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Market Reports

10:40am, January 25th 2019

Sterling continues its ascent…

The latest news to cross the wires on the Brexit front are that the Democratic Unionist Party are now prepared to support May’s deal on the condition that the backstop has a time limit attached to it. This development has helped the pound add to its already handsome weekly gains. The $1.31 level has been breached against the greenback while €1.15 proved easy to conquer against the shared currency. This news is seen as a big win for May and potentially indicates she may be gaining some more support within the Conservative Brexiteer camp. The development comes at the end of what’s been an incredibly encouraging week for the pound which has seen the best part of 2% added to its value against the buck and euro.

Mario Draghi’s performance yesterday proved to be dovish as many had expected. The central banker chose to focus much more attention to the downside risks which face the eurozone. As a result he helped push the euro’s value lower against its peers. Even though the central bank have taken their foot off the gas when it comes to stimulus, it’s quite clear they’re still not ready to increase interest rates. This has allowed the pound to creep up toward the €1.16 level, a price not seen for a significant amount of time.

Have a good weekend.

Written by Viv Savani. 10:40am, January 25th 2019

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

8:29am, July 2nd 2019

UK and Eurozone PMIs disappoint, greenback takes advantage…

View Report
8:26am, July 5th 2019

Super-subdued session, final trading day of the week should see things heat up…

View Report
8:22am, June 19th 2019

GBPUSD in the spotlight today…

View Report


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