GBP in recovery mode


Hi everyone,


It's been a good few weeks for Sterling and the trend suggests there may be more recovery to come. As the pace of Brexit negotiations speed up, the chances of a 'no-deal' begin to wane and all of a sudden the Pound is looking bullish.

Inflation this Wednesday is forecast to drop back to 2.4% and retail sales to show a contraction after July's surprise bounce. These results may dent Sterling's run slightly, but investors will only be on the lookout for any new Brexit developments.

Up and coming data from the UK looks set to continue to show sluggish results and are more at risk of a decline than growth. However, any economic data releases should not impact £ too much whilst Brexit negotiations are ongoing. There is likely to be no talk of an interest rate hike until Brexit happens and so Sterling's performance hinges on the terms of the divorce with the EU.

The bottom line for now is as the probability of a Brexit 'no-deal' diminish, the Pound will rise in value.



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Wednesday, 19th September, 2018


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Thursday, 20th September, 2018

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07:45 EU - French GDP & PMI
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Dan Waterman

Office Manager



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