GBP (British Pound)

Re: GBP (British Pound)

Postby winston » Mon May 01, 2017 10:44 am

Chart of the day: Pound makes comeback

by Nicole Elliott

After last year’s Brexit-induced collapse and Donald Trump’s pro-America rhetoric pounding, the British pound, where sentiment has been overwhelmingly negative for months, if not years, has rallied to its strongest on a trade-weighted basis since December.

Against the US dollar, it is back to levels last seen in October and has gained 5 per cent since January, outperforming most currencies.

With the 27 European Union leaders deciding how to tackle Article 50 over the weekend and a holiday on Monday, the chance of another round of short covering is strong.

Note that pound puts are still more expensive than calls, suggesting most investors are still shorting the currency. We expect a surge to US$1.3225.

Source: SCMP

http://www.scmp.com/business/markets/ar ... s-comeback
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Re: GBP (British Pound)

Postby winston » Mon Jun 12, 2017 7:15 am

Chart of the day: British pound struggles

by Nicole Elliott

On Friday morning, Britain woke up to the fact that the Conservatives ran a poor election campaign and Theresa May is not as popular as she thinks.

Similarly, Nicole Sturgeon managed to lose an awful lot of her seats in Scotland.

As always, the pound took the first hit and then we will see what happens next.

Cable, which has struggled under the psychological level of US$1.30 for the best part of eight weeks, fell a bit, as did the pound against the euro, which matched January’s weakest level of 88.6 euro cents.

The cost of buying protection against further weakness increased, with the cost of cable puts also matching January’s high.

However, price action can generally be said to be jittery, but not catastrophic. Steely determination is needed.

Source: SCMP

http://www.scmp.com/business/markets/ar ... -struggles
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Re: GBP (British Pound)

Postby winston » Wed Sep 13, 2017 8:08 am

Since 2007, the pound has kept falling against the US and Hong Kong dollars

One pound fetched US$2.11 in November 2007. But last October, the exchange rate fell at one point to US$1.145, or an accumulated 45 percent plunge by the pound in nine years.

The pound has since rebounded and one pound was worth US$1.328 as of yesterday after Britain reported a higher inflation figure and amid expectations that the US Federal Reserve will moderate rate hikes this year and next.

The pound is tipped to rise further to US$1.40 in the mid term though Brexit talks may pose uncertainties from time to time.

During the pound's downtrend between 2007 and 2016, it was hardly a surprise to see the currency rebound by 2,000 to 3,000 basis points at certain periods.

Source: Dr Check, The Standard
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Re: GBP (British Pound)

Postby winston » Fri Sep 15, 2017 7:40 am

not vested

Bank of England hints at rate rise in 'coming months'

The Bank of England hinted Thursday that it may be ready to raise interest rates for the first time in a decade, possibly in November, to keep a lid on inflation, which has shot up since Britain's decision last year to leave the European Union.

In a statement accompanying its decision to keep its key interest rate at the record low of 0.25 percent, the bank warned that borrowing rates could be raised "over the coming months'' and sooner than many in financial markets currently think.

Still, it's clear that rate-setters face a dilemma, given that inflation is running way above the bank's 2 percent target at 2.9 percent. Under more normal times, that would have been justification enough for a rate hike.

However, any prospective increases would be expected to be "at a gradual pace and to a limited extent.''

The minutes indicated that the November 2 announcement could be the moment the bank opts to raise rates. The committee, according to the minutes, will "undertake a full assessment of recent developments'' in November, when it publishes its quarterly update to economic projections.

Source: AP

http://www.thestandard.com.hk/breaking- ... 0914&sid=2
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Re: GBP (British Pound)

Postby winston » Fri Sep 15, 2017 3:53 pm

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Ringgit to stay volative versus British pound, says AmBank Research

by Surin Murugiah

KUALA LUMPUR (Sept 15): The ringgit (MYR) is expected to stay volatile against the British sterling pound (GBP), according to AmBank Research.

In a note today, AmBank group chief economist Anthony Dass said looking at the GBP against MYR, it depreciated by 1.4% prior to the Bank of England’s Monetary Policy Committee (MPC) meeting from 5.5029 (Sept 7) to a low of 5.5819 (Sept 12).

“However, the GBP/MYR, which hit a low of 5.5563 prior to the MPC, strengthened to 5.5485 post-MPC meeting, suggesting the market may have overplayed the weakness of the GBP/MYR.

“We expect the GBP/MYR to remain volatile going forward, primarily being influenced by the news flows such as inflation, wages and interest rates.

“Our average GBP/MYR projection is 5.55 in 3Q2017 and 5.56 – 5.57 in 4Q2017.

“This will bring our full-year GBP/MYR to average around 5.54,” he said.

Dass said he also sees that the GBP/MYR could reach a low of 5.59 – 6.00.

Source: The Edge
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Re: GBP (British Pound)

Postby winston » Fri Sep 29, 2017 11:56 am

British Pound Rising: How U.S. Income Investors Can Profit

by Steve Mauzy

Source: Wyatt Investment Research

http://dailytradealert.com/2017/09/28/b ... an-profit/
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Re: GBP (British Pound)

Postby winston » Thu Jan 18, 2018 6:21 pm

Why one contrarian investor says the British pound could rally to $1.40 in 2018

By Sara Sjolin

Euro has overshot and peaked, Coutts CIO says

“We expect the U.K. to get a Brexit transition deal and therefore more confidence for U.K. corporations and overseas corporations [looking to invest in the U.K.]”.

The biggest sterling win, however, is likely to be against the euro.

“Moving back to €1.20 would still leave sterling undervalued,” he said. “When you buy something that’s undervalued, which we think sterling is, nice things tend to happen.


Source: Market Watch

https://www.marketwatch.com/story/why-o ... yptr=yahoo
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Re: GBP (British Pound)

Postby winston » Sun Jul 01, 2018 8:04 pm

The pound is 'extremely vulnerable' right now but GS thinks that it is heading for a big jump

by Will Martin

The chief investment officer of Goldman Sachs' investment management division backs a major appreciation in the value of the British pound.

Sharmin Mossavar-Rahmani said there is the potential for a 10% gain in the pound going forward.

Other analysts are not so keen, with ING's Viraj Patel saying the pound is "extremely vulnerable."

Source: Business Insider
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Re: GBP (British Pound)

Postby winston » Fri Mar 29, 2019 8:49 am

Mark Mobius predicts pound-dollar parity

The UK currency, the pound fell today versus the US dollar to US$1.3150, compared with an overnight trough of US$1.3140.

In the meantime, investmen guru Mark Mobius, has todl the Financial Times that the pound would hit parity against the US dollar.

“Up to now, the UK is riding on the coat-tails of the EU, in the sense that [the UK] can have very low interest rates.

“As soon as they break, people are going to start looking hard and fast. The rating agencies will say ‘wait a minute, no more EU association? We’ve got to downgrade.’”

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0328&sid=2
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Re: GBP (British Pound)

Postby behappyalways » Tue Jul 30, 2019 8:07 am

Pound sinks to 28-month low on Brexit fears
https://www.bbc.com/news/business-49156403
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