The British Labour Leader Jeremy Corbyn called the leaders of the opposition to back him as a future Prime Minister to stop a no-deal Brexit.
Analysts may be predicting that a recession is coming in the coming months, but traders took began to support that theory immediately, selling off stocks on a grand scale on Wednesday
Prior to the release of YK retail prices, housing and inflation data by the UK Office of National Statistics, the Pound Sterling had been trading close to a 3-year trough.
The former British Chancellor Phillip Hammond warned against a no-deal Brexit, ridiculing the idea that the UK would be better off in such a situation.
After hitting a six-year high on Tuesday morning, gold prices retreated on news that the U.S. Trade Representative may delay tariffs on some Chinese imports.
Ongoing concerns over the possibility of a hard crash out of the European Union dominated sentiment for Pound Sterling traders.
The United States National Security Adviser John Bolton said that the US would propose a series of accelerated trade deals with the United Kingdom, adding that the US government supports a no-deal Brexit.
The global economy has been having a busy summer, between the excitement surrounding the Federal Reserve’s interest rate cut, the on-again-off-again trade negotiations between the United States and China
The Pound Sterling eased back into positive territory against both the euro and the US Dollar, though analysts expect any gains to be limited and swiftly lose momentum.
The British Labour party is considering holding a no-confidence vote against the Prime Minister Boris Johnson.
The People’s Bank of China set the official midpoint reference or the country’s currency at 7.0211 per dollar on Monday, the third straight session that the Chinese currency has fallen below the 7 per dollar level.
This week is likely to see either a little less or a similar level of market activity to last week, with no central bank input due concerning any major currencies.
Though markets are still awaiting the official monetary decision of the Reserve Bank of Australia, they received a bit of good news from the RBA Governor as he addressed the Australian Parliament earlier today.
After news that Chinese exports edged unexpectedly higher in July, the British pound was able to recover some of its recent losses.
Chinese exports surprisingly rose in July, despite the growing trade tensions between China and the United States.