On Monday, the pound gained back from two-week losing streak against the dollar as hopes for Brexit deal was given a boost after PM Johnsons top aide was ousted ahead of “make or break” Brexit talks. Hopes on a Brexit deal was boosted after the prime minister’s top advisor Dominic Cummings, confirmed he will leave his
The economy of Britain grew slower by 1.1% in September compared from that of August while lagging other rich nations as it struggled to recover from the shock of the pandemic even before the latest Covid-19 lockdown. The slowdown in the data that is shown on Thursday, gave expectations that the economy will shrink once again
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On Wednesday, PM Boris Johnson’s part of the Internal Market Bill and plans for a “revised” Brexit trade deal was struck down by the House of Lords. Although Johnson says he plans to pursue the clauses that were struck down, the sterling surged higher as there is now a better hope for a Brexit-deal. The
The US Dollar The first currency which is the US Dollar dominates the world foreign exchange. It is the base or universal currency to evaluate and other currency traded on forex. Most commodities like metal and oil are denominated in US dollars. Because of this, any fluctuation in supply and demand have direct impact on the US dollar value. US
On Sunday, UK Prime Minister Boris Johnson said that a trade deal with the European Union was “there to be done”. The Brexit negotiators have been urged to see the UK as an “independent state” which support Johnson’s upbeat stance. “I think it’s there to be done, the broad outlines are pretty clear.” Mr.
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In October, Britain’s construction lost momentum but suffered least in compared to the other economy’s that are hit by the coronavirus pandemic. The IHS Markit/CIPS Purchasing Manager’s Index for the construction sector dropped to 53.1 in October from September’s 56.8, a bigger drop than the decline to 55.0. However, unlike figures released on Wednesday
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The European Union and Britain have failed to bridge the gaps in securing their trade deals and reaching an agreement on persistent sticking points is still way off. Talks have been intensified for two weeks as UK and EU is trying to strike a deal to protect nearly a trillion dollars of trade from severe disruption,
