techkenyot.com
techkenyot.com April 20, 2019


Sterling volatility continues over no deal Brexit fears

13 August 2018, 08:58 | Hattie Nash

The Hargreaves Lansdown founder said that the government’s negotiators “didn’t have a clue”ANDREW MACASKILL REUTERS

The Hargreaves Lansdown founder said that the government’s negotiators “didn’t have a clue”

Recent gains by the euro and the dollar have also hurt the pound.

Sterling and United Kingdom government bonds will fall further in the run-up to Brexit, even after the pound slumped this week to its lowest in nearly a year, prominent Brexit-supporting British hedge fund manager Crispin Odey said on Thursday.

Connor Campbell, financial analyst at SpreadEx, said: "The fears of a no-deal Brexit have really gathered steam in the last few sessions, a snowball effect stemming from Mark Carney and Liam Fox's warnings either side of the weekend".

Part of the hedging trade was being driven by companies.

Arsenal's uncomfortable Petr Cech earns 5/10 as Gunners struggle vs
It was a fantastic game for us, so now we have to keep going. "We spoke at half time about taking more responsibility for the second half, to do a little more".

Against the euro, the pound hit a nine-month low after it passed the 90p mark once again yesterday.

Sterling is down 0.6% against the dollar to $1.2860 at 12.00 p.m. BST (7.00 a.m. ET).

Last week Bank of England governor Mark Carney warned that the risk of the United Kingdom leaving the European Union without a deal was "uncomfortably high", something he described as a "highly undesirable" scenario.

"Some are thinking in the market that the Bank of England raised rates in order to give them ammunition to cut them in the face of a no-deal", said Neil Jones, a foreign exchange expert at Mizuho Bank. "The next move could be a cut rather than another hike".

Ronaldo sprinkles star dust on Juventus in intimate opener
The former Real Madrid striker played in his first match for Juventus in a friendly against the club's B team at Villar Perosa. During the years, we played a few times against Juve and I had a special feeling that the Italian supporters like Cristiano.

Risk reversals - used commonly to hedge against expected currency moves - in sterling/dollar fell to their lowest since early March 2017.

While there appeared to be no notable trigger to yesterday's pound sell-off, analysts suggest it is likely a result of growing anxiety that time is running for the United Kingdom to avoid a "no-deal" Brexit.

"We remain bearish on the pound in the short term until the Brexit mess is out the way and look for the currency to enter a US$1.27-1.28 range before the leaders' summit in September", said Nomura strategist Jordan Rochester. That indicates a sharp rise in demand for sterling "puts", or options to sell the currency. The pound has lost more than 10 percent since April and is down nearly 15 percent since the Brexit Referendum in June 2016.

Traders are also preparing for Friday's reading of second-quarter British economic growth numbers, which might offer some relief.

Ex-Aide to Roger Stone Held in Contempt for Refusing to Testify
Stone, a longtime associate of President Trump's, met with a Russian offering dirt on Hillary Clinton in 2016. Mueller's team has spent months questioning witnesses about Stone , including Stone's associates .



Other News

Trending Now

Sevilla Threaten Withdrawal From Spanish Cup Over Eligibility Rule
That haul includes four Champions League wins, nine La Liga crowns and six Copas del Rey, as well as a record five Ballons d'Or. It had been thought the Spanish Super Cup was the same but Sevilla said they would object to "an improper line-up".

Arsenal Vs. Manchester City Live Stream
The title is City's to lose, but they'll be hoping for more than just back-to-back championships in England. Alexandre Lacazette will start for Arsenal as their central striker.

Koepka tops Tiger to win PGA Championship
He left at least two strokes on the back nine, and an argument could be made that he could have been six better than he ended up. Woods and Koepka played nine holes of a practice round on Wednesday, and the 14-time major champion knew what he was up against.

Erdogan says crash of lira ‘political plot’ against Turkey
Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, in July. Adding to Turkey's problems, the Trump administration doubled tariffs on the country's steel products on Friday.

Erdogan says lira crash 'political plot' against Turkey
The United States is the biggest destination for Turkish steel exports with 11% of the Turkish export volume. Photo American Christian pastor Andrew Brunson is on trial in Turkey on terrorism charges.

Betts becomes first player to hit for cycle in 2018
Betts singled and scored in the first inning , tripled in the second and doubled in the fourth against starter Ryan Borucki. In the second inning, Betts collected the most hard hit of any cycle by knocking a triple, also to left field.

Manchester United 'to appoint first ever director of football'
The Frenchman has been the subject of major transfer interest in recent weeks after reportedly falling out with Jose Mourinho . Mourinho seems to be at odds with some important figures at the club.

Local aviation expert weighs in on Seattle plane theft and crash
Investigators said they don't believe Russell had a pilot's license and they're unsure how he was able to fly the way he did. According to a statement from Alaska, the sole man onboard, the one operating the plane, was an employee for Horizon Air.

Canada adds 54,000 jobs in July
Data for metropolitan areas is adjusted for seasonal influences but based on the average of the three most recent monthly samples. Employment also rose in British Columbia and Newfoundland and Labrador, while Saskatchewan and Manitoba lost jobs last month.

'She makes me play better and better' - Halep lauds rivalry with Stephens
"I think I played smart tennis today". "You make me play better and better every time we play", Halep said of Stephens. Halep complained Friday about playing the first semifinal day after two straight night matches.