services, as well as clothing and footwear and "other" financial services, which offset declines from transportation services and electricity and gas.
Unemployment in the three months to June rose a tenth to 3.9%, the Office for National Statistics said Tuesday. The number of jobless claimants rose 28,000, while average weekly earnings including bonuses were up 3.7%. Economists were expecting a 3.8% unemployment rate, a 20,000 rise in claimants and 3.7% wage growth, according to a Factset-compiled consensus.
The British pound on Friday came under renewed assault, as data showing a contraction in the U.K. economy in the second quarter reinforced concerns about future growth if the country leaves the EU without an agreement on Oct. 31.
Irish Prime Minister Leo Varadkar said he invited British Prime Minister Boris Johnson to Dublin when the two talked by phone last week and said he's not "fatalistic" that a no-deal Brexit will occur. He did say that such a one-to-one conversation would be done without preconditions, while Johnson said he won't meet European Union leaders without a willingness to end the backstop. Varadkar said the so-called backstop is "closed" but that a political declaration accompanying an agreement could be reached. "There is always room for talks and negotiations," he said.
The British pound on Tuesday came under continued assault, sliding as traders price in an increased possibility of a so-called hard Brexit.
The British pound slid to a fresh two-year low on Monday as concerns about the country leaving the European Union without a deal intensified amid moves by Prime Minister Boris Johnson in his first few days in office.
The British pound on Wednesday traded at the lowest level in more than two years, as concerns about a hasty exit from the European Union continued to pressure the U.K. currency.
Investing.com -- The British pound fell to its lowest in more than two years in early trading in Europe Wednesday as fears over a “Hard Brexit” and a possible general election exacted a higher risk premium for all sterling assets.