Pound penned in below $1.32 by risk of snap election, no-deal Brexit

LONDON (Reuters) – Sterling slipped on Tuesday after the British parliament’s moved to wrest control of the Brexit process for a day, raising expectations that lawmakers can end an impasse on Britain’s European Union exit, but also the chances of a snap election. Parliament will now vote on Wednesday on a range of Brexit options, giving parliament a chance to […]

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The Latest: No date for new UK parliament vote on Brexit

European Commission President Jean-Claude Juncker, left, and European Council President Donald Tusk participate in a media conference at the conclusion of an EU summit in Brussels, Friday, March 22, 2019. European Union leaders gathered again Friday after deciding that the political crisis in Britain over Brexit poses too great a threat and that action is needed to protect the smooth […]

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Upbeat German business survey lifts euro, tempers recession fear

(Reuters) – The euro rose on Monday after a better-than-expected business confidence survey from Germany relieved markets of some of their economic growth worries and knocked the safe-haven yen off six-week highs to the dollar. World markets were buffeted on Friday by fears of economic recession fanned by inversion of the U.S. bond yield curve. That sapped demand for higher-yield, […]

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Dollar sinks vs. yen as U.S. Treasury curve flashes warning

NEW YORK (Reuters) – The dollar fell against the safe-haven Japanese yen on Friday as dismal U.S. manufacturing data fuelled worries about the wider economy, and Treasury bond yields signalled growing fears of a recession. The dollar, however, rose against the euro as a much weaker-than-expected German manufacturing survey raised concerns that Europe’s powerhouse economy may be slowing. On Friday, […]

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UK Retail Sales Unexpectedly Rise In February; Borrowing Hits 17-year Low

UK retail sales rose in February, defying expectations for a decline, despite a sharp decline in food sales, preliminary data from the Office for National Statistics showed on Thursday. Retail sales grew 0.4 percent month-on-month after a 0.9 percent rise in January. Sales rose for a second straight month. Economists had forecast a 0.4 percent decline. Sales growth in all […]

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Pound slides as EU resists May's three-month Brexit extension

LONDON (Reuters) – Sterling fell sharply on Wednesday after British Prime Minister Theresa May asked the European Union to delay Brexit until June 30 and Brussels immediately pushed back. May’s request for a three-month extension is shorter than some in the market had been expecting and the prime minister said a no-deal Brexit was still possible. British media reported that […]

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What's next after UK seeks 3-month delay to Brexit?

Britain’s Prime Minister Theresa May leaves 10 Downing Street to attend the weekly Prime Ministers’ Questions session, at parliament in London, Wednesday, March 20, 2019. (AP Photo/Matt Dunham) With just nine days to go until Brexit, Prime Minister Theresa May has asked the European Union to postpone Britain's departure from the European Union until June 30. The decision is in […]

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Dollar weak as traders bet on a dovish Fed

NEW YORK (Reuters) – The U.S. dollar edged lower against a basket of major currencies on Tuesday as concerns over the strength of the U.S. economy and expectations that the Federal Reserve will prove accommodative at its meeting this week weighed on the greenback. The dollar index, which measures the greenback against six major currencies, fell 0.15 percent to 96.375, […]

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