|Day's Range||1.097 - 1.102|
|52 Week Range||1.0639 - 1.1768|
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.
Investing.com - Boris Johnson, former U.K. foreign minister and one of the leading supporters of Brexit during the 2016 vote, is the top choice among members of Britain's ruling Conservative Party to replace Theresa May as prime minister, according to a recent poll.
Investing.com -- The dollar was higher across the board in early trade in Europe Wednesday, as the reportedly imminent exit of British Prime Minister Theresa May over the Brexit shambles depressed the pound and made for an awkward backdrop to European parliament elections that start today.
Investing.com -- The dollar was holding on to gains early Thursday in Europe after the Federal Reserve poured cold water on the idea of cutting interest rates any time soon.
Investing.com -- The euro is still struggling for direction early Tuesday in Europe amid reports that the U.S. administration is preparing to impose fresh tariffs on European Union in response to what it perceives as unfair subsidies to aerospace giant Airbus.
Investing.com -- Foreign exchange markets have started the week quietly in Europe, with both the major European currencies in holding patterns ahead of a crucial week for Brexit, while the dollar is still drifting as it waits for hard news of trade deal between the U.S. and China.
Investing.com -- The dollar was close to its highest level in nearly three weeks in early trading in Europe Tuesday, as the rising likelihood of a disruptive and disorderly Brexit hit confidence in both the euro and sterling.
Investing.com -- The dollar is higher against most of its peers early Wednesday in Europe as a steady drumbeat of gloomy news about the economic outlook keeps a firm cap on risk appetite.
Investing.com -- Sterling is center stage again Tuesday morning in Europe after U.K. lawmakers voted on Monday night to take control of the Brexit process from the government of Prime Minister Theresa May.
Investing.com -- The dollar is steadying early Thursday after falling sharply as the Federal Reserve all but swore off raising interest rates again this year – a swing that could signal the end of the whole policy tightening cycle.
Investing.com -- The British pound is opening Tuesday on a firmer footing after losing nearly 1% against the dollar and euro on the latest outbreak of Brexit-related volatility.
Investing.com -- The British pound is drifting lower against the dollar and euro early Friday in Europe, consolidating this week’s gains as the market takes stock of a tumultuous few days in the Brexit process.
The repercussions of the UK severing ties with the EU will affect trade, immigration, and money in your wallet, so here's why you should pay attention to Brexit.
Investing.com - The British pound was on the front foot in early European hours on Tuesday, after both of the major parties moved closer to ensuring that a disruptive "no-deal" Brexit is avoided.