|Day's Range||1.166 - 1.167|
|52 Week Range||1.0639 - 1.1768|
The U.K. unemployment rate in the three months to September edged down to 3.8%, while employment fell by 58,000, the Office for National Statistics said. Average weekly earnings slowed to 3.6% from 3.8%. Jobless claims rose 33,000 in October. Economists polled by FactSet expected a 3.9% unemployment rate, a 22,500 rise in claims and 3.8% growth in earnings.
U.K. GDP grew 0.3% in the third quarter, the Office for National Statistics said Monday. The year-over-year growth of 1% was the slowest since the first quarter of 2010. Economists polled by FactSet expected 0.4% quarterly growth. The British pound traded at $1.2799 after the GDP data release.
Two members of the Bank of England's Monetary Policy Committee voted for an interest-rate cut, the central bank said Thursday. The Bank of England, in deciding to keep rates at 0.75% by a 7-to-2 margin, said it will "monitor closely the responses of companies and households to Brexit developments as well as the prospects for a recovery in global growth. If global growth fails to stabilise or if Brexit uncertainties remain entrenched, monetary policy may need to reinforce the expected recovery in UK GDP growth and inflation." The pound fell to $1.2828 immediately after the decision.
The leader of Britain's opposition Labour Party has told fellow lawmakers that he'll back an early election now that the prospect that the country could crash out of the European Union without a deal has been taken off the table. Jeremy Corbyn's remarks Tuesday come only hours before Conservative British Prime Minister Boris Johnson was set to once again ask lawmakers to approve an early election - on Dec. 12 - saying voters must have the chance to break the Brexit deadlock in Parliament.
The European Council president says the bloc has agreed to grant Britain a new Brexit delay to Jan. 31 next year. Donald Tusk said on Twitter "the EU 27 has agreed that it will accept the UK's request for a Brexit flextension."
French President Emmanuel Macron blocked the European Union's attempt to delay Brexit for three months, Bloomberg News reported. The European Commission said work on this would "continue in the coming days," according to the BBC. The British pound traded at $1.2817, down from $1.2851 on Thursday.
Investing.com -- The British pound was stuck at the lower end of its recent ranges in early trading Friday amid fresh confusion over the course of Brexit, after opposition leader Jeremy Corbyn refused to accept Prime Minister Boris Johnson's call for a general election in December.
Prime Minister Boris Johnson may pull the bill to withdraw from the European Union if MPs reject a timetable that will be voted on Tuesday and the EU offers an extension, Sky News reported, citing an unnamed source at 10 Downing Street. The pound traded at $1.2908, down 0.4%.
Investing.com -- The British pound edged down in early trading in Europe on Monday after an anti-climactic weekend in London that saw the moment of truth fo Prime Minister Boris Johnson’s Brexit deal with the EU ‘s pushed back once again.
The British pound spiked as Prime Minister Boris Johnson tweeted about a "great new deal" while Bloomberg quoted Jean-Claude Juncker, the president of the European Commission, as saying a deal has been reached. The Stoxx Europe 600 , the U.K. FTSE 100 and U.S. stock futures all moved higher on the news.
U.K. consumer price growth stayed at 1.7% in September, the Office for National Statistics said Wednesday. Economists polled by FactSet expected a 1.8% rise. While fuel prices, used cars and electricity prices fell, there were increases for furniture, household appliances and hotel stays.
The European Union says it has agreed with the United Kingdom to "intensify" Brexit negotiations in a belated attempt to reach a divorce deal ahead of Oct. 31, when Britain is scheduled to leave the bloc. The EU announcement came after EU Council President Donald Tusk vowed that the 27 nations would make another push for a deal following a constructive meeting between British Prime Minister Boris Johnson and his Irish counterpart, Leo Varadkar. EU negotiator Michel Barnier and Brexit Secretary Stephen Barclay already laid the groundwork for intensified talks earlier on Friday. The pound rallied for a second day on growing hopes for a deal.
The British pound rose above $1.25 on Friday as European Council President Donald Tusk tweeted that Ireland's Leo Varadkar conveyed "promising signals" that a deal was possible. Tusk did say the U.K. still not has come forward with a workable, realistic proposal. "Even the slightest chance must be used. A no deal Brexit will never be the choice of the EU," he tweeted.
Investing.com -- The British pound consolidated gains early Friday after its biggest one-day jump in two years in response to signs of a possible agreement on the Irish border problem that has plagued the Brexit negotiations.
The British pound rallied on Thursday after the leaders of the U.K. and Ireland said there could be a pathway to an orderly exit of Britain from the European Union.
The British pound came under pressure Wednesday as talks between the U.K. and Germany on negotiating a Brexit pact didn’t appear to make progress.
The British pound weakened to the lowest level of Wednesday after the president of the European Council, Donald Tusk, tweeted that U.K. Prime Minister Boris Johnson was trying to win a blame game over Brexit. "What's at stake is not winning some stupid blame game. At stake is the future of Europe and the UK as well as the security and interests of our people. You don't want a deal, you don't want an extension, you don't want to revoke, quo vadis?" he tweeted. The pound traded at $1.2213, versus $1.2290 on Tuesday.
Investing.com -- The British pound headed lower again in early trade on Tuesday after a warning that a Hard Brexit could deliver a 100-billion pound blow to public finances.
Reporters at a Scottish court say the U.K. government has filed papers stating that Prime Minister Boris Johnson will ask the European Union for an extension if the country doesn't reach an agreed deal to leave by Oct. 19. Johnson has previously said he would rather be "dead in a ditch" than ask for an extension, though Parliament passed a law calling for an extension. The pound traded higher, at $1.2345 vs. $1.2329 on Thursday.
U.K. manufacturing purchasing managers index rose to a four-month high in September, according to data released Tuesday. The IHS Markit/CIPS index rose to 48.3 from 47.4, above the FactSet compiled forecast of 47.1. Any reading below 50 indicates contracting conditions. Levels of output, new orders, new export business and employment fell while those for stocks or purchases and input buying volumes rose, which IHS attributed to companies re-starting Brexit preparations.
The British pound fell against the dollar and euro on Friday after dovish comments by Michael Saunders, external member of the Bank of England's Monetary Policy Committee. In published remarks of a speech to the Barnsley & Rotherham Chamber of Commerce & Institute of Chartered Accountants, Saunders said even if the U.K. can avoid a no-deal Brexit, uncertainties surrounding that "seem likely to continue to depress U.K. growth below potential for some time." That will be especially true if global growth continues on a sluggish path, he said. "In such a scenario - not a no-deal Brexit, but persistently high uncertainty - it probably will be appropriate to maintain an expansionary monetary policy stance and perhaps to loosen further," he said. The pound fell 0.4% against the dollar to $1.2281, and 0.2% against the euro to €1.1257.
British Prime Minister Boris Johnson says he strongly disagrees with the Supreme Court ruling that Parliament's suspension was illegal. He says the government will respect the decision but indicated he could try to suspend it again. Johnson said in New York Tuesday that "I strongly disagree with what the justices have found. I don't think that it's right but we will go ahead and of course parliament will come back." He added: "I do think there's a good case for getting on with a queen's speech anyway and we will do that." The queen's speech outlines the government's plan for the coming session of Parliament.
Labour Party leader Jeremy Corbyn has told his party conference that Prime Minister Boris Johnson should resign "and become the shortest serving prime minister there's ever been." He said Tuesday that Johnson's illegal suspension of Parliament shows his "contempt" for democracy and the rule of law. "I invite Boris Johnson, in the historic words, to consider his position," Corbyn told the party faithful.
The U.K. Supreme Court has ruled unanimously that Prime Minister Boris Johnson's decision to prorogue Parliament was illegal and "extreme." The president of the Supreme Court, Brenda Hale, explained from the bench that the decision to prorogue was in excess of what was needed to prepare for a Queen's speech and unreasonably limited Parliament. The pound shot up to $1.2474 from $1.2432 on Monday.
The British pound jumped against rivals on Friday after European Commission President Jean-Claude Juncker said a Brexit deal was possible. Juncker made the comments in an interview with Sky News late Thursday and the remarks reassured some investors who are worried a no-deal Brexit for Britain was a growing possibility. "I had a meeting with Boris Johnson, the prime minster. this was a rather positive meeting, although the British press was reporting it in the other way. We can have a deal," he said. U.K. Prime Minister Johnson held talks with Juncker earlier this week. The pound rose 0.3% against the dollar to $1.2571 and gained 0.3% against the euro to 1.1344.