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Tag: Brexit

Germany-IW: A first assessment of the consequences of Brexit

Germany-IW: A first assessment of the consequences of Brexit Germany-IW: A first assessment of the consequences of Brexit

British hopes for a high Brexit dividend as a result of leaving the EU have not been fulfilled – at least not so far, an analysis by the Institute for German Economics (IW) notes. On the contrary, as expected disadvantages of the exit have emerged. The fact that Brexit will not bring savings to the […]

GBP/USD strengthens beyond 1.2050, on fresh multi-week highs

GBP/USD strengthens beyond 1.2050, on fresh multi-week highs GBP/USD strengthens beyond 1.2050, on fresh multi-week highs

GBP/USD hit a new multi-week high amid the onset of fresh dollar selling. An intraday positive shift in risk sentiment weighed on the greenback as a haven. Brexit woes could cap sterling’s gains ahead of the crucial FOMC decision. The pair GBP/USD attracted some buying on the dips near the 1.1960 area on Monday and […]

Brexit: Four new infringement procedures for the Northern Ireland protocol announced by the Commission

Brexit: Four new infringement procedures for the Northern Ireland protocol announced by the Commission Brexit: Four new infringement procedures for the Northern Ireland protocol announced by the Commission

The European Commission has announced the activation of four more infringement proceedings against the United Kingdom, which are likely to result in a referral to the European Court of Justice, for non-compliance with the provisions of the Northern Ireland Protocol. In total, the European Commission has activated seven infringement proceedings against London over the Northern […]

GBP/USD rises above 1.1950 amid widespread USD weakness

GBP/USD rises above 1.1950 amid widespread USD weakness GBP/USD rises above 1.1950 amid widespread USD weakness

GBP/USD gains ground for the second day in a row amid continued profit-taking around the dollar. Expectations for a more aggressive rate hike by the Fed and risk appetite weigh on the dollar. Brexit concerns could act as a headwind for the British pound and limit the pair’s gains. The pair GBP/USD extends last week’s […]

GBP/JPY trims modest intraday gains, holds above 163.00 amid JPY weakness

GBP/JPY trims modest intraday gains, holds above 163.00 amid JPY weakness GBP/JPY trims modest intraday gains, holds above 163.00 amid JPY weakness

A combination of factors did not help GBP/JPY to capitalize on its modest intraday gains. Brexit woes and less than rosy expectations from the Bank of England continued to act as a headwind for sterling. Risk aversion benefited the yen, which is a safe haven, and capped the cross’s gains. On Monday, the crossing GBP/JPY […]

GBP/USD falls to fresh daily low, looks vulnerable near 1.1950

GBP/USD falls to fresh daily low, looks vulnerable near 1.1950 GBP/USD falls to fresh daily low, looks vulnerable near 1.1950

GBP/USD finds fresh selling on Monday amid broad-based USD strength. Expectations for an aggressive rate hike from the Fed push the dollar back toward two-decade highs. Domestic issues continue to weigh on the GBP and added to the selling bias in the pair. The pair GBP/USD struggled to capitalize on last week’s modest recovery move, […]

GBP/USD falls near 1.1900 as USD hits fresh two-decade high before NFP

GBP/USD falls near 1.1900 as USD hits fresh two-decade high before NFP GBP/USD falls near 1.1900 as USD hits fresh two-decade high before NFP

GBP/USD sees fresh selling on Friday and gives back a significant portion of the previous day’s gains. Domestic issues continue to weigh on the British pound and act as a headwind for the pair. Expectations for an aggressive rate hike from the Fed lift the dollar to a new 20-year high and contribute to the […]

GBP/USD clings to 1.2150 ahead of UK PMIs and US factory orders.

GBP/USD clings to 1.2150 ahead of UK PMIs and US factory orders. GBP/USD rises above 1.1950 amid widespread USD weakness

The British pound is almost flat during the day, although slightly positive after a quiet day. Weaker economic data from the UK, high inflation and slower growth paint a stagflation picture for the pound. On Tuesday, the UK S&P Global/CIPS Composite and Services PMIs will provide additional information on the UK economy. During the American […]

Germany and Ireland slam UK government for reneging on Brexit deal

Germany and Ireland slam UK government for reneging on Brexit deal Germany-IW: A first assessment of the consequences of Brexit

Germany’s government has made a rare public statement, rebuking the British government for its plans to renege on the Brexit deal agreed with the European Union two years ago. German Foreign Minister Annalena Baerbock and Irish Foreign Secretary Simon Coveney wrote to the Observer today defending the Northern Ireland Protocol, saying it supports the Good […]

GBP/USD struggling near 2-week low just above 1.2150

GBP/USD struggling near 2-week low just above 1.2150 GBP/USD strengthens beyond 1.2050, on fresh multi-week highs

GBP/USD is down for the third day in a row and falls to a nearly two-week low. Expectations around the Fed and cautious sentiment benefit the safe-haven USD. The fall seems supported, while the focus of attention continues to be on the president of the Fed and the president of the Bank of England. The […]