Tag Archives: pound

Pound Slides as Parliament Fails to End Brexit Impasse Once More

Pound Slides as Parliament Fails to End Brexit Impasse Once MoreThe failure of May’s last-ditch effort to get her deal through Parliament leaves the U.K. with the choice between crashing out of the European Union without a deal in two weeks and seeking a long extension of its departure date. The British parliament will vote Monday on various alternatives to May’s agreement. Implied volatility on two-week pound-dollar options, which cover the current April 12 deadline for the U.K.’s exit, have surged to the highest level since the immediate aftermath of the 2016 Brexit referendum amid increased anxiety about a no-deal outcome.



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Pound stabilises but struggles to rally after Brexit delay deal

Pound stabilises but struggles to rally after Brexit delay dealThe pound edged up Friday but was struggling to claw back its latest losses after the EU gave Britain a Brexit deadline extension, while equity markets mostly rose on a positive lead from Wall Street. Equity dealers were treading warily as they weighed an indication from the Federal Reserve that borrowing costs will not rise this year with concerns about the slowing economy and stuttering China-US trade talks.



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Pound Soars as U.K. Parliament Rejects No-Deal Brexit From EU

Pound Soars as U.K. Parliament Rejects No-Deal Brexit From EUThe result means Parliament will vote Thursday to decide whether to postpone the U.K.’s exit from the EU in just over two weeks. The development came after Parliament a day earlier rejected a revised version of the withdrawal agreement that Prime Minister Theresa May has spent the past two years negotiating with the EU. May is planning to ask the EU for an extension to the March 29 Brexit deadline lasting about two months, according to people familiar with the matter.



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Brexit deal legal advice sends pound tumbling

Brexit deal legal advice sends pound tumblingThe pound tumbled Tuesday after the UK government’s top legal advisor cast doubt on Prime Minister Theresa May’s last-gasp changes to her Brexit deal, hours before a vital vote. Sterling, which had been rising after May secured revisions to the Brexit withdrawal agreement, hit reverse after legal advice from Attorney General Geoffrey Cox. Cox said last-minute new agreements “reduce the risk” of Britain being “indefinitely and involuntarily” held in the so-called Irish border backstop.



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Pound Slides as Optimism on May's Revised Brexit Deal Fizzles

Pound Slides as Optimism on May's Revised Brexit Deal FizzlesThe pound plunged in a swift turnaround from an earlier rally after the U.K. Attorney General said the revised Brexit deal doesn’t remove legal risks on the Irish backstop. Sterling fell more than 1 percent to near $ 1.30 as Geoffrey Cox’s comments damped the prospect of Prime Minister Theresa May garnering the support of enough lawmakers to back her deal in a vote Tuesday. “Sterling has been knocked back on the news that Cox is not throwing all of his weight behind last night’s amendment to the Withdrawal Plan,” said Jane Foley, currency strategist at Rabobank International.



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London stocks rise, pound lower before Brexit "Plan B"

London stocks rise, pound lower before Brexit "Plan B"London's stock market climbed Monday, aided by a falling pound, with traders awaiting the UK government's Brexit "Plan B" after the country's parliament voted down Prime Minister Theresa May's original EU divorce deal.



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Stocks, oil prices retreat; pound down on eve of Brexit vote

Stocks, oil prices retreat; pound down on eve of Brexit voteLondon (AFP) – Stock markets and oil prices retreated Monday, while the pound faltered on the eve of the UK parliament's crucial vote on Brexit.



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Pound plunges as UK ministers quit over Brexit deal

Pound plunges as UK ministers quit over Brexit dealThe pound plunged against the dollar and euro Thursday after ministers, including Britain’s Brexit secretary Dominic Raab, quit in protest against a draft deal to exit the EU. The latest market gyrations came as the nation’s business sector gave a lukewarm verdict to the proposed agreement, and amid worries that British Prime Minister Theresa May could soon face a no-confidence vote. London’s FTSE 100 index of major companies meanwhile dipped 0.1 percent to 7,026.17 points.



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Target, Sam's Club among stores affected by 132,000 pound ground beef recall

Target, Sam's Club among stores affected by 132,000 pound ground beef recallProducts affected by a recent ground beef recall linked to a deadly E. coli



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Russian and Syrian jets pound Idlib province after summit

Russian and Syrian jets pound Idlib province after summitIdlib is Syria’s last major stronghold of active opposition to the rule of President Bashar al-Assad. At least a dozen air strikes hit a string of villages and towns in southern Idlib and the town of Latamneh and Kafr Zeita in northern Hama where rebels are still in control, witnesses and rescuers said. Syrian helicopters dropped so-called barrel bombs — containers filled with explosive material — on homes on the outskirts of the city of Khan Sheikhoun in southern Idlib, two residents said.



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