Money: Pound Hits Highest Since July as Johnson Strikes Softer Tone - PressFrom - United Kingdom
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MoneyPound Hits Highest Since July as Johnson Strikes Softer Tone

15:36  09 september  2019
15:36  09 september  2019 Source:   msn.com

Pound falls on report Britain's Queen could be asked to suspend parliament

Pound falls on report Britain's Queen could be asked to suspend parliament Pound falls on report Britain's Queen could be asked to suspend parliament

FTSE hits fresh six-month high as pound weakens. #Oil prices hit highest since Nov after#US ends waiver on #Iran oil imports from next wee.

The pound hit .36, the highest level since 24 June 2016, after Gertjan Vlieghe, a member of the Bank of England’s Monetary Policy Committee, said interest rates could rise Vlieghe’s comments sent the pound to its highest level against the dollar since 24 June 2016, the day of the Brexit vote result.

Pound Hits Highest Since July as Johnson Strikes Softer Tone © Getty

The pound rallied to the highest since July after UK Prime Minister Boris Johnson emphasised he wanted to get a Brexit deal before next month’s deadline.

Sterling led gains in the Group-of-10 after Johnson said at a press conference with his Irish counterpart Leo Varadkar that he would “overwhelmingly prefer” to get a deal by October. The currency had already been bolstered by better-than-expected data that eased concerns that the U.K. may be facing a pre-Brexit recession.

Pound Hits Highest Since July as Johnson Strikes Softer Tone © Bloomberg Sterling rallies as Johnson says would prefer a Brexit deal

The pound has rallied this month to recoup most of its losses since Johnson came to power, as the U.K. Parliament has intervened to force him to seek another extension to the Brexit deadline. That has led traders to rush to cover short positions built up on fears he would drive through a no-deal Brexit on Oct. 31.

Pound leaps on politicians voting to seize control to block no-deal Brexit

Pound leaps on politicians voting to seize control to block no-deal Brexit The pound against the US dollar (GBPUSD=X) jumped in early trading on Wednesday after Members of Parliament (MPs) moved to seize control over blocking a no-deal Brexit. The pound rose by over 0.26% to reach over $1.21 after initially sinking to a 34-year low (if you don’t count the ‘Flash Crash’ of 2016) yesterday due to UK prime minister Boris Johnson threatening to call another snap general election if MPs blocked his ability to drag Britain out of the European Union without a deal. © Provided by Oath Inc. Chart: Yahoo Finance Late yesterday, Johnson lost his majority of one in parliament after MP Phillip Lee defected to the Liberal Democrats.

It has hit the highest level against the dollar since the EU referendum in June 2016. The pound surged to .3691, apparently on reports that Spain and If today’s US CPI (consumer price inflation) numbers show a weak tone questions may once again be asked as to the likely pace of US rate

The pound hit .36, the highest level since 24 June 2016, after Gertjan Vlieghe, a member of the Bank of England’s Monetary Policy Committee, said interest rates could rise Vlieghe’s comments sent the pound to its highest level against the dollar since 24 June 2016, the day of the Brexit vote result.

“A lot of negatives are in the price of the pound and the recent short-squeeze may continue for now,” said Valentin Marinov, head of Group-of-10 currency strategy at Credit Agricole SA. “We expect the Brexit delay bill to get a royal approval and thus push the risk of a no-deal Brexit beyond the fourth quarter of 2019.”

The pound gained 0.8% to $1.2385 by 11:30 a.m. in London, the highest since July 29. The currency rose 0.7% to 89.17 pence per euro. U.K. government bonds were among the main losers in Europe, with 10-year yields up five basis points to 0.56%.

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Irish weather forecast: Met Eireann predicts mild day with highs of 18C before September sizzle hits.
Temperatures will soar to 21C later this week

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