Monthly Archives: July 2016

Fallout from Britain’s Decision to Leave the EU Continues

July 26, 2016Uncategorizedadmin

GB POUNDTuesday the pound weakened against most of its major currency peers as CPI data showed annual Inflation rose to 0.5% in June, an increase of 0.2% since May. Many economists were predicting 0.4%. The last time inflation was this high was November 2014 when it was 1%. The key drivers behind this figure are higher petrol prices, the rising cost of air fares and more expensive computer games. The IMF have downgraded their forecasts for global growth from 3.2% to 3.1%. The UK also downgraded Read more

Global Economy News Round up – FC Exchange

July 18, 2016Economic Newsadmin

GB PoundThe pound started the week on the back foot as the markets reacted to the uncertainty surrounding who is going to be the next PM. Monday saw the GB Pound / Euro interbank rate drop to 1.166 however, it did recover later in the day reaching a high of GBP/EUR 1.175. Tuesday saw Theresa May appointed as the next PM, the appointment came 2 months earlier than expected however many see this as a really positive message. May acted very swiftly in appointing her first cabinet with Phillip Hammond Read more

Global Economy News Update

July 15, 2016Economic Newsadmin

GBPThe Pound continued to come under pressure on Monday as the UK attempts to come to terms with its decision to leave the EU, posting losses of 2.8% against the euro, and 3.2% against the US dollar. Wednesday saw the pound start to strengthen hitting highs of 1.2128 against the euro, and 1.3532 against the US Dollar. On Thursday of last week Mark Carney gave his second live televised interview since the leave vote was announced. The Governor of BOE used his speech to reassure business leaders Read more

Britain Votes ‘Leave’, What Happens Now?

July 4, 2016Economic Newsadmin

UK voted to leave the EU, with only Scotland, Northern Ireland and the City of London voting in favour of remaining in the European Union. There was an unprecedented sell-off in the early hours as the results were announced, with the stock market, particularly bank shares being hardest hit by the seismic news. The pound hit its lowest levels in 30 years as is it touched GBP/USD 1.32 and the GBP/EUR pair dropped to around the 1.23 mark.And more recently with the UK losing credit rating, David Cameron’s Read more

UK Votes ‘Leave’, UK Pound Tumbles in Value – One week On..

July 1, 2016Economic Newsadmin

After months of campaigning, we finally received the news at 06:00 BST on Friday 24 June, that the UK has voted to leave the European Union. What is the impact of the result and what are the potential factors that may affect the pound moving forward? As the results filtered in during the early hours of trading, we witnessed an unprecedented sell-off with the pound hitting its lowest levels in over 30 years as is it touched US Dollar 1.32 and the Euro pair dropping over 8%, falling to a low of just Read more