The pound may advance against all its Group-of-10 peers this year as the risk of a no-deal Brexit has been declining, according to Goldman Sachs Group Inc. Sterling has strengthened for five straight weeks as the defeat of Prime Minister Theresa May’s Brexit plan last Tuesday was seen boosting the prospects of a second referendum that may result in the U.K. staying in the European Union. The premier is expected to present a new proposal to Parliament Monday. “We would read the developments over the last week as pointing toward ...

The dollar held near a two-week high on Monday, shrugging off concerns about weakening global growth and data that showed China’s economy slowed sharply in 2018. Going into 2019, weakness in the dollar was a consensus view among currency market traders. The bet was that the U.S. central bank would stop raising interest rates and the economy would slow after a fiscal boost last year. But the greenback has enjoyed its first weekly gain since mid-December, buoyed by hopes of a thaw in U.S.-China trade tensions and stronger-than-expected U.S. industrial ...

The dollar held near a two-week high on Monday, shrugging off concerns about weakening global growth and data showing China’s economy slowed sharply in 2018. The greenback has enjoyed its first weekly gain since mid-December, buoyed by hopes for a thaw in U.S.-China trade tensions and stronger-than-expected U.S. industrial production numbers. Going into 2019, weakness in the dollar was a consensus view among currency market traders. The bet was that the U.S. central bank would stop raising interest rates and the economy would slow after a fiscal boost last year. ...

Russia and China plan to ditch the US dollar and switch to local currencies in international trade but yet another delay to a new system for yuan-rouble settlements shows just how complex it is to develop an alternative to the greenback. Russia, China and a number of other countries are aiming to cut their dependence on the US dollar, as Washington uses access to the dollar payment system as a weapon to punish nations and individuals for breaking US laws, even outside the United States. In November, Russian Finance Minister ...

The pound weakened on Friday as investors took profits after a stellar rally that set the currency up for its biggest weekly gain against the euro in more than a year on growing confidence that a no-deal Brexit can be avoided. Data showing British shoppers cut back on spending in the three months to December was broadly in line with market expectations and sparked just a brief rise in sterling. The bigger focus for traders remained Brexit, especially after a tumultuous week in which British Prime Minister Theresa May’s deal ...

The dollar steadied on Friday but was set for its first weekly rise in five weeks as doubts grew on the ability of other major global central banks such as the European Central Bank to start raising interest rates this year. While the prospect of another Fed rate hike has been virtually ruled out of money markets this year, markets have also whittled down the odds of the ECB raising interest rates on the back of weak economic data, weighing on the single currency. Money markets are assigning less than ...

The U.S. dollar rose on Thursday against a euro dragged lower by soft economic data, while the pound took off on hopes of a second referendum on Britain’s membership in the European Union. Against the euro, the dollar strengthened to $1.1367, its highest in nearly two weeks. Inflation data for the trade bloc showed price pressures receding further from the central bank’s target, complicating the situation for the European Central Bank which currently expects to raise interest rates later this year. The single currency has fallen 0.80 percent against the ...

Paul Manafort, while managing Donald Trump’s 2016 election campaign, is accused of passing private polling data to his Russia business partner, a man with alleged ties to Russian intelligence. This new information, revealed in an unsealed court filing, is likely to stoke the case in Congress for increased sanctions against Russia. Equally importantly, the reverberations will be felt in Moscow, where anger and frustration over the impact of U.S. sanctions – and by implication, Vladimir Putin’s leadership – is increasing. Putin’s focus, in the face of sanctions, has been to ...

The euro huddled at a two-week low against the dollar on Thursday as weak euro zone data pulled the single currency below a key market level, while the pound stabilized as British policymakers seek consensus on how to exit the European Union. “Euro zone data has been quite disappointing and that is prompting the euro to underperform the struggling dollar in the opening weeks of the year,” said Alvin Tan, a currency strategist at Societe Generale in London. The euro <EUR=EBS> held at $1.1398, broadly flat against the dollar. It ...

The pound held on to the day’s gains on Wednesday, trading just off two-month highs against the euro as British Prime Minister Theresa May saw off a no-confidence vote, a day after MPs defeated her Brexit divorce deal. May survived the motion after securing the backing of her own party’s rebels and Northern Irish allies, but must now try to find a consensus with other MPs over how to proceed with Brexit. She proposed immediate talks with other party leaders. The scale of Tuesday’s rout is seen opening the doors ...

The euro slipped against the dollar and the pound on Wednesday as worries about the outlook of the euro zone economy weighed on the single currency while sterling edged higher before a no-confidence vote on Prime Minister Theresa May’s government. Prime Minister Theresa May’s government faced the vote on Wednesday after the crushing defeat of her Brexit divorce deal by parliament left Britain’s exit from the European Union in disarray just 10 weeks before it is due to leave. Though the pound had sunk more than 1 percent against the ...

Sterling rebounded from the day’s lows against the U.S. dollar, rallying more than a cent to above $1.28 after British lawmakers voted down Prime Minister Theresa May’s deal to leave the European Union by a crushing margin. While the outcome may trigger political upheaval that could lead to a disorderly exit from the EU, the British currency rallied on expectations that the scale of the defeat might force lawmakers to pursue other options. “I think the market’s take on (this defeat) is that it ups the probability of a soft ...

The British pound bounced around Tuesday, ahead of a crucial vote on U.K. Prime Minister Theresa May’s exit plan from the European Union, which Parliament will vote on later in the day. Giving up most of an earlier lead, sterling last bought $1.2869, slightly up from $1.2866 late Monday. It tapped a session high of $1.2917 during the Asian market hours. On Monday, the U.K. currency rallied to a two-month high after the Conservative and May-sceptic European Research Group reportedly said it would support May in Tuesday’s vote. The pound ...

The euro fell on Tuesday after data showed Germany’s economy slowed in 2018, underscoring fears about a broader slump in Europe. Europe’s largest economy is struggling with a cooling of the global economy and trade disputes driven by U.S. President Donald Trump’s policies. An unexpected fall in German industrial output last week weakened the euro and bred concern about a slowdown and the European Central Bank’s caution as it tries to wean the region off stimulus. The German economy grew by 1.5 percent in 2018, the weakest rate in five ...

Sterling briefly surged to two-month highs against the dollar on Monday after a report, subsequently denied, that a pro-Brexit faction of MPs could support Prime Minister Theresa May’s Brexit divorce deal in parliament. The currency had firmed earlier in the day as markets seized on another warning from May that MPs’ failure to approve her Brexit deal in Tuesday’s parliament vote could lead to the UK staying in the European Union. While May urged parliament to give her deal “a second look”, the proposal looks almost certain to get the ...