Authorization

Sterling up on Brexit hopes and Carney comments

The pound has enjoyed its second-largest daily rise against the dollar this year as investors bought in to hopes of Brexit deal progress and comments by the governor of the Bank of England.
It jumped 1% initially after The Times reported Prime Minister Theresa May had struck a tentative deal with the European Union on financial services.
It then extended those gains in London trading after Mark Carney hinted that the path of UK interest rate rises could quicken in the event of a smooth Brexit.The performance was also aided by a general weakening of the dollar, which has proved a safe haven amid wider market turmoil in recent weeks.Traders cited activity too at hedge funds, which have been short on sterling, saying they rushed to cover their positions as the pound rose.The currency had lost 3.6% against the dollar over the past three weeks as concerns about a disorderly Brexit grew.It was trading back above $1.30 and just below €1.14 on Thursday evening - up 1.8% against the greenback.Since the Brexit vote, any gains for the pound have tended to put pressure on the market values of the FTSE 100s dollar-earning companies. The index lost 0.2% after staging a recovery in recent days following a tough October for world stocks.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Июль 2020    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031