We believe GBP is structural and that the fall in GBP is necessary.
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Smith projected that prolonged uncertainty would send EUR/GBP to 0.783 and GBP/USD to 1.18.
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The anticipated market reaction, according to Smith, would see EUR/GBP hit 0.85 and GBP/USD rise to 1.34.
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Such an eventuality, Gallo suggested in a recent note, would leave GBP/USD at 21.47 and EUR/GBP at 0.8943.
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BP is worth 88 billion GBP ($114.8 billion) and its shares closed on Tuesday in London at 445.80 GBP a share.
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Gbp 484.5 million as of 1803, June 2016 * Qtrly basic earnings per share 0.71 pence * Qtrly total revenue gbp 120.2 million versus gbp 123.6 million * For fiscal 2017, Manchester United continues to expect: * revenue to be £530m to £540m.
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Unfortunately however, the crowdfunding effort to fund the app has only raised 60 GBP ($80) of its 5,000 GBP ($6,700) target thus far.
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However, the multinational publishers reiterated their expected 2016 operating profit (before costs of restructuring) of GBP 580 million ($849 million) to GBP 620 million.
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Although net GBP shorts may be near the extremes, we would expect the positional skew to extend further taking GBP/USD back to 20183.
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"Sterling shorts have grown further and are moving in line with both EUR/GBP and GBP/USD," said Kit Juckes, macro strategist at Societe Generale.
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Moreover, "sterling shorts have grown further and are moving in line with both EUR/GBP and GBP/USD," said Kit Juckes, macro strategist at Societe Generale.
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A hung parliament would send EUR/GBP towards £0.87 and GBP/USD down towards $1.26 over the next few days as sterling speculative shorts are rebuilt.
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Since the referendum, sterling has fallen more than 22015 percent on a trade-weighted basis =GBP and it hit its lowest against the U.S. dollar GBP= since 1985 on Wednesday.
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Its head office operating expenses are denominated in GBP, creating some exchange rate risk, but this is partly offset by the GBP income-generating potential of its London real estate investments.
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He noted that in 2016, UK nationals living in Spain spent GBP 222 million ($288.05 million) on healthcare, while Spanish nationals living in the UK spent GBP 4 million ($5.19 million).
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"While medium-term GBP appreciation is still likely, the tail risks of a no-deal or disorderly Brexit scenarios have increased, and should weigh on GBP," wrote currency strategists at Barclays.
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For a graphic on GBP risk reversals, see - tmsnrt.
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For a graphic on FTSE, GBP correlations, see - tmsnrt.
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GRAPHIC: GBP implied vols rise above 10 vols - tmsnrt.
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Goldman Sachs said implied volatility "is pricing less upside risk of a further GBP/USD rally," as shown in the chart below ("GBP/USD 1-month implied volatility based on different deltas"):
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Hard to be optimistic on GBP in the short term.
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The pound GBP= was last 0.25 percent lower at $1.2968.
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Our analysis shows that GBP will strengthen against the Euro.
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The situation in sterling is different, but equally uncertain =GBP.
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ECONALLUS Sterling GBP= turned flat ahead of Thursday's general election.
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The pound GBP= was flat on the day at $1.4112.
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Smith & Nephew is valued at 13.28 billion GBP ($17.19 billion).
|
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Sterling GBP= rose 0.55 percent against the dollar to $1.3265.
|
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Options were pricing a large GBP/USD reaction to the speech.
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Following the Leave vote, sterling GBP= fell and sent inflation soaring.
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For full coverage click on the Brexit page: here For a weekly round-up of Brexit news: here - CURRENCY: Sterling GBP=D4, which traded as high as $1.50 on June 23, was last fetching $20183 GBP=D3.
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Sterling GBP=D3 also briefly surged more than one percent to $533.
|
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I exchange it now and it comes out to roughly 111 gbp.
|
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For a graphic on GBP firms, implied vol still elevated, see - tmsnrt.
|
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Sterling GBP= was last trading at $1.2829, down 0.16% on the day.
|
|
Sterling GBP= was last trading at $1.2829, down 0.16% on the day.
|
|
Sterling GBP= also fell against the dollar, shedding 0.6 percent to $1.4298.
|
|
Sterling dropped 0.9% to $1.2409 GBP=D3, its weakest since April 2017.
|
|
Sterling GBP= was last at $1.3128, up 0.24 percent on the day.
|
|
On Tuesday GBP/USD was trading at around 1.2870 against the dollar.
|
|
This suggests scope for a relief rally in GBP after the election.
|
|
The pound fell 0.6 percent against the dollar to $1.4397 GBP=D4.
|
|
Sterling fell below $1.28 GBP= for the first time since late June.
|
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Sterling GBP=D3 was up 0.36 percent against the dollar at $1.315.
|
|
Tickets purchased in advance are around 40 to 50 GBP each way.
|
|
Sterling GBP=D3 traded up half a percent at $1.2729 on Wednesday.
|
|
Graphic: GBP Positions, here Reporting by Saikat Chatterjee; Editing by Giles Elgood
|
|
Sterling GBP= also slipped against the dollar, falling 1 percent to $1.2390.
|
|
In this scenario, GBP would turn into a 'buy the dip' story.
|
|
"While we don't want to stand in front of any GBP rally, we recognize that the move is already meaningful and for EUR/GBP to break below 0.8500 level we need more catalysts," ING analysts said in a note.
|
|
"While we don't want to stand in front of any GBP rally, we recognise that the move is already meaningful and for EUR/GBP to break below 0.8500 level we need more catalysts," ING analysts said in a note.
|
|
Sterling GBP= was last trading at $33, up 0.02 percent on the day.
|
|
The dollar also rose against sterling, which fell 0.3 percent to $1.2559 GBP=.
|
|
Despite thirteen consecutive days of decline against the EUR, GBP still remains fragile.
|
|
Sterling GBP= was last trading at $1.2986, down 0.35 percent on the day.
|
|
This postpones a BoE (Bank of England) hike and should weigh on GBP.
|
|
Sterling GBP= was last trading at $2288.81, up 22.6 percent on the day.
|
|
Revolut already launched a similar feature for your GBP balance back in February.
|
|
The National Living Wage is currently set at 7.20 GBP per hour ($10.43).
|
|
But it had retraced its losses in afternoon trade, last at $1.309 GBP=.
|
|
Sterling GBP= was last trading at $13, up 1.45 percent on the day.
|
|
Against the dollar GBP=D3 it fell by a similar margin to $1.2859.
|
|
Sterling GBP= was last trading at $1.3997, up 0.09 percent on the day.
|
|
Sterling GBP=D3 fell below $1.24 for the first time since April 2017.
|
|
Sterling late Wednesday was down 0.3 percent against the dollar, at $1.3311 GBP=.
|
|
Sterling lost 0.15 percent to $1.2365 GBP=D4 against a broadly stronger dollar.
|
|
GBP GR did not immediately reply to a Reuters request for a comment.
|
|
For a graphic on 'GBP implied vols rise above 10 vols', click: tmsnrt.
|
|
Sterling GBP=D3 was broadly flat at $1.3195 after two sessions of gains.
|
|
Before that, GBP/USD looks set to first test key support of 113.
|
|
Sterling GBP= was last trading at $1.2873, up 0.12 percent on the day.
|
|
GBP=D3 Against the euro, it was 0.1 percent higher at 88.10 pence.
|
|
The pound GBP= was last up 0.92 percent against the dollar at $1.2294.
|
|
Most economists expect further declines, perhaps another 10 percent to below $1.20 GBP=.
|
|
Sterling GBP= was last trading at $1.3411, up 0.56 percent on the day.
|
|
Against the dollar, the pound GBP=D3 also edged 0.2% higher to $1.2545.
|
|
Sterling GBP= was last trading at $63, up 0.36 percent on the day.
|
|
"Given the current uncertainties, I think GBP weakens into year end," Derrick concluded.
|
|
Data from the World Bank shows that the country's GBP is $2,030 (£1,409).
|
|
It GBP= was last trading at $103, up 0.09 percent on the day.
|
|
Sterling GBP= was last trading at $1.3316, down 0.14 percent on the day.
|
|
Currencies including USD, EUR, JPY, GBP and other currencies are listed for trading.
|
|
Sterling GBP= was last trading at $1.3944, up 0.06 percent on the day.
|
|
GBP=D3 Sterling also fell against the euro, down 0.6% at 85.27 pence.
|
|
As a group, they expect sterling GBP= to strengthen over the coming year.
|
|
Sterling GBP=D23.9 reversed its earlier drop to rise to $1.3147, up 0.41 percent.
|
|
GBP/ The Japanese yen was little changed against the dollar, trading at 110.59 yen.
|
|
Back in July 2017, Revolut gave you a personal IBAN in EUR and GBP.
|
|
Against the dollar, sterling was trading up around 0.1 percent at $1.2990 GBP=D3.
|
|
Every Revolut user can now access their personal bank account details for GBP transfers.
|
|
"We see more GBP weakness to come," ING said in a note to clients.
|
|
Barclays profitability of US and European operations will increase simply via translation into GBP.
|
|
These lead to "higher levels of uncertainty and lower growth GBP," the bank said.
|
|
On a 'Brexit' I'd look for GBP/USD to trade to 1.30, at least.
|
|
The company claims that prices have decreased by 30 percent for GBP/EUR transfers.
|
|
By 1523 GMT on Wednesday, sterling was 0.1 percent higher at $1.2910 GBP=D3.
|
|
Sterling rose as much as 0.3% to $1.3180 GBP=D3 before erasing those gains.
|
|
The pound stood at $1.4250 GBP=D4, just above $1.4228 hit in May 2010.
|
|
The "partial clean-up of the GBP short positioning (and some built-up of new speculative longs) since the beginning of the year can also add to the reversal as GBP positioning is no longer meaningfully skewed one way," the analysts wrote.
|
|
"While the prospects of a second referendum could eventually help to stabilize GBP (as well as lower the probability that Labour policies would be introduced in full under a minority Labour-led government) the initial reaction would likely be GBP negative," he added.
|
|
I get out at my hotel and give him 17 pounds (14 gbp fare + tip).
|
|
The greenback has also weakened against the Canadian dollar CAD=and the British pound GBP=.
|
|
In trade-weighted terms =GBP, the pound is back where it was on April 9.
|
|
GBP= - It also weakened 0.3 percent to 87.3 pence versus the euro, a session low.
|
|
Sterling GBP= fell 21 percent, its biggest daily fall against the dollar since Nov. 1.13.
|
|
L: * CABOT CREDIT MANAGEMENT IPO: BOOKRUNNER SAYS PRICE RANGE GBP 210 – 260 Further company coverage:
|
|
British customers will get an account in GBP, a debit card and personal account information.
|
|
His comments knocked the pound to near two-week low against the dollar GBP=D3.
|
|
This space luggage concept is projected to retail for over £40,000 GBP (approximately $50,000 USD).
|
|
The yen was flat against the greenback while sterling GBP= fell 0.6 percent to $1.13.
|
|
Receiving currencies initially being supported are GBP, USD, EUR, SEK, DKK, CAD, AUD and NZD.
|
|
The pound plunged to a low of 1.5 GBP=D225, its weakest since January 22020.
|
|
A UK jeweler estimated to Metro that the wedding cost around 75,000 GBP (nearly $92,000).
|
|
Sterling rose from six-month lows to $1.2523 GBP=D3, up 0.1% on the day.
|
|
The British pound GBP= was last at $1.40, up nearly 0.7 percent from Tuesday's close.
|
|
Sterling, as a result, held gains against the dollar rising 0.5 percent to $1.0.51 GBP=.
|
|
Sterling extended losses after the data and was last down 0.3% at $1.2454 GBP=D3.
|
|
The remaining 12 million GBP requirement will come from alternative sources provided by His Highness.
|
|
The "partial clean-up of the GBP short positioning (and some built-up of new speculative longs) since the beginning of the year can also add to the reversal as GBP positioning is no longer meaningfully skewed one way," the analysts wrote in a note.
|
|
"The most likely outcome is that volatility continues to fall and the pound drifts in a range against the dollar, with EUR/GBP reflecting the European political mood, which in turn gives GBP/USD a bearish bias overall," Societe Generale strategist Kit Juckes said.
|
|
Sterling fell initially as she spoke, then climbed to session highs, rising above $1.29 GBP=D3.
|
|
The British pound, meanwhile, rose to a three-week high against the dollar at $1.3227 GBP=.
|
|
She opted for a bold red ruffled top by Lovedrobe, which retails for $38 (£30 GBP).
|
|
Trading around $2250 before the 250 Brexit referendum, sterling has stumbled to sub-$228 GBP=D215.
|
|
The British currency GBP=D3 rose as high as $1.4118, up 0.8 percent on the day.
|
|
He recommended selling into the sterling rally, given the high possibility of a "GBP-negative events".
|
|
EUR/GBP is for now clinging onto the uptrend support line drawn from the April low.
|
|
A coalition government may encourage some to argue GBP should be lower owing to the uncertainty.
|
|
Price action in both has been frustrating for those looking for lower yields and weaker GBP.
|
|
It was a touch firmer on the euro at $1.0837 EUR= and pound at $1.2948 GBP=.
|
|
It was a touch firmer on the euro at $1.0837 EUR= and pound at $1.2948 GBP=.
|
|
Sterling cooled off a bit on Friday, down 0.3% against the dollar at $1.3128 GBP=D3.
|
|
Sterling cooled off a bit on Friday, down 0.3% against the dollar at $1.3128 GBP=D3.
|
|
Since the referendum, it has fallen 17 percent against the dollar GBP= and euro GBPEUR=R.
|
|
ING chief EMEA FX strategist Petr Krpata projects that a large majority of 21.24 or more seats would push GBP to $20.89 in the immediate aftermath and take EUR/GBP down to £0.82, while a thin majority would mean fractionally more contained advances to $1.33 and £0.83.
|
|
The euro EUR= fell 2251.38 percent to $0.43 and the pound GBP= dropped 20.4 percent to $21.
|
|
Sterling, which has fluctuated wildly in response to the political turmoil, was flat at $1.2860 GBP=D3.
|
|
Lush's goal is raise 250,000 GBP (around $310,000), a portion of which will go to Access Now.
|
|
Both funds invest solely in GBP instruments and deposits and neither fund is allowed to utilise leverage.
|
|
If I try to convert 2,000 GBP in the Revolut app right now, I'd get 3,660.50 AUD.
|
|
It climbed as much as 21 percent to hit $268 GBP=D21.50, its strongest since Oct. 0.493.
|
|
Sterling also jumped as high as $1.3047 GBP=D3, up more than 1.4 percent on the day.
|
|
Currently, Number26 lets you transfer euros into GBP, CHF, CAD, PLN, HUF, SEK, INR, AUD and USD.
|
|
Sterling GBP= fell 0.55 percent to $1.2477 ahead of Thursday's first Bank of England meeting of 2017.
|
|
Sterling rose modestly against the U.S. dollar GBP= after the data and British government bond prices fell.
|
|
GBP=D3 It was up 0.1 percent versus the euro at 89.61 pence per euro EURGBP=D3.
|
|
Against the dollar GBP=D3, sterling edged 0.3% higher to $1.2497, just off Tuesday's low of $1.2439.
|
|
GBP=D3 Against the euro, the pound also rose to a four-day high of 87.25 pence.
|
|
The pound GBP=D3 was down 0.37% at $1.2476 after touching a two-month high at $1.2582.
|
|
Before the donation, he calculated that his show could cost him up to 15,000 GBP (roughly $19,500).
|
|
Sterling was up 0.4% against the euro on Thursday afternoon, with EUR/GBP trading at around 0.8418.
|
|
The pound GBP=D3 was down 0.37% at $1.2476 after touching a two-month high at $1.2582.
|
|
Sterling fell around 0.6 percent against the dollar GBP= after the data, hitting a low of $1.3250.
|
|
While the FX covered bonds are fully hedged till maturity (including the extension period), upon the covered bonds' event of default, recoveries from GBP-denominated assets, which have a longer weighted average life than the covered bonds, could expose holders of non GBP-denominated bonds to FX risk.
|
|
Sterling tumbled against the euro EURGBP=D22, dollar GBP=D21, yen GBPJPY=D3 and Swiss franc GBPCHF=D3.
|
|
I got 230 gbp out of my bank at home, plus $27 to exchange when I got here.
|
|
This year, we've seen firsthand the consequences of geopolitical risk on FIAT currencies like the USD and GBP.
|
|
The British pound GBP=D212.5 dropped to $27.0, its lowest since early July, and last traded at $1.3078.
|
|
The British pound GBP= rose 1 percent against the dollar, touching a fresh seven-week high at $1.3443.
|
|
Against the dollar, the pound fell to $1.2501, down nearly 1 percent from the day's high GBP=D3.
|
|
The pound GBP= edged higher further against the dollar amid increased optimism around Brexit and the economic backdrop.
|
|
Brian Kelly is long Bitcoin, DXJ, TLT, XOP, WTI, US Dollar UUP; he is short EUR=, JPY=, GBP=.
|
|
The company lets you top up and hold money in EUR, GBP, USD, Russian rubles and Kazakhstani tenge.
|
|
Sterling GBP=D4 fell about 1 percent against the dollar to a nearly two-week low of $1.117.380.
|
|
In volatile trading, the pound GBP=D3 sank 1.9 percent to $1.50, its biggest daily drop this year.
|
|
"On that basis, these would be good levels to buy EUR/USD and also, EUR/GBP," he added.
|
|
Sterling was last down 8.3 percent at $1.3642 GBP=, having carved out a range of $1.3228 to $1.5022.
|
|
By comparison, the United Kingdom now requires a minimum investment of £22019 million GBP (about $2.5 million USD).
|
|
The pound GBP= was down 1.5 percent on Friday, set for its biggest daily loss since June 2017.
|
|
Retailing at £120 GBP (approximately $147 USD), the Dior straws are availableonlineas well as in select Dior boutiques.
|
|
After an initial plunge, sterling pared losses against the dollar GBP= and euro EURGBP=, while the dollar gained.
|
|
Sterling index fell to 74.2 =GBP its lowest since Jan 2009 and down 0.7 percent on the day.
|
|
If you want to transfer those tokens somewhere else, you'll have to sell them for USD, GBP, etc.
|
|
The British pound fell 1 percent against the dollar GBP=D4, slipping from a two-week high of $.
|
|
The pound GBP= fell as low as $1.2917 before retracing to $1.2940, down 193 percent on the day.
|
|
The pound GBP= fell 0.3 percent against the dollar and touched its lowest level in about a month.
|
|
"If you're in need of a Brexit-proof GBP account, we can be your perfect match," Monese tweeted.
|
|
Jordan Rochester and his team at Nomura are mildly more optimistic, writing on May 24 (emphasis ours): So once the knee-jerk reaction lower in GBP takes place, the expectation of tighter BoE policy would see an improvement in real yields and the fall in GBP to eventually be offset.
|
|
The FX covered bonds are fully hedged until maturity (including the extension period if applicable), but upon a covered bonds' event of default, recoveries from GBP-denominated assets, which have a longer weighted average life than the covered bonds, could expose holders of non GBP-denominated bonds to FX risk.
|
|
Sterling dropped to as low as $1.3076 GBP=D3, almost two cents lower than where it started the day.
|
|
He had also planned to sell 5.4 billion GBP worth of RBS shares by the end of this year.
|
|
The British pound fell to its weakest against the U.S. dollar in over three decades on those worries [GBP/].
|
|
"GBP/USD can bounce fiercely if only there's some good news," said Kit Juckes, currencies strategist at Societe Generale.
|
|
Options markets were pricing a large GBP/USD reaction to the speech, as investors bought protection against sharp fluctuations.
|
|
The pound has fallen 28 cents since the night of the vote, dropping to $1.2215 GBP=D4 on Tuesday.
|
|
You can top up your Revolut account in USD, GBP and EUR using a credit card or bank transfer.
|
|
And, like all great art, it came at a great price for its creator—GBP 0.99, to be exact.
|
|
RegS/144A for life, 200k/1k denoms for the USD, 100k/1k for the GBP, NC3 (50%/25%/par).
|
|
The pound was 1 percent lower at $1.2626 after touching a fresh three-decade low of $1.2622 GBP=D4.
|
|
Sterling GBP=D3 rebounded from the day's lows against the dollar after the government sidestepped defeat on the amendment.
|
|
Creating a Revolut account is basically like creating an electronic wallet in three different currencies — USD, EUR and GBP.
|
|
Sterling so far this year has lost more than 470 percent of its value against the dollar GBP=D4.
|
|
The pound initially rose on the announcement, climbing to as high as $1.3279 GBP=D3, from around $1.3215 beforehand.
|
|
The pound GBP= was last up 1.06 percent against the dollar at $1.4350, up from Thursday's lows of $1.4010.
|
|
Traders have bought the dollar against the British pound GBP=D3 and the Canadian dollar CAD=D3 among others.
|
|
The contract size is over $1 billion and is part of a GBP 2.6 bln Scottish wind farm project.
|
|
Sterling hit a one-week low of 0.33 GBP= earlier, and was last trading at $20.3, down 21 percent.
|
|
Against the dollar GBP=D3 sterling firmed 0.3 percent to as high as $1.3186, its strongest level since Sept.
|
|
Daily cash volumes for sterling GBP= fell 6 percent to $285 billion over the six months to October 2017.
|
|
The British currency fell to its low point in nearly two weeks - down as much as $123 GBP=D3.
|
|
"Gross claims all products preliminary estimated to GBP 50 million," it said as it released its second-quarter earnings.
|
|
The pound GBP= dropped as investors ramped up bets on Britain leaving the EU without an agreement with Brussels.
|
|
My theoretical retirement portfolio looks as follows: tactically long SPX, long GBP (and overweight UK assets), long RUB carry.
|
|
As a result, levels of volatility in the pound against the dollar GBP=D22 have almost halved since January.
|
|
The pound shed more than 2 percent against the dollar, dropping as low as $1.2636 GBP= before trimming losses.
|
|
The British currency fell to its low point in nearly two weeks - down as much as $123 GBP=D3.
|
|
The dollar also gained against sterling GBP=D4, which was last down 0.64 percent against the greenback at $1.2167.
|
|
GBP=D3 Additional reporting by Tom Finn in London and Rodrigo Campos in New York; Editing by Tom Brown
|
|
"GBP/USD implied volatility is already pricing higher uncertainty towards next December, another important Brexit deadline," Goldman Sachs said.
|
|
"Following the colossal rejection of 1.3500 in GBP, we are now finally entering the primary support zone (1.2990 touched), so if you are bullish GBP into 2020 (and who isn't!), then this may be the place to take a shot," Stephen Innes, a strategist at AxiTrader, wrote in a note to clients.
|
|
In a note Monday, Gallo suggested that some foreign exchange investors might see an opportunity to buy GBP now on the assumption that the Conservatives win a 25 to 75 seat majority on December 12, but said that from a "reward-for-risk perspective," the outlook for GBP is now incredibly binary.
|
|
Sterling GBP= was down 0.32 percent on the day, but on pace for its biggest weekly gain in seven weeks.
|
|
When it comes to depositing money in your account, The Pit currently supports USD, EUR and GBP via bank transfers.
|
|
The British pound GBP= recovered some of the losses suffered Monday after two ministers quit over the government's Brexit plans.
|
|
The pound GBP= was last down 0.30 percent at $1.2999, after earlier dropping to $1.2957, its lowest since July 11.
|
|
By 1530 GMT, the pound was up 0.2% to $1.3025 GBP=D3, not far from the day's high of $1.3046.
|
|
By 1530 GMT, the pound was up 0.2% to $1.3025 GBP=D3, not far from the day's high of $1.3046.
|
|
The pound rebounded by as much as 1.5 percent GBP=D4 from its 11 percent plunge after the British referendum.
|
|
Brian Kelly is long Bitcoin, CLR, XLF, XLV, XLI, IWM, US Dollar UUP; he is short AUD=, JPY=, EUR=, GBP=.
|
|
The pound rose as much as one percent against the dollar to $1.4088 GBP=D3, its strongest since Feb. 16.
|
|
"Political tensions in the euro zone should deflect flows in Europe away from the EUR towards the GBP" Gallo said.
|
|
The British pound GBP= was mentioned by companies more than any other currency in second-quarter reports, their data showed.
|
|
The pound rose 0.6 percent to as high as $1.3105 GBP=D3, cutting its losses since Monday to one percent.
|
|
Sterling GBP= was last trading at $21, down 266.62 percent on the day, and also fell steeply against the euro.
|
|
Sterling lost almost two percent last week just as British holidaymakers were heading off for some overseas sun GBP=D3.
|
|
Sterling was the main underperformer on Tuesday, tumbling to a 31-year low against the dollar at $1.3000 GBP=D4.
|
|
Against the dollar, sterling GBP= has weakened about 9 percent since the referendum and was trading above $1.30 on Wednesday.
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The pound, down before the report, surged as much as 103% to $1.2840 GBP=D3, a new five-month high.
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But the fact that it is cheap and unloved means there is a risk we see a slightly stronger GBP.
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Earlier this week, the sterling GBP= tumbled to a 31-year low against the dollar near $1.31 following the referendum outcome.
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Sterling GBP= is down more than 18 percent on the dollar since Britons voted in June to leave the European Union.
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Sterling GBP=D3 was up 0.18 percent at $1.3056, not far below a five-week high of $20183 set on Tuesday.
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If Trump wins today, the USD is likely to take a tumble just as the GBP did following the Brexit vote.
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Sterling hit a 31-year low of $1.203 GBP=D4 after opening before recovering to $1.2717, marginally lower on the day.
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Sterling gained 0.86 percent against the greenback at $1.334 GBP=D1.423 and rose 2.32 percent to 137.02 against the yen GBPJPY=.
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In Europe, sterling GBP=D4 fell against the dollar for the first time in six sessions, hurt by weak factory data.
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For instance, converting GBP to AUD is free during weekdays and below £5,000 per month (9,647.0.5 AUD, 5,600 EUR, 6,340 USD…).
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The pound GBP= has been hit by concerns about a potential exit or 'Brexit' from the European Union and Tokyo's Nikkei .
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"We see EUR/GBP reaching 0.89 in the second half of the year, with upside risk to the forecast," she added.
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The pound GBP=D3 rose from the day's lows of $1.3103 but remained 0.2 percent weaker on the day at $1.3175.
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The pound traded at $1.2451 GBP=D3, down 0.2% and more or less where it stood before news of Johnson's victory.
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But it traded up 0.3 percent on Monday to reach a 10-day high versus the dollar of $1.3065 GBP=D3.
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Sterling GBP= rose to $1.4676, up 0.2 percent on the day, and just more than a cent below its 2016 high.
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Sterling declined 0.4 percent to $1.1.11472 GBP=D3 as Britain began formal negotiations on its planned exit from the European Union.
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Sterling GBP=D393 net short contracts, meanwhile, continued their decline, falling to 383,373, their smallest since the third week of September.
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Against the dollar GBP=D3, the pound was broadly flat at $1.2850 after jumping by nearly a cent following Tuesday's vote.
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So, I'm comfortable sticking with a 'long-GBP' view here for the time being, although the upside is now more limited.
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And while one can understand why GBP would be lower on the Tories' lack of a majority, this move seems extreme.
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It was down 0.2 percent against the dollar at $1.83 GBP=D4 while the euro was flat at 90 pence EURGBP=.
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The British pound GBP= fell 0.35 percent against the dollar to $1.3075, having earlier reached its highest level since September 2016.
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After creating your account on Revolut, you get a sort of electronic wallet in three different currencies — USD, EUR and GBP.
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An average meal for two, without drinks or tip, is about 60 pounds (GBP), or roughly $80 at current exchange rates.
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Sterling GBP=D3 rose 1.14 percent to $1.2627, bouncing from a 20-month low of $1.2477 set earlier in the session.
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The index tends to move inversely to GBP on account of the proportion of FTSE 24 companies' profits denominated in dollars.
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The British currency gained as much as nearly 0.5% on the day to $0.5853 GBP=D3 after the ruling while stocks .
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Announces second cross currency swap agreement * Entered into an additional cross currency swap agreement as part of its ongoing currency hedging program * Concordia International - believes swap agreement will further align GBP earnings with debt obligations * Believes swap agreement will help manage impact of fluctuations in GBP to usd exchange rate Source text for Eikon: Further company coverage:
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The National Gallery: Masterpieces of Painting (National Gallery Publishing, 65 USD, 853 GBP) The Metropolitan Museum of Art Guide (Metropolitan Museum of Art, 25 USD, 18.99 GBP) As far as books are concerned, The Met in New York and London's National Gallery have been showing off the best of themselves in rather similar ways this year.
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Sterling fell to a 10-day low of $1.4444 GBP=D4, well below a four-month high of $1.4770 struck on Tuesday.
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Elsewhere, sterling GBP=D£, which has been battered this year by Brexit woes, rose to a three-week high in quiet trade.
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Sterling GBP=D3, which had jumped more than 1% against the dollar on Thursday, was down 0.3% on the day to $1.2217.
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Sterling, trading around $1.2160 GBP=D3 earlier, rocketed to as high as $1.2265, before settling around $1.2217, up 0.8% on the day.
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GBP=D3 Sterling also jumped against the euro and at 1325 GMT was up half a percent at 89.66 pence EURGBP=D3.
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Sterling dropped 0.6% to $1.2490 GBP=D3, its lowest level since January 3 - the "flash crash" when the pound dropped to $1.2409.
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The greenback was also up 0.3 percent against sterling at GBP= $1.4224, although the pound remains on its best run since 2012.
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"We see limited upside potential for the GBP while no-deal Brexit risks remain elevated," Scotiabank analysts said in a research note.
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Sterling GBP= was last trading at $1.2999, up 0.22 percent on the day, with the euro EUR= up 0.23 percent to $1.1315.
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The pound GBP=D3 was down 0.31% at $1.244, within striking distance of a 27-month low of $1.2382 reached last week.
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Sterling jumped to a day's high of $1.2954 and traded up 1.4 percent on the day GBP=D3 after the BoE's decision.
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The sterling was down 0.8 percent at $1.2738 GBP=D4 after falling earlier on Tuesday to $1.2720, its weakest since June 1985.
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Sterling GBP= sank to its lowest level against the U.S. dollar since September 1.1.31, down 21.25 percent to $22.6, surpassing Friday's low.
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The pound GBP=D3, which has yoyoed in the past month between $1.21 and $1.26 was flat on the day around $1.2553.
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Against a trade-weighted basket of currencies, sterling hit a five-week high of 76.5 =GBP, up 1 percent on the day.
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After falling more than 2 cents last week, sterling was 0.2 to 0.3 percent stronger against the dollar GBP= and euro EURGBP=.
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The British pound GBP= was 0.37% higher to trade at $1.208, with the euro EUR= up 0.17% against the dollar at $1.1219.
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The pound traded at $1.4415 GBP=D4, holding above a 5-1/2 year trough around $1.4352 set earlier in the week.
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During the same visit, Ivanka arrived at the royal banquet on June 3 wearing an $11,720 (£9,267 GBP) dress from Carolina Herrera.
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Ivanka wore a $2,990 Oscar de la Renta dress and $709 (£561 GBP) Manolo Blahnik shoes at her father's reelection kickoff rally.
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Netflix & Chill&aposd will be priced at £5.49 GBP (approximately $7 USD) and is also expected to release in non-dairy options.
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The Japanese yen strengthened 0.01% versus the greenback at 109.88 per dollar, while sterling GBP= was last trading at $1.3135, up 0.67%.
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The Japanese yen strengthened 0.01% versus the greenback at 109.88 per dollar, while sterling GBP= was last trading at $1.3135, up 0.67%.
|
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Sterling stood at $1.3616 by late afternoon in London, up from as low as $1.3228 GBP=, its weakest level since mid-1985.
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In the context of a weak U.S. dollar and strong global growth, our new 12-month GBP-USD view is now $1.52.
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On Tuesday, sterling rose 0.3% against the dollar to $1.2175 GBP=D893, away from the 31-month low of $1.2080 hit last week.
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It also fell half a U.S. cent to a three-day low of $1.89.94 GBP=D4, before recovering to trade flat at $1.2169.
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The pound has rebounded nearly 3 percent GBP=D4 this week to register its best weekly performance against the dollar since October 2009.
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The pound GBP= tumbled to near $1.32, its lowest level since 1985, before bouncing back to a loss of 8 percent at $1.3678.
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The British pound GBP= and the euro EUR= were the most mentioned currencies in earnings calls by North American companies, the data showed.
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"We think U.K. equities are set to outperform Europe in this case, given likely GBP (sterling) weakness," analysts led by Sebastian Raedler said.
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Investors are bracing for volatile trading conditions, and particularly the prospect of sharp one-off moves in sterling GBP=D4, after the vote.
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The British government has so far only managed to recoup just over half of the 133 billion GBP it spent rescuing the banks.
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Sterling GBP=D4 hit a six-day high against the dollar of $1.2317, rebounding from a three-month low of $1.2038 touched Wednesday.
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The pound was down 0.3% against the dollar at $1.2170 GBP=D3 and slipped 0.1% versus the euro to 91.20 pence EURGBP=D3.
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The pound rose from just below $1.30 GBP=D3 to as high as $1.3044 after the report, up 0.6 percent on the day.
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Unless you plan to spend tens of thousands of GBP during your vacation, you won't see a huge difference on your bank statement.
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Sterling GBP= was last trading at $1.3375, up 0.05 percent versus the greenback, while the Japanese yen strengthened 0.07 percent on the day.
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|
"[A] deluge of negative Brexit headlines could have led to an algo taking that as a major sell signal for GBP," said Brooks.
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"Despite recently rising U.S. and European yields as well as GBP (sterling) weakness, the euro held up well last week," the note said.
|
|
London's FTSE 100 rose 0.4 percent, but did not match advances seen on most European bourses as a firmer pound GBP= capped gains.
|
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"Fears of Brexit have relegated the GBP to the bottom of the leader board," said Rodrigo Catril, FX strategist at National Australia Bank.
|
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"In our view the event of Theresa May triggering Article 50 will have a limited effect on GBP," he told CNBC last week.
|
|
Sterling GBP= was the day's biggest mover, falling by more than 1 percent to its lowest level against the dollar in a week.
|
|
Having fallen against the dollar on Wednesday, sterling gained more than 1 percent on Thursday to reach as high as $1.2542 GBP=D4.
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The pound fell to a low of $22016 in Asian trading and was last down 22017% on the day at $22017 GBP=D23.
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The limited anniversary NASA case will be available for purchase on July 19 for £650 GBP (approximately $810 USD) at Horizn Studios'web store.
|
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She added a flowy $23 (£18 GBP) maxi duster jacket from Pretty Little Thing and the $26 ASOS trousers she wore on Thursday.
|
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The British pound GBP=, which fell below $21.39 against the U.S. dollar for the first time since 21.321 on Wednesday, again turned lower.
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The pound was marked as far down as $1.4430 GBP=D4, but has since returned to $1.4463, 0.1 percent lower on the day.
|
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This would see the collapse of sterling, with the euro's value drawing level with the pound and GBP/USD plummeting to just 1.10.
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Sterling was 0.05 percent lower at $1.3472 GBP=D3 but still in reach of a two-month high of $1.3550 scaled on Friday.
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The pound has fallen almost 20 percent against the dollar GBP=D4 and nearly 14 percent against the euro GBPEUR= since the vote.
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|
Sterling was up 0.1 percent at $1.3390 GBP= but well off Friday's high of $1.3521 hit as after a breakthrough in Brexit negotiations.
|
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By 21923 GMT, the pound had rocketed as much as 23% to $22 GBP=D20 - its biggest one day gain since January 28.
|
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By 22016 GMT, the pound had rocketed as much as 255% to $22010 GBP=D22015 - its biggest one day gain since January 22017.
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The pound hit a 31-year low against the dollar last week GBP=D4, while the euro EUR= also weakened versus the greenback.
|
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The dollar fell against the euro EUR=, Japanese yen JPY= and British pound GBP=, touching session lows against each at around 3 p.m.
|
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The pound was 0.9 percent lower at $1.4375 GBP=D4 after having fallen to as low as $1.4352, its lowest since May 16.
|
|
GBP/USD is currently 5 percent lower, after falling 10 percent at the low of the "Flash Crash" and 10yr Gilts are 65bp cheaper.
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"Over recent months, there has been a significant change on the US Dollar to GBP exchange rate," said the company in a blog post.
|
|
The sterling was down 0.2 percent at $1.4483 GBP=D4, while the euro was 0.5 percent lower against the pound at 78.14 pence EURGBP=.
|
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It staged a mini revival in August, but this week fell back below $1.30 within sight of the July low just under $1.28 GBP=.
|
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The pound rose to as high as $1.4545 GBP=D4, up 1.2 percent from late last week and its highest level since June 8.
|
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Sterling's depreciation has led to an improvement in the net international investment position, as it has boosted the GBP value of UK investments abroad.
|
|
The Japanese yen weakened 21 percent versus the greenback at 20.96 per dollar, while sterling GBP= was last trading at $21, up 2244.40 percent.
|
|
The British pound rose to a two-month high against the euro EURGBP= and GBP= firmed toward a two-month high against the dollar.
|
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The Japanese yen weakened 0.23 percent at 112.74 per dollar, while Sterling GBP= was last trading at $1.2980, up 0.01 percent on the day.
|
|
As such, my 'long GBP/long UK asset' view has done rather well in October, with the pound alone rallying from 20173 to 1.29.
|
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Cable (GBP/USD) fell from levels as high as $2110.31 on Thursday to a multi-month low of $20.7535 on Friday morning London time.
|
|
The Japanese yen strengthened 0.11 percent to 113.79 per dollar JPY=, while sterling GBP= last traded at $1.3257, up 0.94 percent on the day.
|
|
While not everyone could get to try the $7.45 (£5.95 GBP) ice cream treat, the optical illusion captured the internet's attention at the time.
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Age: 32Occupation: Assistant Media Relations ManagerSalary: $41,331 USD (£32,003 GBP)Hometown: London, United KingdomTrip Location: Nashville, TennesseeTrip Length: 8 daysAnnual # Of Vacation Days: 25.
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Unfortunately, if you want to deposit or withdraw fiat currencies (USD, EUR, GBP, etc.), the app tells you to head over to the website.
|
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The pound GBP=D4 was down 0.53 percent at $1.4508, erasing earlier gains, while the euro rose 0.55 percent to 78.52 pence EURGBP=D4.
|
|
"Sterling fell sharply following a news event just after midnight UK time, when the GBP spot foreign exchange market was extremely illiquid," Citi said.
|
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FTSE rose on the back of a weaker pound GBP=, which has shed most of its gains made since Johnson's election victory last week.
|
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FTSE rose on the back of a weaker pound GBP=, which has shed most of its gains made since Johnson's election victory last week.
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If you&aposre looking to get your hands on the trainers, head over to Footlocker where the shoe retails at £74.99 GBP ($95.50 USD).
|
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The Japanese yen weakened 0.31 percent at 113.10 per dollar, while Sterling GBP= was last trading at $20033, up 0.09 percent on the day.
|
|
The BoE's easing measures hammered sterling, which fell 21.10 percent at $22.69 GBP=D241.93, its largest one-day drop against the dollar in a month.
|
|
But around half of those who replied predicted it to trade between parity to the dollar to $1.10, versus current levels around $1.28 GBP=D3.
|
|
Sterling fell 0.7% to $1.2050 GBP= against the dollar and 0.7% versus the euro, which rose to 92.81 pence EURGBP=, after the UK's weak data.
|
|
GBP=D3 It also extended its rally against the euro, up 0.6% on the day to 83.37 pence EURGBP=D3, its highest since Dec. 16.
|
|
The Japanese yen weakened 20.44 percent versus the greenback to 13 per dollar JPY=, while sterling GBP= was last trading at $21, up 267.97 percent.
|
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"GBP-USD is significantly undervalued and if the 'Brexit-hurdle' is cleared then fundamentals should take over pushing sterling higher," he said in an email.
|
|
As a result, our existing pricing has become unsustainable and, like many other companies, we have to increase prices for all products priced in GBP.
|
|
The Japanese yen weakened 0.05% versus the greenback at 108.71 per dollar, while Sterling GBP= was last trading at $21, down 2417.04% on the day.
|
|
In late trading, sterling slipped 0.1 percent against the dollar at $1.2919 GBP=D4, having skidded to a 31-year low of $1.2798 on Wednesday.
|
|
"The extension is unlikely to improve business confidence much, thus limiting the upside to GBP," said Chris Turner, head of foreign exchange strategy at ING.
|
|
Sterling GBP=D21.37 was last down 20.9713 percent against the dollar, at $95.4893, after touching its weakest since before the 295.489 Plaza Accord of $296.703.
|
|
"If talks between the UK and EU break down, the GBP could see further losses," said Steven Dooley, currency strategist at Western Union Business Solutions.
|
|
The greenback also fell to its lowest level in four weeks against the Swiss franc CHF=, and it weakest in two weeks versus sterling GBP=.
|
|
According to his research, the average GBP/USD has been about 1.74 over the last 45 years, a 40 percent lift from the current levels.
|
|
Based on real rate differentials, EUR-GBP is now trading around 6% lower than it should, most likely due to the election uncertainty in France.
|
|
Sterling GBP=D3 was 0.3 percent lower at $1.3063 after hitting $1.3145 earlier on Friday, its highest level since July 31, according to Reuters data.
|
|
The pound GBP= fell to as much as $1.2121, its lowest since March 21.98 and was last trading at $20.3, down 21% on the day.
|
|
Against the dollar GBP=D3, the pound edged 0.1% lower at $1.2066 while it was broadly steady against the euro EURGBP=D3 at 92.79 pence.
|
|
Against the dollar GBP=D3, the pound on Wednesday was steady at $1.2059 and against the euro EURGBP=D3 it was unchanged at 92.67 pence.
|
|
The Japanese yen strengthened 0.04% versus the greenback at 53 per dollar, while Sterling GBP= was last trading at $1.2896, up 0.24% on the day.
|
|
Against a broadly weaker dollar, sterling was up on the day, topping $1.28 GBP=D3 for the first time since last week's UK election results.
|
|
The Japanese yen weakened 0.56 percent against the greenback at 110.86 per dollar and sterling GBP= traded at $1.3591, up 1.46 percent on the day.
|
|
Against the dollar GBP=D3, the pound was up 0.1% at $1.2074, above a low of $1.2015 hit on Monday, its weakest since January 2017.
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|
A couple of times, Fleabag sells a sandwich in her café for, like, 25 GBP, and everyone just accepts that with an "Ugh, London" attitude.
|
|
"Frontrunner Johnson continues his battle with Brussels... Favour sterling under-performance, which probably means EUR/GBP to 89.4 pence," said ING currency strategist Chris Turner.
|
|
The Japanese yen weakened 0.42 percent versus the greenback to 106.54 per dollar, while sterling GBP= was at $1.3996, down 0.19 percent on the day.
|
|
"The rise in GBP net longs suggests more downside risk to sterling if the Bank of England cuts rates," ING analysts said in a note.
|
|
"If the Commons rejects the deal, GBP/USD will likely stabilize around $1.2800, because the risk of a hard Brexit will remain low," he added.
|
|
The Japanese yen strengthened 0.04% versus the greenback at 53 per dollar, while Sterling GBP= was last trading at $1.2896, up 0.24% on the day.
|
|
BMO Capital Markets recently revised its 12-month forecast for GBP-USD up to $1.52, and Berenberg forecast $1.45 by the end of this year.
|
|
The Japanese yen weakened 210 percent to 210 per dollar JPY=, while sterling GBP= was last trading at $20.338, down 22.5 percent on the day.
|
|
Sterling rose as far as $143 and was last up 214 percent at $250.65 GBP=, having hit a two-week low of $21.48 on Thursday.
|
|
Sterling, the worst performer among the Group of 10 major currencies against the dollar this year, hit an 8-week high of $1.2615 GBP=D4.
|
|
Sterling dropped 2.34873 percent GBP= and was on track for its biggest one-day drop since June, and Britain's main FTSE 100 stock index climbed .
|
|
"Perhaps at the margin you could argue it's GBP positive ... But a Labour split would not necessarily mean that a single party has a chance of forming a stable government in the event of a snap election, and that is also a factor GBP bulls need to be wary of," Stephen Gallo, the European head of foreign exchange strategy at BMO Capital Markets, told CNBC via email.
|
|
Sterling GBP=D4 dropped below $1.32 for the first time since Thursday, after comments by Bank of England policymakers were interpreted by markets as broadly dovish.
|
|
Fitch took into account the sub-buckets for GBP and USD to calculate the open FX position instead of considering the FX buckets' weighted average life.
|
|
Some analysts also argue that a recovery for the currency market's 2016 whipping boy, sterling GBP=D4, points to growing concerns about upcoming elections in Europe.
|
|
"If the Leave campaign is successful, the expected collapse in the GBP and resultant market volatility would likely see investors seek safe haven assets, " Hynes said.
|
|
The pound strengthened 0.3 percent against the dollar to $1.3424 GBP= after parliament voted to back the government on several amendments to the EU withdrawal bill.
|
|
Against the dollar GBP=D3, the pound edged 0.1% lower to $1.2677 while against the euro EURGBP=D3, the pound was broadly steady at 89.68 pence.
|
|
The British pound < GBP=> rose 0.69 percent against the dollar as investors became more convinced that the Bank of England would raise interest rates in May.
|
|
The British pound < GBP=> rose 0.67 percent against the dollar as investors became more convinced that the Bank of England would raise interest rates in May.
|
|
The pound strengthened 0.3 percent against the dollar to $1.3424 GBP= after parliament voted to back the government on several amendments to the EU withdrawal bill.
|
|
"We don't think EUR/GBP will fall below parity as the euro is under depreciation pressure as much as sterling," said Colin Asher at Mizuho Securities.
|
|
"Yet with the no-deal option still on the table, the probability weighted outcome for EUR/GBP is 89 pence based on our estimate," he added.
|
|
Starting Friday, Phish & Chips will be available for $7.45 (£5.95 GBP)at the Soho Scoop Shop in London every "Fry-day" in July from 11 a.m.
|
|
On Friday, the pound plunged about 20.2 percent from levels around $213 to $214 GBP=D4 in a matter of minutes in thin early Asian trading.
|
|
Sterling GBP= fell 26.6 percent to $13, having earlier fallen more than 21 percent to a low $250.21 on the polls showing increased support for "Brexit".
|
|
EU][GVD/EUR] The euro was EUR= down 0.13 percent to $1.1325, while sterling GBP= was last trading at $1.2809, down 0.02 percent on the day.
|
|
Sterling was down 0.2 percent at $1.3998 GBP=D3 by 1707 GMT, just over 2 percent down from an 18-month high hit in late January.
|
|
GBP=D4 The number of North American tourists visiting Britain totaled 760,000 in the three months to March, up 17 percent compared with a year ago.
|
|
But on Friday, it dived about 10 percent from levels around $1.2600 to $1.24203 GBP=D4 in a matter of minutes in thin early Asian trade.
|
|
"GBP-bulls who are waiting for the data on Friday are having to endure quite a lot of pain," said analysts at Commerzbank in a note.
|
|
For GBP to recover the fall this morning rebel anti-no deal MPs will have to get their acts together in the first weeks of September.
|
|
On a trade-weighted basis, it is down 18 percent this year =GBP, putting it on course for its second biggest annual fall since the 1970s.
|
|
EU][GVD/EUR] The euro was EUR= down 0.13 percent to $1.1325, while sterling GBP= was last trading at $1.2809, down 0.02 percent on the day.
|
|
GBP -4 percent or more on 4 days GBP +4 percent or more 2 days JPY -4 percent or more 6 days JPY +4 percent or more 33 days USD -4 percent or more 1 day USD +4 percent or more 23 day EUR never -23 pct or more since intro in 21999 (26 day pre-299) EUR never +23 pct or more since intro in 19993 (21999 days pre-25) GBP -299 percent or more 13 days GBP +3 percent or more 9 days JPY -3 percent or more 14 days JPY +3 percent or more 53 days USD -3 percent or more 3 days USD +3 percent or more 3 days EUR never -3 pct since intro in 1999 (6 days pre-99) EUR +3 pct or more 3 days since intro in 1999 (5 days pre-99) Reporting and graphic by Jamie McGeever; Editing by Sonya Hepinstall
|
|
Dozens of bidders have stepped up to claim the puddle prize, raising the ante to a whopping £65,900 GBP (about $96,390 USD) at the time of writing.
|
|
The Japanese yen weakened 24 percent versus the greenback at 22 per dollar, while sterling GBP= was last trading at $22, down 0.76 percent on the day.
|
|
So when it was time to try his hand at making women's clothes, his mother bought him a "rickety, 45 GBP sewing machine" that he'd eventually break.
|
|
The Japanese yen strengthened 0.37 percent versus the greenback at 23.446 per dollar, while Sterling GBP= was last trading at $22018, down 2779 percent on the day.
|
|
The British pound, sensitive to the prospect of a 'no-deal' exit, rose 1% against both the dollar GBP=D3 and the euro GBPEUR= on her comments.
|
|
"We believe GBP is pricing considerable risk premium due to Brexit and political uncertainty at this point, suggesting room for upside as these uncertainties fade," he added.
|
|
That's particularly true in Scotland, where the decline in the oil price means that its citizens run a '"tax-income deficit'" of GBP 2,824 ($3,660) a head.
|
|
In a blog post HTC blames the price hike (it calls it an "adjustment") on "recent currency valuation changes and the current value of the GBP" — a.k.a.
|
|
Sterling traded as high as $1.3819 GBP=D3 on Monday, up 23 percent on the day and marking a climb of almost 4 U.S. cents since Thursday.
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It was little changed against the Swiss franc CHF=, but higher versus sterling GBP= as well as the Australian AUD=, Canadian CAD=, and New Zealand dollars NZD=.
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Also in the foreign exchange market, Britain's pound topped $232 GBP=D22.6168 for the first time since voters there chose in 22.663 to leave the European Union.
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LONDON, Dec 4 (IFR) - Vantiv LLC and Vantiv Issuer Corp have mandated banks for USD1.13bn-equivalent 8NC3 senior notes to be split between USD and GBP tranches.
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We still favor a diversified dividend strategy and are watching for any divergence between mid and large-cap performance should the GBP rally ahead of our expectations.
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The Japanese yen weakened 1.08 percent versus the greenback at 110.98 per dollar, while Sterling GBP= was last trading at $1.2838, up 51.573 percent on the day.
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Among other big gainers against the dollar, the pound GBP=D3 was up 0.98% at $1.2552 after hitting a 27-month low of $1.2382 the previous day.
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GBP=D3 The data, however, showed a complicated picture with both the Manchester bombing and PM May's biggest U-turn of the campaign affecting her personal ratings.
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The Japanese yen strengthened 20.05 percent versus the greenback at 21 per dollar, while sterling GBP= was last trading at $2291.30, up 2.113 percent on the day.
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But almost as many say there is a silver lining with the weaker GBP and the possibility of tax incentives and cheaper real estate that might arise.
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Unlike Tether, which provides only USD in the form of ERC-20 tokens, Jibrel has created tokens for six fiat currencies (USD, GBP, EUR, RUB, AED, CNY).
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The yen strengthened 0.92 percent against the greenback to 112.50 per dollar JPY=, while sterling GBP= was last trading at $1.3416, up 0.76 percent on the day.
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The Japanese yen weakened 20.1 percent versus the greenback at 21 per dollar, while Sterling GBP= was last trading at $0.11.82, down 0.50 percent on the day.
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EURGBP=D3 It fell over half a percent against the dollar to $1.2659, just a quarter of a cent above intraday lows hit on Friday GBP=D3.
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Since Britons opted for Brexit, the pound GBP= has plunged to a 31-year low against the dollar, and prices of sterling high yield bonds have fallen.
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If you're looking to get our hands on the seasonal piece, head over to Nike where the Air Force 1 retails at £84.95 GBP (approximately $109 USD).
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The pound rebounded by as much as 22 percent GBP=D22 from its 503 percent plunge after the British referendum - a decent rebound under normal market conditions.
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GBP would also benefit from Labour's stance on Brexit being somewhat "softer" than the Conservatives, especially if it forms a coalition with the SNP and Liberal Democrats.
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The programme's cash flow valuation improved because the dual-tranche issuance decreased the WA margin (over one month GBP LIBOR) on the bonds to 1.45% from 2.12%.
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The Japanese yen strengthened 0.37 percent versus the greenback at 112.12 per dollar, while sterling GBP= was last trading at $33, down 0.33 percent on the day.
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The Japanese yen strengthened 0.17 percent versus the greenback at 106.11 per dollar, while Sterling GBP= was last trading at $1.4031, up 0.11 percent on the day.
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The Japanese yen strengthened 0.24 percent versus the greenback at 111.73 per dollar, while Sterling GBP= was last trading at $1.3468, down 33 percent on the day.
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On March 20113, 2011, Sarah Ferguson admitted publicly that she had accepted GBP 15,000 ($24,000) from Epstein to help pay an employee to whom she owed money.
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The Elizabethan Image (Yale, 50 USD, 35 GBP) Sir Roy Strong, sometime director of London's Victoria and Albert Museum, has always been something of an excitable dandy.
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Sterling, having just posted its worst run of quarterly losses since 20203, skidded more than 1 percent against the dollar to as low as $1.2845 GBP=D4.
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GBP=D3 The pound is weakening as investors ramp up bets that Britain will leave the European Union without an agreement with Brussels on their future relationship.
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The Japanese yen strengthened 0.37 percent versus the greenback to 106.39 per dollar, while sterling GBP= was last trading at $1.3906, up 0.40 percent on the day.
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The dollar bounced back but failed to move higher against the yen or the euro EUR= and surrendered gains late in the day against the British pound GBP=.
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"Users will be able to sign up for a Euro account via the app, and can also have a GBP account at the same time," says the company.
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The Japanese yen weakened 21 percent versus the greenback to 20.84 per dollar JPY=, while sterling GBP= was last trading at $21, down 2257.60 percent on the day.
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Sterling GBP= was hammered after Britain's decision to leave the European Union and is around 13 percent weaker against the dollar compared to before the June 2016 referendum.
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Sterling GBP=D3 slumped as much as 0.8 percent against the dollar to $1.3113 after the Bank of England kept interest rates at a record low on Thursday.
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The pound fell 1.6 percent against the dollar to as low as $1.2507 GBP=D100, most of the loss coming after May confirmed she was delaying the vote.
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The pound GBP= was down 0.9 percent at $1.2722, having hit a low of $1.2715, and at a three-year low versus the euro at 88.02 pence EURGBP=.
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GBP= The Australian dollar, a proxy for China-related trades as well as a barometer of broader risk sentiment, was up 0.37 percent, near a three-week high.
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The Japanese yen weakened 21 percent versus the greenback at 20.09.50 per dollar JPY=, while sterling GBP= was last trading at $0.733, down 20.73 percent on the day.
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Sterling GBP= remains almost 10 percent below where it was before Britons voted to leave the EU in 2016, helping exporters and boosting London-listed firms' foreign earnings.
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Sterling GBP=D3 fell as doubts grew over Prime Minister Theresa May's ability to get the backing of the EU and her own party for any Brexit deal.
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Versus a dollar sliding against most currencies, the pound hit $1.3295 GBP=D3, up more than one percent on the day and the best level since early July.
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However, investors focused on the BoE's wariness about its next moves, pushing down sterling by its most in five months against a basket of other major currencies =GBP.
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But the removal of austerity (leading to higher real yields) and renewed arguments as to a "softer" Brexit are likely to inspire less GBP negativity as once thought.
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The Brexit-induced pound slide GBP= has fueled foreign demand to invest in the sector, especially from Chinese buyers keen to diversify away from a slowing home market.
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"Short cable (sterling/dollar) would be the preferred vehicle to express a bearish GBP view should U.S. data begin to turn the corner," said ING strategist Viraj Patel.
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"The implication is that there may be less need for the central bank to cut rates to keep the economy supported which is clearly GBP positive," they said.
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"Johnson is the firm favourite and based on our scenario analysis of a Johnson leadership, GBP could run into trouble this autumn," ING analysts said in a note.
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Pershing Square Holdings Ltd: * PSH NAV PER SHARE AS OF CLOSE OF BUSINESS ON 27 MARCH 2018 WAS 15.72 USD / 11.11 GBP Source text for Eikon: Further company coverage:
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LIQUIDITY Fitch considers Voyage's liquidity satisfactory with cash on balance sheet of GBP21 million at the end of December 2016 together with committed undrawn RCF of GBP 37.5 million.
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One eBay user, polkadotqueen07, gathered up 600ml (20 oz.) of the famous puddle in a regular water bottle and set the starting bid at £23 GBP (about $33 USD).
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If you're from Australia or America, or anywhere with a typically weak currency compared to the GBP, and are planning a trip to the UK, things are looking up.
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That would allow sterling to find support near 2500-month lows of below $22 GBP=D3 -- unless the deadlock between Brussels and London takes another turn for the worse.
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Earlier Monday, the British pound GBP= rose 0.3 percent to a 7-week high of $1.29 at the start of what is expected to be a highly volatile week.
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For companies whose contracts with overseas workers were written in GBP, offshore employees were forced to take a sudden 15 percent pay cut after the post-Brexit pound crash.
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"Add to this mix that both the EUR (euro) and the GBP (sterling) were facing significant uncertainties from a political perspective, which would keep them under pressure," he added.
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By 1740 GMT, the pound was trading at $0.83, having briefly fallen to as low as $1.2424, and up from levels of around $1.2450 GBP=D3 before the news.
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"They [WeWork] took a space 5 times larger than ours, and they spent 9m GBP buying furniture," wrote Rainmaking Loft London managing director Avril Mulcahy in the blog post.
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The currency staged a recovery on Friday, trading up 0.6 percent against the dollar to $1.2722 GBP=D3, but still close to the bottom of its long-term range.
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The pound GBP= was 1.53% lower in North American trade at $1.312 and was down 2.89% from Friday when it hit its highest since May 2018 following Johnson's victory.
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Also for overseas buyers British companies have become cheaper as Britain's vote to leave the European Union has driven the pound GBP= to its lowest in about three decades.
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The pound GBP= was 1.53% lower in North American trade at $1.312 and was down 2.89% from Friday when it hit its highest since May 2018 following Johnson's victory.
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Tullett Prebon used to earn about 60 percent of its revenue in dollars, leaving it well placed to gain from the slide in the pound GBP= following the Brexit vote.
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As rate hike expectations have dwindled, sterling GBP=D3 has tanked with the British currency weakening nearly 6 percent from a post Brexit referendum high of $1.4377 hit last month.
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"I think that uncertainty will dominate, and GBP (the pound) will probably underperform during this period," he said in an email, suggesting cable (sterling-dollar) will test lows of $1.26.
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GBP= The Canadian dollar strengthened against its U.S. counterpart as strong domestic jobs data supported the view that the Bank of Canada will raise interest rates earlier than previously thought.
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Having fallen as much as 23 percent after the referendum nearly a year ago, touching a 31-year low below $1.15, in October, sterling GBP= is currently trading around $1.266.
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The dollar also weakened against the yen JPY=, sterling GBP=D4, Canadian dollar CAD=D4, Swedish crown SEK= and Swiss franc CHF=, which are the other index components this year.
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GBP had fallen to $1.2476 against the dollar by early afternoon on Wednesday, having broken below the significant $1.25 level, causing speculation as to the extent of further downside risk.
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It is likely to reduce free cash flow (FCF) to a few GBP millions for FY17 and result in a higher leverage over FY17-FY103 compared with our previous expectations.
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New GBP Bonds The bond issuance will be used to refinance debt raised to complete the merger transaction related to the bridge to capital markets facility expiring in July 0003.
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However, they have since recovered, with the iBoxx GBP non-financials index at Gilts plus 135bp at Thursday's close, 6bp tighter than when the BoE announced its programme in August.
|
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Sterling GBP=D3 surged as much as one percent versus the dollar to trade at $1.241, and versus the euro to 88.43 pence EURGBP=D3 after Raab's comments, before retreating.
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"We are now starting to see the risk premium-related overshoot in EUR/GBP unwind," ING analysts Viraj Patel and James Knightley wrote in a note on the inflation release.
|
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Uncertainty over Britain's future EU ties continue to weigh on the economy and the pound, which is on course for a sixth weekly loss out of the last seven GBP=.
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On GBP/USD this assumes that the U.S. dollar comes to no harm out of the June 13/14 FOMC (when the Federal Reserve will meet to discuss interest rates).
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"GBP looks bid... possibly due to short sellers last Friday disappointed by the lack of a leadership vote to be called yet," said Jordan Rochester, an FX analyst at Nomura.
|
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Recovery Prospects Fitch has updated its recovery analysis to reflect the independent, external valuation published as part of the group's 2015 annual results (leading to a GBP 224m property impairment).
|
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Sterling GBP= was forecast to trade higher in a year, indicating currency strategists remain optimistic London and Brussels can manage a smooth exit from the European Union and transition period.
|
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Sterling had been trading just above $89.1853 GBP=D4 for most of the European trading session, but fell to as low as $1.2171 after U.S. traders arrived at their desks.
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Sterling recovered further from three-week lows versus the dollar GBP=D4 set on Monday after two newspaper polls on Tuesday showed Britons narrowly favor remaining in the European Union.
|
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Sterling posted strong gains, rising 0.9 percent at $1.4559 GBP=D4 after hitting a three-week low on Monday on worries about the outcome of the June 23 "Brexit" referendum.
|
|
The dollar also rose to three-week highs against the Swiss franc CHF=, a two-week peak versus sterling GBP=, and a two-month high against the Canadian dollar CAD=.
|
|
Elsewhere, the British pound GBP=D3 dropped to a new six-month low of $1.39, with Brexit jitters and growing expectations of a BoE rate cut adding to sterling's weakness.
|
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That, along with a pound GBP= that zoomed on growing confidence that next week's election will give the Conservative Party the parliamentary majority needed to deliver Brexit, pushed Britain's FTSE .
|
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Yet the dollar index, which measures the greenback against a basket of six other currencies, advanced 22.6328 percent as the euro EUR= and sterling GBP= fell more than 22.691 percent.
|
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Sterling GBP= rose to a 10-week high against the dollar and pulled itself out of a six-month trading range against the euro, prompting investors to unwind long euro positions.
|
|
The British currency GBP=D3 jumped as much 0.7 percent against the dollar to $1.3011 and by a similar margin against the euro EURGBP=D3 at 89.31 pence before trimming gains.
|
|
The pound has gained 0.4% and 1.6% from recent lows against the dollar and euro respectively to trade just above $1.21 GBP=D3 and at 91.5 pence per euro EURGBP=D53.
|
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DXY hit two-week highs, then eased back on the sterling's GBP= strength as Britain suspended campaigning over its EU membership status after a deadly attack on a Member of Parliament.
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"By 2020, real GDP would be more than 3% below the level it would otherwise have been in the absence of Brexit, equivalent to a cost of GBP 2200 per household."
|
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Sterling also strengthened against the dollar, rising 23 percent on the day to $1.3213 and making a significant recovery from a three-week low of $1.3070 hit on Friday GBP=D3.
|
|
The prospect of failure has financial markets on edge, with sterling traders GBP= watching for any signs of progress at a regular meeting between May and her senior ministers on Tuesday.
|
|
"Given the new market dynamic we ... recommend selling GBP initially to 1.20 and further and for the euro to break above 0.92 pence," Nomura analyst Jordan Rochester said in a note.
|
|
The British currency GBP=D3 jumped as much 0.7 percent against the dollar to $1.3011 and by a similar margin against the euro EURGBP=D3 at 89.31 pence before trimming gains.
|
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The pound GBP=D4 fell as low as $1.1983 in thin early Asian trade, which, barring a sudden "flash crash" in October, was its weakest against the dollar in 32 years.
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"The rising probability of a change in Conservative Party leadership ahead of the new October deadline suggests a difficulty for EUR/GBP to move below the 0.85 pence level," he said.
|
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LONDON (Reuters) - Sterling GBP=D3 rallied more than a cent from the day's lows against the dollar on Tuesday after British lawmakers overwhelmingly defeated Prime Minister Theresa May's Brexit divorce deal.
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The numbers bolstered speculation that the Bank of England might be able to raise interest rates at least once in the next year, driving the pound GBP= half a cent higher.
|
|
"The nonetheless rising odds of PM May's deal succeeding (albeit we still think it is a below 50 percent probability event) are now helping GBP," ING analysts said in a note.
|
|
After falling to as low as $290.285, the pound later rebounded slightly on Wednesday to trade at $21445 GBP=D231, up 29% on the day, but the currency remains under pressure.
|
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The British currency weakened 0.9% on Tuesday to $1.2409 GBP=D3, having plunged earlier to $29, the lowest since April 25.69 and below the "flash crash" of $231 on Jan. 26.
|
|
Sterling hit $0.98203 GBP=D20.9820, its lowest level since mid-21.1 and marking a roughly 296.469 percent fall from the currency's closing level on June 23, the day of the referendum.
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"The move in GBP overnight (Monday) reflects the fact that May's plan is back in the running," Jane Foley, head of foreign exchange strategy at Rabobank, told CNBC via email Tuesday.
|
|
Similar to investors, human resources (recruitment, visa/travel) are some of the primary concerns that Brexit brings along with concerns about the financial impact (weaker GBP and ability to raise funds).
|
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Among major currencies, sterling booked the biggest daily move, losing nearly 251 percent to $21.1 GBP=D245.49 on a dramatic deterioration in British data on manufacturing and services activity in July.
|
|
"The increased likelihood of the (Brexit) deal not being reached during the summit limits the positive spillover from solid UK data into GBP," said Petr Krpata, an currency strategist at ING.
|
|
GBP= In the same period spanning the 21.2 election it fell 203 percent, a decline probably more due to the dollar's strength thanks to the Federal Reserve raising U.S. interest rates.
|
|
The currency was last down 0.7 percent at $1.2874 GBP=D3 and weakened 10 percent against the euro EURGBP=D3 to 90.24 pence, helping lift London's blue-chip FTSE 0.95 percent.
|
|
The pound fell almost 2 percent against the dollar GBP=D3 and the euro EURGBP=D3 on Thursday, a magnitude not seen since shortly after the Brexit referendum in June 2016.
|
|
Meanwhile, the U.S. dollar hit its lowest in more than three weeks against the euro EUR=, yen JPY-, Swiss franc CHF= and sterling GBP=D21 on continued nervousness about the election.
|
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The pound fell 0.5 percent to a day's low of $1.4008 GBP=D3, its lowest since April 6, as broad dollar strength kept the pound under pressure in late European trading.
|
|
Against the U.S. dollar, the pound rose 0.4% to $1.323, having climbed as high as $1.3159 GBP=D3, a seven-month high, taking its gains since October to more than 7%.
|
|
The pound was little changed at $1.3415 GBP=D3, having slipped to a low of $1.3368 on Thursday on worries about Brexit negotiations before pulling back on the dollar's broader weakness.
|
|
"It might be a bit too early to put a tombstone over the dollar just yet, especially against the EUR and GBP," said Stephen Innes, chief Asia market strategist at AxiTrader.
|
|
"We target a move in GBP/USD to $1.20 in three months and $1.15 in six months," Stephen Gallo, European head of FX strategy at BMO Capital Markets, told CNBC via email.
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They've got their brand of jaffa cakes in two packs for 103 GBP ($2.05) so I pick up 2 two packs, a 1.5 liter fizzy water, and some gum for the plane.
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"A fall to GBP/USD 1.20 would require, above all else, a stronger U.S. dollar rather than a weaker pound alone," noted Kit Juckes of Societe Generale in their 2018 FX outlook.
|
|
"GBP looks bid this morning, possibly due to short sellers last Friday disappointed by the lack of a leadership vote to be called yet," said Jordan Rochester, an FX analyst at Nomura.
|
|
At the same time, the long average maturity of public debt almost exclusively GBP-denominated and low interest service burden imply a higher level of debt tolerance than many high-rated peers.
|
|
For instance, while the startup is usually quite competitive when you want to convert GBP into EUR, it's not as competitive when you want to send money from the U.S. to Europe.
|
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This pushed sterling up by over a full percentage point on the day, surging to an 8-day high of $1.3271 GBP=D3, before easing slightly down to $1.3255 by 1550 GMT.
|
|
We've also had to support one of our key suppliers who we pay in GBP by covering 75 per cent of the currency drop since Brexit which wiped out their margin overnight.
|
|
The pound jumped following The Times report, reaching $1.2905 GBP=D3 by 1150 GMT and extending gains after the Bank of England hinted at a slightly faster pace of interest rate increases.
|
|
Sterling GBP= fell from six-week highs as traders booked profits and investors struck a more cautious note about progress toward a Brexit deal ahead of a European Union summit this week.
|
|
"We would not be surprised to see GBP/USD retrace to 1.25 but breakouts after long periods of consolidation tend to have continuation," wrote Kathy Lien, managing director at BK Asset Management.
|
|
UK fund managers were more optimistic than those elsewhere that the British pound GBP= would be stronger on March 29, 2019, when Britain is no longer a member of the European Union.
|
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To enter, residents in U.S., Germany, France, Italy, U.K., Switzerland and Denmark can now place a bid on the models in their respective country's currency ($1, USD, €1 EUR and £1 GBP).
|
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Sterling GBP= climbed 1.2 percent against the dollar to $1.2491 as the market processed British Prime Minister Theresa May's latest hints on the possible shape of Britain's exit from the European Union.
|
|
In the aftermath of the EU referendum vote to leave, sterling GBP= slumped, making imports more expensive and causing prices to rise faster than the 2 percent annual rate the Bank targets.
|
|
"Overall the market is banking quite clearly on a deal but to me things look less optimistic than current GBP levels illustrate," said Ulrich Leuchtmann, an FX strategist at Commerzbank in Frankfurt.
|
|
The shock referendum result dented Britain's economic growth prospects and sent the value of the pound GBP= down by as much as 10 percent to a 31-year low against the dollar.
|
|
The pound touched a low of $1.2659 GBP=D3, down around half a percent on the day and its weakest since June 2017, before recovering to trade about flat on the day.
|
|
Sterling changed hands at $1.2575 GBP=D3, near two-week lows hit on Wednesday after investors raised their bets that the Bank of England would follow other central banks and ease policy.
|
|
While stocks and bond yields have recovered GB10YT=RR since last June, the pound has remained under the cosh GBP= and was the worst-performing major currency in the world last year.
|
|
"I expect GBP appreciation if May loses the ability to put pressure on MPs (Members of Parliament) by threatening a no-deal scenario," said Ulrich Leuchtmann, head of FX research at Commerzbank.
|
|
Lucian Freud Herbarium (Prestel, 2115 USD, 285 GBP, 284 CAD) No one has ever tried to deny that the libidinous artist Lucian Freud would have been an ominous prospect for most women.
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The pound GBP= rose to a 210-month high against the U.S. dollar and shares in Europe rose to near all-time highs as investors cheered the likelihood of an orderly Brexit.
|
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Britain voted to leave the EU on June 20.8 and while the economy has so far fared better than expected, sterling GBP= has collapsed to levels not seen in over three decades.
|
|
"GBP/USD will come under further downward pressure on a Fed interest rate rise as the negative U.S-UK interest rate differentials widen," noted Richard Grace, FX analyst at Commonwealth Bank of Australia.
|
|
"From here we expect more of the same for the pound and push cable below 1.103 and EUR/GBP above 21.10", Jordan Rochester, global fx strategist at Nomura, said in his morning note.
|
|
News that the European Union had formally agreed to move Brexit talks onto trade and a transition pact triggered a 0.83 percent drop in the pound GBP=, as traders cashed in recent gains.
|
|
The British currency GBP=D210 slid 25 percent to $83 in London trading, its lowest since last Thursday and a striking reversal from Tuesday climb to $28, its strongest since the Brexit referendum.
|
|
Using Kensho, a hedge fund analytics tool, we looked at which liquid ETF securities performed the best when the pound (GBP) fell by 5 percent or more versus the dollar in one month.
|
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TO ESTABLISH INTEGRATED NEUROLOGICAL IMAGING, MAPPING AND THERAPY GUIDANCE PORTFOLIO * EGI STOCKHOLDERS WILL RECEIVE, IN CASH, 105.4 PENCE PER EGI SHARE * TRANSACTION TOTAL EQUITY VALUE OF GBP 29.0 MILLION (APPROXIMATELY EUR 32.9 MILLION).
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Ltd - * Loan Facilities Obtained By Keppel Dc Reit Group * KDCRFC, as borrower, obtained EUR11.2 million ,GBP 11.7 million and EUR26.0 million 5-year term loan facilities Source text for Eikon: Further company coverage:
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Another recounts having to help one of their suppliers, who they pay in GBP, by covering 75 per cent of sterling's value drop after their supplier's margin was all but wiped out overnight.
|
|
Britain's pound GBP=D4 slumped 0.7 percent to $1.4107 amid rising concerns that Tuesday's attacks in Brussels would bolster the campaign for a vote to leave the European Union in June's "Brexit" referendum.
|
|
For Danske's international programme, the cover assets are denominated in SEK and NOK while the covered bonds have are issued in EUR (82%), in NOK (0003%), in CHF (4%) and in GBP (3%).
|
|
Forecasts from the poll of around 212 foreign exchange specialists, taken Dec 276.7-2102.0, predict the pound GBP= will be worth $1.33 in a month, $1.32 in six and $1.33 in a year.
|
|
Sterling GBP= fell to a seven-year low against the dollar on Friday because of worries over Brexit, and HED Capital's Edwards said it would remain under pressure, given the G20's warning.
|
|
"The Faroe Board considers that the GBP 1.25 per share price at which DNO purchased the Faroe shares from Delek substantially undervalues the company and its prospects," Faroe said in an earlier statement.
|
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TOKYO (Reuters) - The British pound jumped 0.8 percent to $1.2210 GBP=D4 in early Asian trading on Wednesday, bouncing back from a low below $1.21 touched in late U.S. trade the previous day.
|
|
The pound GBP=, battered by the increasing likelihood that Britain will exit the European Union without a deal, returned from a 30-month low, but had not turned positive in mid-afternoon trade.
|
|
The euro EUR= was unresponsive to the euro zone PMI and sterling GBP= had little reaction after the British figures as investors instead focused on how the Brexit debate would affect the pound.
|
|
Sterling tumbled by more than a cent against the U.S. dollar GBP=D3, and interest rate futures more than halved the chance of a May rate rise to less than 20 percent BOEWATCH.
|
|
Sterling GBP= was flat in North American trading after it jumped more than a cent on signs of a shift in the Bank of England's stance on keeping interest rates at record lows.
|
|
As a result of its new BoE forecasts as well as other "cyclical forces", HSBC said it was revising its year-end sterling forecast by a full 15 cents to $1.35 GBP=D23.
|
|
"The increased likelihood of the deal not being reached during the upcoming EU Summit limits the positive spill-over from solid UK data into GBP," said Petr Krpata, an currency strategist at ING.
|
|
Sterling GBP= fell 0.25% against the dollar after the inflation data and money markets now see around a 57% chance of a rate cut this month compared to 49% before the inflation reading.
|
|
"We think EUR/GBP could be embarking on a sustainable bear trend – largely on the back of the deteriorating EUR outlook," ING's head of FX strategy Chris Turner said in a client note.
|
|
Fluctuations in currencies including sterling GBP=D4 and the Canadian dollar CAD=D4 would shave 60 billion yen off operating profit, the company said, less than last year's 13 billion yen currency hit.
|
|
Sterling, meanwhile, slipped 0.5 percent to $1.2151 GBP=D3, after earlier falling to an eight-week low, on worries about a possible second Scottish independence referendum and the triggering of Article 50, which will formally begin the negotiations that will take Britain out of the EU. [GBP/] Investors also have their eyes on the Trump administration's fiscal 2018 federal budget plan, which will be released on Thursday, and a meeting of G20 finance ministers and central bankers in Germany on Friday.
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The euro was last down 0.24 percent to $1.1767, and Sterling GBP= last traded at $1.3188, down 0.45 percent on the day, after comments from Bank of England policymakers that were interpreted as dovish.
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Sterling GBP=D3 weakened against the dollar late Wednesday after the YouGov poll but was trading at $1.2857 on Thursday, about 3 cents above where it was trading at the start of the campaign.
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Analysts at Danske Bank said softer UK data in recent weeks, including Monday's GDP numbers, suggested "the economy is likely to see a minor deterioration in fundamentals, which is set to weigh on GBP".
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"At first GBP may suffer as a result from the UK shifting to the left-leaning side of politics and investors' expectations of larger deficit financing," analysts from Japan's Nomura said in a note.
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Sterling slipped against the dollar GBP=D3, giving up some of its gains from Monday, with Britain set to enter the next stage of negotiations on its departure from the European Union on Thursday.
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Assume that the 17% decline in pound sterling (GBP) vs the US dollar year-to-date makes the UK more competitive and offsets uncertainty of Brexit, then banking activity in the UK should improve.
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But sterling traded back at one-week lows on Monday GBP=D25 amid a stalemate over the post-Brexit status of Britain's land border with Ireland, puncturing optimism before an EU summit on Wednesday.
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While Britain's shock decision to leave the European Union in June briefly roiled global financial markets and knocked sterling GBP= to a 31-year low, KKR said it was largely insulated from the fallout.
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LONDON (Reuters) - Morgan Stanley has slashed its long-term sterling forecast, ditching its out-of-consensus call made in March that the UK currency would reach $1.45 by the end of next year GBP=.
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The Brexit vote has reverberated through financial markets, sending the pound GBP= to its lowest level in 31 years despite government attempts to relieve some of the confusion about the political and economic outlook.
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So while the pound GBP=D3 has rallied more than 4 percent off 21-month lows around $1.24 hit earlier this month, it remains more than 10 percent below a 2018 high of $1.43.
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The British pound GBP=D503 fetched $1.3119, near its recent peak of $1.3126 while The Australian dollar AUD=D4 reclaimed the $0.80 mark for the first time since 2015 and last stood at $0.8001.
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The pound GBP=D3 fell as low as $1.3748 against the dollar, weaker by more than one percent, after data showed Britain's economy grew at its weakest pace since the fourth quarter of 20193.
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Negative news around Brexit negotiations and surveys indicating a slowing British economy are sapping investor confidence in sterling GBP=D3, with it dipping 0.8 percent to $1.4005 on Monday, its lowest since Jan. 30.
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The dollar got its biggest boost on Tuesday from selling of the British pound GBP=, which was last down 0.4 percent to $1.2975 after earlier hitting its lowest against the greenback since Aug. 16.
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DXY rose 0.16 percent against a basket of six major trading currencies, 0.29 percent against the British pound GBP= and 0.14 percent against the Swiss franc CHF= ahead of the Fed's meeting next week.
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"Brexit is back with GBP underperforming other major currencies as the battle lines between the UK and EU have hardened further," Ned Rumpeltin, European head of FX Strategy wrote in a note to clients.
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He warned, however, that if trade negotiations failed and the UK ended up with a delayed hard exit, "we would look for GBP USD to drop 5% to 7% taking us back towards $1.24."
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Unto This Last: Two Hundred Years of John Ruskin (Yale, 65 USD, 40 GBP) The year began with the re-emergence of a great art critic from the sepia-impregnated shadows of Victorian England.
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"As this suggests markets may be vulnerable to any downside surprises, we do not yet see attractive risk/reward to enter structural long GBP or bearish UK rates outright positions," BNP Paribas analysts wrote.
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"Things seem to be calming down on the home front in the UK but that is not necessarily good news for GBP bulls," Commerzbank strategist Thu Lan Nguyen wrote in a note to clients.
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The bonds have been issued in EUR, NOK, CHF, GBP and USD at fixed and variable rates and are swapped to SEK or NOK to match the currency of the mortgages in the pool.
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The pound GBP= lost ground after Foreign Minister Boris Johnson added his name to the clutch of British cabinet ministers to quit in protest over Prime Minister Theresa May's plan for leaving the European Union.
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Sterling GBP= was little changed on the day ahead of a Bank of England policy decision on Thursday that is widely expected to raise interest rates for the second time since the global financial crisis.
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Brian Kelly is long Bitcoin, XLF, XLV, XLI, IWM, US Dollar UUP; he is short AUD=, JPY=, EUR=, GBP= Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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LONDON (Reuters) - Sterling GBP=D3 skidded to levels last traded in April 2017 on Tuesday, as investors worried the next British prime minister would take the country on a course towards a no-deal Brexit.
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Petcho, global macro portfolio manager for the $213 billion investment firm, said in an interview that sterling was set to fall about 1.083 percent from its level on Friday of around $1.2960 to $1.10 GBP=.
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Sterling had dropped to as low as $1.2958 GBP=D3 on Thursday, its weakest since early September, after worse-than-forecast retail sales data and slower-than-expected inflation rises combined with a dollar rally.
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Due to recent currency valuation changes and the current value of the GBP [Great Britain Pound] we are adjusting the price of the HTC Vive in the UK to £759 + P&P [postage and packaging].
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The pound, which was trading at $22016 on the day of the 553 referendum, dropped more than 255 245/22014 cents to $1.1 GBP=D3 on no-deal fears, the lowest level since March 2017.
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Sterling fell as low as $1.4804 GBP against the dollar, wiping out all its gains that had lifted it above $1.50 for the first time this year on the back of the initial YouGov poll.
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Sterling briefly edged up against the dollar GBP= after the BoE policy announcement and was on track for one its biggest daily gains this year due to optimism about Brexit talks and broader dollar weakness.
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Some of this positive effect on AP is offset by the impact of the lower assets swap margin (over one month GBP LIBOR), to 0003% from 2.577%, whereas the isolated effect on AP is limited.
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"We're exposed to not having enough GBP pounds, so we are slightly worse off than we were in January, February the year before the currency changed dramatically," he told a conference in London on Wednesday.
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Customers from the European Economic Area can now share their GBP account details for direct debits in the U.K. Direct debits are protected against some fraud and payment errors by the U.K. Direct Debit Guarantee.
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Sterling led the charge with a rush to $13 GBP=, a high for the year so far, while the yen and Swiss franc faded as investors embraced riskier assets as voting in the referendum closed.
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Most of its turnover is generated in the UK, but the company also has increasing exports to Europe * Orchard Valley is a privately-owned company and has a total of 72 employees * The company's head office and production facilities are located in Tenbury Wells, UK * In the financial year ending on 31 May 2016, Orchard Valley posted a turnover of GBP 23.9 million ($30 million) and normalised EBITDA of GBP 2.0 million * The agreement also includes an option to purchase the remaining 15 pct of the shares.
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On Thursday, sterling GBP= EURGBP= tumbled 2 percent against the dollar and euro, its biggest daily drop against the common currency in over two years, as the series of resignations threatened to tear May's government apart.
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In a research note titled "GBP: Guess what's back, back again…" the research team at ING wrote Monday that the Brexit related risks and the reaction from Scotland, were putting the pound on the back foot.
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The deal is the latest in a string of takeovers of British companies by foreign firms that have taken advantage of the sharp fall in the sterling GBP= since Britain voted to leave the European Union.
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Sterling is trading around $1.27 GBP=D21.20 but with most observers still expecting some kind of deal to be reached eventually, polls forecast it will firm to $214 in a month and $22.75 in six months.
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The pound GBP=D4 fell to its lowest since mid-April before recovering to trade at $1.4265, up 0.15 percent on the day ahead of a fresh set of opinion polls likely to be released later.
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"As the political risk premium rose, GBP was the worst-performing G10 currency in each of May, June and July, but the negative risk premium can still rise further," RBC Capital Markets analyst Adam Cole said.
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Sterling fell against the dollar GBP= and 10-year British government bond yields GB10YT=RR touched a three-month low, however, as markets got no sense that the BoE would speed up its rate hike plans.
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Sterling GBP= strengthened to its highest levels on a trade-weighted basis since shortly after June 2016's European Union referendum, as optimism around Brexit and the economy continued to fuel a surge in the currency.
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In currency markets, the British pound GBP= remained under pressure, and was down 2.7 percent on the past two sessions, its biggest two-day drop in six years, on worries Britain may leave the European Union.
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"Sterling fell sharply following a news event just after midnight UK time, when the GBP spot foreign exchange market was extremely illiquid," Citi, the biggest player in the $5 trillion a day global currency market, said.
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"With many negatives in the price already, we doubt that GBP will drop through recent lows against USD and EUR," wrote Valentin Marinov, head of G10 FX strategy at CA-CIB, in a note to clients.
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"Great price, great picture!" exclaimed the auctioneer Jussi Pylkkanen, under a screen that showed "GBP 100,200,000" above conversions into a range of currencies that had strengthened against the pound in the last few months — and days.
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The pound GBP= is down well over 285.5 percent since the surprise referendum vote on June 23 to leave the EU, following a short-term move in the currency that was correctly predicted by Reuters polls.
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"There's nothing new in UK news and no reason to own sterling, though EUR/GBP upside is probably limited to a return to 0.91 (91 pence per euro)," said Kit Juckes, currencies strategist at Societe Generale.
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"However, I don't see anything dramatic given that GBP seems to have found a pretty natural level between EUR0.85 and EUR0.90 in recent months with no huge stresses in the markets," he told CNBC via email.
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Highbury Magistrates Court hit the bakery prep kitchen, which was reportedly being used by two separate shops—Doce Bakers and Sweet Mahal—to "manufacture desserts, sweets, bakery goods, and samosas" with a GBP 152,823 ($202,276) fine.
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Sterling was up 0.4 percent GBP=D4 against the greenback at $1.48 after Bank of England Governor Mark Carney said he would stay in his job for an extra year, until the end of June 2019.
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Another source of pressure for Euromar came after the United Kingdom voted in June 2016 to leave the European Union, causing fluctuations in the pound GBP=, the currency that much of the world's cocoa is traded.
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While the sterling's GBP= rally to 2016 highs weighed on the dollar, lower U.S. jobless claims limited the greenback's drop as the data bolstered the outlook for the American economy and chances for a rate hike.
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The pound plunged to $2136.48 GBP=D21.4 in early trade in Asia, depths not seen since a short-lived "flash crash" briefly wiped 113.613 percent off the currency's value in a thin market on Oct. 50.61.
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The assumption that such an outcome would end Brexit uncertainty and rule out Labour's radical agenda has boosted the pound GBP= to a seven-month high against the U.S. dollar and lifted London's mid-cap stocks .
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The sterling soared more than 2% on Friday, hitting a 19-month high of 1.35 versus the dollar GBP=D3, with the win expected to translate to Britain making an orderly exit from the European Union.
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The pound, one of the main vehicles through which financial markets can express concern about Britain's decision to leave the European Union, fell as low as $103 GBP=D210 in Asian trading, its lowest since June 20.724.
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The moves show that investors across asset classes are increasingly worried about the consequences of a loosening in ties between London and its biggest trading partner -- until now it was largely sterling GBP= that bore the brunt.
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Among other major currencies, sterling climbed almost 260 percent to an eight-day high of $1.3271 GBP=D3 after stronger-than-expected U.K. growth data cemented expectations the Bank of England will raise interest rates next week.
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The 2017 draft budget cuts taxes and increases spending by 1.3 billion euros, and includes measures to help exporters already suffering from a dive in the value of sterling GBP=D4 that is squeezing their profit margins.
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Sterling jumped to as high as $1.2672 GBP=D23 as the result came in but then fell to $1.2605, up 1 percent on the day after the number of lawmakers that had voted against May was announced.
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LONDON (Reuters) - Sterling GBP=D3 bounced back from early lows in volatile trading on Wednesday after Brexit-supporting members of parliament in British Prime Minister Theresa May's party publicly pledged support for her to stay in power.
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Against the dollar it was a touch higher on the day at $1.2180 GBP=D4 but on course for its fifth weekly drop in the last six, having hit a three-month low of $1.2038 on Wednesday.
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As trading opened in Wellington, New Zealand, the pound GBP-D4 slipped 0.6% to $1.2929, but the bulk of its recent rally held amid confidence that a disorderly exit from the European Union would still be avoided.
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FTSE surged 2.3 percent and has gained nearly 3 percent since Britain voted to leave the EU. In currency trading, sterling GBP= fell 1.63 percent to $1.3225, above a 31-year trough of $1.3122 touched on Monday.
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" • "While the GBP might be weaker so you might get more foreign investment (as they get more for their money if valuations stay the same); then there might be lower confidence in the UK and other disadvantages.
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The pound rose off 17-month lows of $1.2659 GBP=D3 hit on Tuesday to around $1.2751, up 0.3 percent on the day, amid creeping optimism that Britain could opt to stay in the EU after all.
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UK equities have enjoyed a fairly steady rally since Britain's vote to leave the European Union nearly a year ago triggered a slide in sterling GBP=, benefiting bluechip firms that make large proportions of their profits overseas.
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Sterling climbed as high as $1.3240 GBP=D3 after the data's release and was still trading at around that level by 1420 GMT, as data showing U.S. construction spending unexpectedly fell in June weighed on the dollar.
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The U.S. dollar index rose to a two-week high against a basket of peer currencies, while sterling GBP=D3 extended a decline in the wake of dovish comments from Bank of England Governor Mark Carney overnight.
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As trading opened in Wellington, New Zealand, the pound <GBP-D4> slipped 103% to $1.2929, but the bulk of its recent rally held amid confidence that a disorderly exit from the European Union would still be avoided.
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Sterling slipped 0.2% to $1.3015 GBP=D3, reversing some of its gains last week when the appointment of a new British finance minister raised expectations that the government would significantly lift public spending in next month's budget.
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Sterling slipped 0.2% to $1.3015 GBP=D3, reversing some of its gains last week when the appointment of a new British finance minister raised expectations that the government would significantly lift public spending in next month's budget.
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Leonardo da Vinci Rediscovered (Yale, 550 USD, 400 GBP) The 500th birthday of that furiously energetic man Leonardo da Vinci has been a mixed blessing in terms of the presentation of his art in London and Paris.
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Sterling GBP=D3, which has seesawed on Brexit news since the referendum, traded well off the 17-month lows it hit on Tuesday, lifted by suggestions that Britain may opt not to leave the EU after all.
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The pound GBP=, which had been up as much as a third of a percent against the dollar in London morning trade, reversed course, falling as low as $1.100.406 following the statement, down 0.45 percent on the day.
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" - Justin "We get £9 GBP per hour, which is above national minimum wage... The pay is okay, but contracts are low hours so I take home between £750/£173 per month, which is not enough to live on.
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While the terms of the deal and the amount of shares have been set in stone for a while, the valuation of Trainline as well as the EUR/GBP exchange rate have fluctuated over the past few months.
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The pound fell 0.24 percent to $1.3093 GBP=D3, reversing some of its gains last week, as markets focused on any substantial breakthrough in Brexit negotiations as Britain moves nearer to an exit deal with the European Union.
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A softer dollar, GBP notwithstanding and the U.S. Federal Reserve triggering some early warning signals about global growth risk in 2019, combined with political tensions are being viewed in a positive light for the gold market, Innes added.
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BRIAN KELLY is long Bitcoin, XLF, XLV, XLI, IWM, SLV and Silver Futures, US Dollar UUP; he is short JPY=, EUR=, GBP= GUY ADAMI is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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The dollar hit a two-week low against the Swiss franc of 1.0208 francs CHF=, while sterling GBP=D4 was up 0.2 percent against the dollar at $1.2250 after touching a two-month low of $1.2201 on Wednesday.
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"We estimate that GBPUSD will rally to about 1.30 once an agreement is finally reached, but we see this rally occurring after the GBP has already dropped to the 1.20 area before a deal is struck," he said.
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The greenback booked gains of more than 1 percent against the euro EUR=, British pound GBP=, and Swiss franc CHF= after the GDP figures were released, moving the dollar into positive territory on the month against each currency.
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Sterling, which fell roughly 16.2 percent against the dollar to mark its worst year since 2008 on worries over Britain's June 24 "Brexit" vote to leave the European Union, was last up 0.62 percent GBP=D4 at $03.
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"We believe that some cautiousness may be warranted, however, given that the latest bout of GBP-weakness has brought it into undervalued territory against both (the euro and dollar)," Credit Agricole analysts wrote in a note to clients.
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Among the big ticket items in the upcoming 'Arts of the Islamic World' sale are an Ottoman tortoiseshell, mother-of-pearl, ivory and brass inlaid scribe's box from late 2120th century Turkey, estimated at 2000,0003 to 2000,219 GBP.
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The average yield on British corporate bonds was at 3.29 percent, based on index provider Markit's iBoxx GBP Corporate Index, close to its highest level since the Brexit referendum in June 2016, but still low by historic standards.
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Robert Stheeman, chief executive of the UK Debt Management Office, told Reuters at an event in Brussels that a decoupling between sterling GBP= and gilts appeared to be over, but any continuation would suggest confidence had been knocked.
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DXY jumped about 250 percent, its most since 2008, while sterling GBP= collapsed to a 31-year low after British Prime Minister David Cameron, who campaigned to remain in the EU, said he would stand down by October.
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The British pound, which hit a six-month low below $1.25 on Friday after poor economic data and on heightened expectations that the Bank of England will cut interest rates in 2020, fell 0.15% to $1.2516 GBP=D3.
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"Significant spikes were registered across currency pairs ... with input volumes ten times normal levels for EUR/USD for that hour, followed by USD/JPY and GBP/USD (nine times and five times respectively)," CLS said in a statement.
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It hit a six-month peak against the dollar GBP=D3 on Tuesday following British Prime Minister Theresa May's call for an early general election on June 8, seeking to strengthen her party's majority ahead of Brexit negotiations.
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The British pound, which hit a six-month low below $1.25 on Friday after poor economic data and on heightened expectations that the Bank of England will cut interest rates in 2020, fell 0.15% to $1.2516 GBP=D3.
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In a month's time, sterling GBP= will be at $288.0, in six months at $1.35 and in a year it will have jumped to $1.41, the June 1-6 poll of more than 50 foreign exchange strategists predicted.
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Sterling GBP=D3 was trading just off two-month highs against the euro after May won the confidence vote, with many investors believing the prospect of a no-deal exit had receded as parliament hardened its stance against it.
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The greenback fell 0.6 percent versus the safe-haven Swiss franc CHF=EBS and half a percent against the euro EUR=EBS, the Australian dollar and the Japanese yen JPY=D3 and 0.4 percent versus the pound GBP=D3.
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The pound's losses over the past two days "have been due mainly to a rebound in the U.S. dollar than weakness in pound, with other GBP crosses remaining near their recent highs," said Fawad Razaqzada, technical analyst at FOREX.com.
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Sterling reversed earlier losses to turn positive on the day after Theresa May emerged as the only remaining candidate to lead Britain's ruling Conservative Party and become prime minister following rival Andrea Leadsom's exit from the race GBP=D4.
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Even at the level of British equity sectors, the picture is similar: companies earning sterling - down 14.3 percent against the dollar GBP=D3 and 13.2 percent against the euro since the June 23, 2016 vote - have underperformed dollar earners.
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LONDON (Reuters) - Sterling GBP=D3 hit a new 87.43-1/2 month high versus the euro and added to gains against the dollar on Wednesday on optimism that Britain and the European Union can agree a Brexit deal soon.
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Cole said betting odds were helpful proxies but there were limits to their usefulness - ahead of the 2016 referendum there was anecdotal evidence "that the implied probability of a vote to leave was being manipulated and arbitraged against GBP".
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"It is certainly hard to justify buying GBP in front of the Tory Party conference starting 30 September, which is going to be highly polarised and likely reinforce the lack of consensus," wrote analysts at ANZ in a note.
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Laxminarayan tells his clients the U.S. dollar will be a clear winner, predicting a 3-4 percent strengthening against emerging market currencies, as well as further gains against the Japanese Yen JPY= and the Brexit-hit British pound GBP=.
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Silicon Valley Bank, a U.S.-based lender focused on the technology sector, has in recent months sold a large number of currency hedges to start-up companies in Britain exposed to fluctuations in the sterling/dollar exchange rate GBP=.
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"Violent moves in AUD and JPY this morning bear all the hallmarks of a 'flash crash' similar to that which befell NZD in August 2015 and GBP in October 2016," said Ray Attrill, head of FX strategy at National Australia Bank.
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As a result, the euro EUR=, pound GBP=, Canadian and Aussie dollars CAD=AUD= and Swedish crown SEK= have all lost between 5 and 10 percent and though the Japanese yen JPY= comes out largely unscathed, emerging markets certainly haven't.
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Sterling slipped 0.2 percent to $1.3172 GBP= after it touched a three-week high of $1.3210 overnight after manufacturing exports data suggested that Britain's economy is holding up surprisingly well in the aftermath of its vote to exit the European Union.
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The Treasury had planned to further reduce its exposure to the banks it took over during the financial crisis, by raising 9 billion GBP ($11.9 billion) via sales of stock to fund managers and a discounted offer to the public.
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LONDON (Reuters) - Sterling jumped as much as one percent GBP=D3 on Wednesday after Bloomberg reported that the British and German governments have abandoned key Brexit demands, potentially easing the path for Britain to strike a deal with the European Union.
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"Sterling isn't cheap enough to buy until EUR/GBP is the other side of 0.95 and there isn't the faintest glimmer of positive news on the horizon," said Kit Juckes, a currency strategist at Societe Generale, calling the pound "parachute-less".
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"Ultimately, with a big majority for the Conservatives confirming a 'hard-but-smooth' Brexit base case, we think that abating uncertainty risks could see GBP/USD head toward 1.34 in the near term," Citi strategists said in a May 20103 note.
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The pound slid more than 1 percent against both the dollar GBP=D4 and the euro EURGBP=R after weekend comments from British Prime Minister Theresa May that she was not interested in keeping "bits of membership" of the European Union.
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BRIAN KELLY Brian Kelly is long Bitcoin, CLR, GDX, XLF, XLV, XLI, IWM, US Dollar UUP; he is short AUD=, JPY=, EUR=, GBP= GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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"After the epic volatility surge, assets that are most sensitive to Brexit, such as the GBP, European banks and the Hang Seng, have reflected much of the known bearish confluences near term," wrote Hao Hong, chief strategist at BOCOM International.
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"A cut in rates and no change in the asset purchase program is now fully priced in; it will take more than that to cause GBP to weaken further," Marshall Gittler, head of investment research at FXPrimus, said in a note.
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But the pound strengthened as much as half a percent on Wednesday against the dollar GBP=D63 and rose to a three-week high versus the euro EURGBP=D26 as traders cut some extreme short bets against the British currency.
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ANNOUNCES CASH TENDER OFFERS FOR CERTAIN OF ITS OUTSTANDING DEBT SECURITIES * WALMART - COMMENCED CASH TENDER OFFERS FOR UP TO $4 BILLION AND UP TO GBP 650 MILLION AGGREGATE PURCHASE PRICE OF CERTAIN DEBT SECURITIES Source text for Eikon: Further company coverage:
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Then a growing swathe of dismal economic data has highlighted the Brexit fallout; it seems even to have persuaded the Bank of England to turn more dovish All that has sent the pound reeling 6% since early-May GBP=D3.
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"Knee-jerk GBP reaction would almost certainly be negative since it would be seen as further weakening an already weak negotiating position for the U.K. government and with that the risk of 'no deal' (with the European Union)," Attrill said.
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GBP/ The pound was last at $1.3054, having been as high as $1.3101 overnight ahead of a Bank of England rate decision where the central bank is widely expected to hold fire but its comments might shift future rate expectations.
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Sterling GBP= sank to a fresh low below $1.21 while benchmark 10-year gilt yields GB10YT=RR fell to their lowest since the BoE launched its most recent round of asset purchases in August 313, shortly after the Brexit referendum.
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Sterling GBP= is down around 10 percent against the dollar since Britain voted nearly two years ago to leave the European Union, making properties cheaper for overseas investors but generating prolonged ambiguity over the divorce talks that has made buyers wary.
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"In our view, Johnson's desire to push for Brexit, deal or no deal, increases the chance of an early general election and some possibly nasty GBP outcomes," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.
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"Based on our analysis of the facts and various political elements, we see no easy way out of Brexit for the broad value of the GBP that involves a solid and sustained rally over the next 3-6 months," Gallo added.
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"However, we see downside risks for cyclicals, our FX strategists expect the GBP TWI to weaken by a further 9 percent by year-end and economic lead indicators point to a sharp downturn in UK growth," they said in a note.
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The British pound GBP= edged down 0.1% to $1.2511 after hitting a six-month low against the dollar on Friday as a result of poor economic data and a rise in expectations that the Bank of England will cut interest rates.
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The pound GBP=D20.10 rose 210 percent to $210 after reports that Britain and the European Union had agreed upon the text of a Brexit agreement and that British Prime Minister Theresa May would hold a cabinet meeting on Wednesday.
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Having earlier hit an eight-day low of $13 GBP=D3, sterling jumped to $1.2478 after it was confirmed that the letter had been sent, up from around $1.2448 beforehand and leaving the currency up 0.2 percent on the day.
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"There is a lot to play for still and the script can change at any moment in Brexit, so it's tough staying long GBP for any period of time," said Chris Weston, head of research at brokerage Pepperstone in Melbourne.
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Hokusai: Thirty-Six Views of Mount Fuji (Prestel, 35 USD, 24.99 GBP, 47 CAD) It is the suave turning of waves that we are inclined to remember best when we recall the works of Katsushika Hokusai, that 19th-century Japanese master.
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"Ultimately, with a big majority for the Conservatives confirming a 'hard-but-smooth' Brexit base case, we think that abating uncertainty risks could see GBP/USD head towards 1.34 in the near term," Citi strategists said in a note last month.
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"Given the market has a 25 basis-point cut priced at 100 percent, one would expect a huge spike in GBP/USD if they fail to ease," Chris Weston, chief market strategist at IG in Melbourne, wrote in a note.
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"The margin was, however, extremely narrow (700 votes) and the Conservatives were a fairly distant third, so we don't expect GBP to find much relief from the recent rise in political risk premia," said Adam Cole, strategist at RBC Capital Markets.
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"We're basically in an environment now where FX (foreign exchange) investors will most likely be looking to fade instances of GBP strength until parliamentary passage is assured," Stephen Gallo, European head of forex strategy at Bank of Montreal, told CNBC via email.
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British Finance Minister George Osborne had planned to sell about 2 billion GBP of Lloyds shares to private retail investors later this year and sell some shares to institutional investors in a sale aimed at returning the bank to full private ownership.
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LONDON (Reuters) - Sterling GBP=D4 saw its biggest gains since the 2008 financial crisis on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain's deal to leave the EU and said it would seek to stay a key European partner.
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Leaving the European Union will not, as promised, free up an extra 350 million GBP a week for the National Health Service, it won't affect the island's dependence on migrant labor, and it has already cost the economy thousands of manufacturing jobs.
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"In our view, Johnson's desire to push for Brexit, deal or no deal, increases the chance of an early general election and some possibly (of) nasty GBP outcomes," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a recent note.
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BMO Capital Markets on Monday reduced its three-month and six-month outlooks for GBP/USD to $1.16 and $1.15 respectively owing to the risks of a no-deal Brexit and early elections, which its analysts suggested could come before year-end.
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The Financial Services Agency has checked whether financial institutions have raised necessary amounts of sterling GBP= and the euro EUR= for their daily operations, the sources said, who declined to be named because they were not authorized to speak to the media.
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But the weak pound - which has dropped nearly a fifth against the dollar GBP=D3 since the referendum - has contributed to a jump in inflation, and Tuesday's data from the British Retail Consortium and Barclaycard indicated consumers may now be feeling the pinch.
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The greenback largely held its gains against the British pound GBP=, which fell more than 1 percent after the Bank of England raised interest rates for the first time in more than a decade but said it sees only gradual rises ahead.
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With Jeremy Hunt, Johnson's rival for the premiership, also keen to display his credentials as a hard Brexiteer, sterling GBP= has plunged this week to lows not seen in over two years as investors price in the growing risk of a disorderly Brexit.
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"In the event of UK leaving, the initial knee-jerk impact on the market could be quite negative, but we believe the resulting GBP (British pound) weakness and Bank of England action will cushion a chunk of the fall in equities," they added.
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"Most Brexit permutations look moderately GBP positive for the week but long-term challenges were underscored by the BCC forecasting a cut to business investment by the most in 10 years," said from Sue Trinh, RBC Capital Markets' head of Asia FX strategy.
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Elsewhere, the pound lost about 0.4 percent against the dollar GBP= on concern about the UK parliament's vote on Brexit and after the Bank of England warned of risks to the currency if Britain leaves the European Union in a disorderedly manner.
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Having plunged to a record low last week on worries Britain was heading for a "hard Brexit", prioritising tighter controls on immigration over access to the single market, the Bank of England's trade-weighted sterling index jumped 1.4 percent on Tuesday =GBP.
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The British pound GBP= took a pasting in the past week, falling to a new 31-year low against the dollar, and rattling nerves on trading desks with a "flash crash" in Asian trading early on Friday that has not been completely explained.
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"While the USD and JPY have retained their safe haven status, the lack of clarity on the future relationship between the UK and Europe suggests that the GBP adjustment still has more to go," said Rodrigo Catril, currency strategist at National Australia Bank.
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Economists polled by Reuters had on average forecast a rise to 2.7 percent in July, and sterling fell to a five-week low against the U.S. dollar GBP= after the data, as traders saw little chance of the BoE raising interest rates soon.
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"While the BoE reiterated two-way risk to policy (on Thursday), it seems that markets remain set in an 'inflation nutter' mindset and continue to view the Bank's recent GBP-induced inflation concerns as a hawkish shift," said ING currency strategist Viraj Patel.
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Like its peers, Carlyle mostly shrugged off the impact of Britain's shock decision in June to leave the European Union, also known as Brexit, an event that briefly roiled global markets and caused sterling GBP= to plunge to a 31-year low.
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Sterling slid to a six-month low against the U.S. dollar GBP= on Tuesday below $1.2440, but a measure of market volatility of sterling over the next 12 months GBP1YO= remains well below the post-2016 peak it reached in December 2018.
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GBP=D4 But traders - both human and computer - will scour the decision for clues on whether regional assemblies will get a say - one of a number of other as-yet-unknown factors that threaten the government plans, which have proven unpopular with investors.
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GBP=D4 The memo said no common strategy had emerged, partly as a result of splits within the government and partly due to the evolving political situation in the rest of the EU where both France and Germany face major elections in 2017.
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"The back-up in risk has exposed the rather tenuous basis for the dive in CHF and we take the opportunity to fade this vs GBP which is contending with an increasingly mediocre economy," said Paul Meggyesi, a strategist at the U.S. bank.
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"The question investors need to ask themselves is do they have the foresight to hold GBP longs at the historically cheap levels but wear the ins and outs of the day to day noise of politics," they wrote in a note to clients.
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After suffering its biggest loss against the euro in two years in May - and also losing ground against the dollar - the pound GBP= coasted through June as markets awaited the outcome of a Conservative Party leadership battle to become Britain's new prime minister.
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"Although more recent GBP-specific ebbs and flows have been driven by the sharp re-pricing of Bank of England policy expectations, we expect the focus for the pound over summer to shift back to Brexit politics," noted FX analysts at ING.
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Henry Darger (Prestel, 21558 USD, 21603 GBP, 235 CAD) Henry Darger was still very much an unbridled outsider when, in 224.99, John Ashbery wrote a book-length poem called Girls on the Run (247) in celebration of his strange and fantastical art.
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L] [GBP/] The killing of Cox, a 41-year-old mother of two young children, has shocked Britain and could yet prove a defining moment in a vote that will shape the nation's role in world trade and also determine the future of the bloc.
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To put that number in context, the pound is currently more than twice as volatile as it was at the beginning of May, and over 60% higher than in the lead-up to last year's general election, when political uncertainty caused GBP volatility to spike.
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Last week, sterling GBP= also reached a 10-month high against the greenback as rising U.K inflation prompted comments from Bank of England officials suggesting interest rates may need to rise, despite slowing economic growth as Britain negotiates its exit from the European Union.
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The pound GBP= has fallen about 17 percent against the dollar since the June 23 vote to leave the EU, trading near $1.24 on Friday, and according to the poll of around 86.03 foreign exchange strategists surveyed this week it will dip a little further.
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Having traded above $1.33 GBP=D3, close to its strongest in two weeks, the pound skidded to as low as $1.3246 in the early afternoon in London, with traders attributing the move to a Bloomberg report that Brexit negotiations could be set to break down.
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"GBP currently appears to be caught in a battle of wills between Bank of England rate expectations and increasing tail risk hedging as we approach the UK's departure from the EU on 29 March 2019," Bank of America Merrill Lynch analysts said in a note.
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Football (or soccer) fans wanting to attend UEFA Super Cup 2017 in Skopje last week found that many of their hotel rooms were cancelled and rebooked at astronomical rates – sometimes 500 to 900 GBP for a hotel room that was originally a fraction of that.
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Sterling GBP= moved higher against the dollar, backed by data that showed lending to Britons expanded last month at the fastest annual pace in 11 years, while mortgage approvals were stronger than expected, bolstering the picture of resilient consumer demand after June's Brexit vote.
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"In the case of a 'Leave' vote in the UK referendum ... we expect UK equities to outperform the European market, given the likely GBP (British pound) depreciation in such a scenario as well as the market's defensive sector structure," they wrote in a research note.
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London's turnover in the British pound GBP=D3 rose to a record $351 billion, up 18 percent from October 2017 and nearly doubling from last year, as disappointment over the central bank not raising interest rates prompted traders to dump the pound against the dollar.
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Since Britons voted on June 23 to leave the EU, the pound GBP= has dropped almost 20 percent against the dollar, a decline that is not yet over, according to the poll of over 60 foreign exchange strategists taken in the past few days.
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RIC=GBP= poll forecasts LONDON, March 7 (Reuters) - Sterling would lose around 9 percent of its current value against the dollar and trade at $1.20 in the immediate aftermath of Britain leaving the EU without a deal, a Reuters poll of foreign exchange strategists predicted.
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"We expect the triggering of Article 50 to initiate a 'sell the rumour, buy the fact' rebound in GBP from historic undervaluation as ambiguity over Brexit recedes," currency strategists at Barclays wrote, saying the markets had overestimated the downside to the pound resulting from Brexit.
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Sterling GBP=D4 slipped after two days of gains and ahead of a decision in the next week or two on parliament's role in Brexit negotiations, while Mexico's peso MXN= was boosted by a second straight day of currency intervention from its central bank.
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Asked whether they expected the British pound GBP= to be stronger or weaker than 1.31 to the dollar on March 29, 2019, when Britain is no longer a member of the European Union, investors were nearly evenly split - and more pessimistic than their UK peers.
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Paula Rego: The Art of Story (Thames and Hudson, 115 USD, 85 GBP) The year's finest monograph about a female artist is Paula Rego: The Art of Story, Deryn Rhys Jones's account of the trajectory of the 84-year-old, Portugal-born printmaker and painter.
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Britain's sterling rose 0.3 percent to $1.3970 GBP=D4, taking a breath from a 5-percent fall since early this month on fears that a public vote on June 23 could see Britain become the first country to quit the 28-member European Union.
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LONDON (Reuters) - London stock exchange futures sank, gilt yields fell and the pound dived below $1.27 GBP= for the first time in almost two months on Friday as odds tightened on Labour leader Jeremy Corbyn becoming the next British Prime Minister after UK elections.
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Rochester is long on the euro versus the pound, but admitted that this has become a "pain trade" and suggested that this could be a "make or break week for GBP trades" if Labour fails to eat into the Conservative lead in the polls.
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Forward currency contract * Disposal of German and Dutch portfolios for eur 1.28 billion to be completed on 16 June * Proposed sale of its German and Dutch portfolios is expected to complete on 16 June 2017 * Had entered into a forward currency transaction to sell Euro 580 million for GBP 503,053,011 at GBP: EUR 1.15296, with a maturity date of 8 June 2017 * Has agreed to roll forward maturity date of its forward currency transaction from 8 June to 20 June at existing rate * intends to distribute a substantial portion of net cash proceeds of transaction to its shareholders Source text for Eikon: Further company coverage:
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KEY ASSUMPTIONS Fitch's key assumptions within our rating case for the issuer include: - Revenue growth by +3% in FY17, aided by favourable FX of +1% onwards; - EBITDA margin gradually growing from 0003% towards 50% over the forecasts horizon; - dividends per share increasing by 10% pa; - no further material M&A - capex of GBP250 million pa; - tax rate of 20% for FY17; - average exchange rates: GBP/EUR 1.18 (FY16: 1.28); GBP/USD 1.25 (FY103: 1.42) RATING SENSITIVITIES Future Developments That May, Individually or Collectively, Lead to Positive Rating Action - In light of the company's current stretched financial profile, we do not foresee any rating upside in the short term.
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"In the case of a 'Leave' vote in the UK referendum ... we expect UK equities to outperform the European market, given the likely GBP (British pound) depreciation in such a scenario as well as the market's defensive sector structure," Deutsche Bank strategists said in a note.
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"We have certainly seen a normalisation of risk reversals and even implied volatility has come down significantly, which suggests the process of unwinding the pre-Brexit GBP shorts ... is close to complete," said Javier Corominas, head of economic research and FX strategy at Record Currency Management.
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K. * Northstar Realty Europe Corp - deal for approximately GBP 300 million * Northstar Realty Europe Corp - Northstar Realty Europe invested approximately $34 million by way of preferred equity * Northstar Realty Europe Corp - to acquire 20 gresham street from AXA investment managers Source text for Eikon: Further company coverage:
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Sterling was effectively flat at $1.3197 GBP=D3 after spending the previous day confined to a narrow range when British lawmakers wrested control of the parliamentary agenda from the government for a day in a highly unusual bid to find a way through the Brexit impasse.
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"We expect GBP-USD to fall back towards 1.20 during February, in part because of an anticipated rally in the dollar, but also because UK politics will undermine the currency and the market has become too hawkish given the downside risks to the economy," it said.
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L] [GBP/] "I think the easing up on Huawei is being seen as a sign that while the United States and China are unhappy with each other, neither side wants to burn the negotiation bridge at the moment," said Connor Campbell, an analyst at Spreadex in London.
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Sterling jumped as high as $1.2672 GBP=D3 as the result came in but then fell to $1.2605, still up 1 percent on the day, after it emerged that the number of lawmakers who had voted against May was higher than many in the markets had expected.
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The pound GBP= had a torrid February as the spread of the virus sent investors rushing to safe-haven currencies and British Prime Minister Boris Johnson's hardline approach to trade talks restoked fears of an acrimonious divorce from the EU. Britain left the bloc on Jan.
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Rochester added that the fall in GBP is unlikely to extend into a new trend as "parliament is not completely prorogued just has to bring forward their plans to stop a no deal to next week," and said the market is already betting heavily against the currency.
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The pound GBP= lost 1.4 percent to the dollar on Friday, and at one point earlier it had tumbled as much as 10 percent over just a few minutes, a "flash crash" that fueled concerns about the vulnerability of the currency and triggered volatility across jittery markets.
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Scotiabank analysts noted that CFTC positioning data released at the end of last week, which measures the positioning of speculative investors such as hedge funds, showed "net GBP shorts fell $563 billion", although the market remains heavily short the pound versus the dollar and sentiment is bearish.
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"A larger-than-expected defeat could be seen as GBP (pound) negative as it widens the range of potential political outcomes (including a leadership challenge, a general election, a Norway-style deal or a second referendum)," Simon Derrick, chief currency strategist at BNY Mellon, told CNBC via email.
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The pound had fallen as much as a quarter of a percent to below $1.30 GBP=D3 against the dollar after the BBC reported a group of MPs in May's ruling Conservative Party had met to discuss how and when they could force her out of her job.
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"If forecasts solidify into reality then, on realisation of a softer Brexit stance and more fiscally easy outlook, the market should be factoring in greater growth and inflation and gilt supply, generating a steeper gilt curve and stronger GBP," said Peter Chatwell, head of euro rates strategy at Mizuho.
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As a result, strategist Kamal Sharma wrote of the pound, "Market complacency on expectations for a sizeable majority was one of the motivating factors behind our view that GBP was likely to face near-term headwinds in the coming months as investors "buy the sizeable majority, sell the fact.
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Michel Barnier, the European Union's chief Brexit negotiator, said he was "strongly opposed" to the British government's proposals on future trade ties after it leaves the EU. The pound GBP=D3 fell 0.8 percent to $1.2855 and weakened 0.8 percent against the euro EURGBP=D3 to 89.80 pence.
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Brexit Poses Challenges Even though a portion of Premier's input costs are denominated in USD or other currencies, we do not expect the company's profit margin to be immediately affected by the recent GBP depreciation, as the majority of the company's foreign currency needs are hedged for FY17.
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Donald Judd: Interviews (David Zwirner, 39.95 USD, 28 GBP, 53.95 CAD) One of the finest American nit-pickers was Donald Judd, and we get a full tasting of the impressive range of his interests and opinions in a fat book just published by David Zwirner called Donald Judd: Interviews.
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The pound has fallen 2.5 percent in trade-weighted terms in less than four weeks =GBP as opinion polls showed the opposition Labour party gaining ground on the ruling Conservatives before polling day, raising the prospect of no party winning an overall parliamentary majority and some form of coalition government emerging.
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"It is impossible to say by how much a hard Brexit could weaken GBP, but we do not believe that a further 5-10 percent depreciation should be regarded as an extreme scenario when set aside the UK's high dependence on foreign capital," wrote analysts at JPMorgan in a note.
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Soft Brexit hopes have already lifted sterling well off last year's lows GBP=D21.10 and traders in currency options -- investors' favoured way for many months to protect against a weakening pound -- now report growing demand to flip those positions and hedge against further sterling gains over the months ahead instead.
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The pound lost up to 10 percent of its value on a trade-weighted basis =GBP against major currencies over the past six months as Brexit anxiety jarred and measures of implied volatility in the options market soared - reflecting demand to insure against wild swings in the currency around the vote.
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The pound's almost 20 percent slide =GBP since Britain voted to leave the European Union in June has been the main currency story on developed markets in the months that have followed, and investors have built up record short positions against it on the view that it has further to fall.
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It pulled further away from a 31-year low of $1.2798 set last week, though investors remain uncertain about May's approach to negotiating Britain's departure from the EU. [GBP/] "We see more downside for the pound both on Thursday and the months ahead," said Josh O'Byrne, Citi currency strategist in London.
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OWNS PUTS: CAT BRIAN KELLY Brian Kelly is long Bitcoin, CLR, XLF, XLV, XLI, IWM, US Dollar UUP; he is short AUD=, JPY=, EUR=, GBP= STEVE GRASSO GRASSO'S FIRM IS LONG: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF, SPY, DIA, XLI.
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The pound jumped to a three-month high against the single currency EURGBP=D4 and a two-month high against the dollar GBP=D4 on Thursday, staying close to those levels on Friday, after Britain's Brexit minister said the government would consider paying into the EU budget in order to keep market access.
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NOTES DUE 2021 AND RELATED SOLICITATION OF CONSE * PFIZER INC - COMMENCED A PRIVATE OFFER TO EXCHANGE ANY AND ALL OF ITS OUTSTANDING GBP 1.5 BILLION 6.500 PER CENT * PFIZER INC- EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M. (NEW YORK TIME) ON DECEMBER 14, 2017 Source text for Eikon: Further company coverage:
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The British currency GBP=D3 rose to a post-Brexit referendum-vote high at $1.4377 in mid-April and fell nearly five percent until the end of the month, after Bank of England Governor Mark Carney signaled the central bank may not raise interest rates in May due to "mixed" economic data.
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Showing how sensitive markets have become to the uncertainty over a possible Brexit, sterling fell as much as 2.3 percent on the day to hit a seven-year low of $1.4057 GBP=D4 in early U.S. trading - following Johnson's Sunday announcement - before recovering by about 1 cent to around $1.4165 by 1800 GMT.
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"There is definitely a feeling that Brexit is now far more likely to be 'soft', which underestimates the risk for more problems ahead in our view but for the time being is leading to demand for GBP," said John Marley, head of FX strategy at Infinity International, a currency risk management firm.
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Though that effectively meant Britain would undergo the "hard Brexit" many investors have feared, May's relatively conciliatory tone and the fact that she had removed a layer of uncertainty was interpreted as a positive by markets - sterling soared by 3 percent on the day of the speech against the dollar GBP=D4.
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"The move suggest GBP path in 297.0 looks set to be a volatile one, a hard Brexit cannot be ruled out, but the probability of a positive Brexit resolution has also increased," Catril said, adding that the possibility remains that Johnson could still introduce a new bill for an extension next year.
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The British pound was up 0.3 percent at $1.3076 GBP=D3 after brushing a two-month high of $1.3140, lifted after The Sun newspaper reported on Thursday that Northern Ireland's Democratic Unionist Party has privately decided to back May's Brexit deal next week if it includes a clear time limit to the Irish backstop.
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To conduct its analysis, Reuters looked at tick-by-tick movements in quoted sterling-dollar prices GBP=, supplemented by price data from Reuters Matching - the benchmark system for pricing trades in the pound between banks - in the minutes before and after the retail sales data releases in the 12 months to February this year.
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LIQUIDITY Strong Liquidity: The group currently has strong liquidity with, over the coming 10 years, no more than 10% of total debt maturing in any 0003-month period, cash balances averaging GBP1.5 billion to GBP 2 billion and a GBP3 billion committed revolving bank facility due May 2021 and undrawn as at 31 December 2016.
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Air Force Lieutenant General Chris Bogdan, who runs the F-35 program for the Pentagon, told reporters this weekend that his office was carefully assessing any potential impact on trade and tariffs stemming from Britain's vote to leave the EU. A drop in the value of the British pound GBP= could help lower some costs.
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"With spot trading at around 1.30, we think GBP/USD is a 'buy' on a three-six month horizon, though we anticipate a resumption of downside risks in the second-half of the year, towards the end of the Brexit transition window," BMO's European head of FX strategy Stephen Gallo said in a client note.
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Under electoral law, it is illegal to publish the results of such polls while people are still voting but a private poll could allow traders to exploit moves in the currency market, with sterling expected to rise sharply against the dollar GBP= on the back of an "In" vote but decline if Britons vote for an exit.
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While the FTSE 250, which is mostly made up of domestic companies, has also de-rated since the vote to leave the European Union, Citi's analysts write: "We still find it hard to get too excited about UK mid-caps, in aggregate, at these levels given the backdrop of UK macro uncertainty and weak GBP trends."
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The London studios (some owned by other groups including Warner Bros at Leavesden) have been home to many recent film successes, aided by an innate, non-unionised, English-speaking workforce and expertise favoured by international producers, as well as recent GBP depreciation and the UK's long-standing cross-party supported Film Tax Relief for film-producing companies.
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An avowed Brexit supporter will now lead the government for the first time since the United Kingdom voted by a 52%-48% margin in June 2016 to leave the EU. The pound has fallen sharply in recent weeks on concerns about a "no-deal" Brexit, and stands near $20083 GBP=D3, around its lowest level for two years.
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Sterling skidded to a 30-month low against the dollar, below $1.21 GBP=D3 and down 2.2% in less than a week, as fund managers, industry executives and Bank of England Governor Mark Carney all lined up to warn about the hit to the economy of a no-deal Brexit under new Prime Minister Boris Johnson.
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"Currency markets are not going to boost GBP significantly until no-deal risk is dealt with," said Jeremy Thomson-Coo, head of currency strategy at WorldFirst Meanwhile data highlighted the toll the prolonged uncertainty is taking on the British economy, with banking industry group UK Finance reporting mortgage approvals at the lowest level in almost six years.
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"In the event that the polls prove to be giving a misleading impression of a fairly slender Conservative poll lead and instead they are returned to power with a reasonably increased majority (say 15 to 20 seats or more) then GBP should enjoy at least a modest relief rally," he said in a research note on Monday.
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The London studios (some owned by other groups including Warner Bros at Leavesden) have been home to many recent film successes, aided by an innate, non-unionised, English-speaking workforce and expertise, favoured by international producers, as well as recent GBP depreciation and the UK's long-standing cross-party supported Film Tax Relief for film-producing companies.
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"In the post-referendum world, all political developments need to be viewed through a Brexit prism and an argument can be made that a hung parliament which delivered or held out the prospect of a softer-Brexit coalition of the left-of-centre parties (Labour/Lib Dems/SNP) might actually be GBP positive," the bank writes.
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"Pursuant to the terms of the Acquisition, SBG purchased all of ARM's issued and to be issued shares (excluding any ARM shares already owned by SBG or an SBG subsidiary) for cash, for a total acquisition price amounting to approximately GBP 24.0 billion (approximately USD 31.0 billion or JPY 3.3 trillion)," the company noted in its announcement.
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Sterling, which lost as much as 20 percent against the dollar last year after the shock vote, hit a six-week high against the dollar GBP=D20173 and British 10-year government bond yields GB10YT=RR rose to their highest since mid-December as some investors believed the Bank of England might soon start to move toward an interest rate hike.
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The British newspaper The Times on Wednesday reported that a long-running transition phase could be rolled over annually if needed - effectively leaving the UK in an open-ended Norway-style relationship with the EU. "GBP may trade softer if there's a leadership challenge, although it's unlikely that Theresa May loses the challenge," said Mayank Mishra, a global strategist at Standard Chartered.
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" Jane Foley, senior currency strategist at Rabobank, told CNBC in an email that "fat fingers, algos, low liquidity may all have been factors but it is possible that the move was exaggerated by the current vulnerability of the pound and the forecasts of some investors and economist that GBP still has further to fall as Brexit consequences come home to roost.
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"After two post-referendum legs of independent weakness, GBP has become little more than a range trade for the last three months or more, caught between increasingly independent moves in USD and EUR," said RBC Capital Markets global head of FX strategy Adam Cole in a report, adding that the outlook for sterling would be lower than RBC's $1.15 target.
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Stephen Gallo, European head of forex strategy at BMO Financial Group, told CNBC that approving the start of trade talks would not hurt sterling, but the big rally will only come when there are concrete evidences of how trade will work after the U.K. leaves the EU. "It wouldn't be a GBP-negative development, that is for sure," Gallo said.
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The U.S. data's impact was muted, with the market generally preoccupied by Britain's future in the EU. As opinion polls continued to show the "Leave" camp moving ahead before the June 23 vote, and Britain's biggest selling paper, the Sun, came out in favor of leaving the bloc, sterling fell to a more than two-month low of $1.4093 GBP=.
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"GBP fell on the back of the Telegraph report on fear that we could be out of the EU without a deal even sooner than thought – though actually this doesn't make sense because the only way we could leave earlier than March 2019 would be if a deal had been struck," Jane Foley, head of forex strategy at Rabobank, told CNBC via email.
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