Sterling hits $1.2960 on election optimism; short positions decline

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh * Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv By Elizabeth Howcroft LONDON, Nov 18 (Reuters) – Sterling rose above $1.2960 on Monday after Prime Minister Boris Johnson said that all Conservative Party candidates in the upcoming election have pledged to back his Brexit deal. Johnson told the Telegraph newspaper in an interview […]

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BT CEO says: Labour's plan for free broadband may cost 100 bln pounds

LONDON, Nov 15 (Reuters) – Britain’s opposition Labour Party’s plans to nationalise parts of telecoms provider BT’s network and provide free full fibre broadband may cost more than 100 billion pounds ($127 billion), BT chief executive said. “These are very, very ambitious ideas and the Conservative Party have their own ambitious idea for full fibre for everyone by 2025 and […]

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PRESS DIGEST-British Business – Nov 13

Nov 13 – Here are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times – Royal Mail Plc has lost its appeal against Ofcom’s finding that it was guilty of market abuse designed to quash Whistl, a letter-handling rival. bit.ly/2NICgAy – Former chancellor Philip […]

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Sterling edges down from six-month highs vs. euro as Brexit Party boost ebbs

LONDON (Reuters) – Sterling inched down from six-month highs against the euro and was a touch softer against the dollar on Tuesday, as a boost from the Brexit Party’s decision to not contest previously Conservative-held seats in Britain’s upcoming election faded. The pound rallied as much as 1% versus the dollar on Monday after Brexit Party leader Nigel Farage said […]

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PRESS DIGEST-Financial Times – Nov 12

Nov 12 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Martin Gilbert to take Revolut chair in January on.ft.com/2O00IfP British Steel rescued by Chinese group Jingye on.ft.com/2p8c20S Vodafone strikes deal with BT to expand broadband coverage on.ft.com/32DIDsY Burger King and Unilever launch […]

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Pound rises as UK escapes recession; bearish bets decline

LONDON (Reuters) – The pound firmed against a weaker dollar on Monday, gathering momentum after data showed the UK economy dodged recession in the third quarter of 2019. Britain’s economy grew at its slowest annual pace in nearly a decade as the global slowdown and Brexit worries hit manufacturing and business investment but the 0.3% growth marked a rebound following […]

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Sterling firms to $1.28 ahead of GDP data; short positions extend decline

LONDON (Reuters) – The pound rose 0.2% against a weakened dollar on Monday ahead of a flurry of UK data, including GDP figures which are expected to show economic activity rebounded in the third quarter of 2019. UK September Gross Domestic Product (GDP), manufacturing production, industrial output and goods trade balance data are all due at 9.30 GMT. All three […]

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Sterling holds above $1.28, unchanged as investors wait for political moves

LONDON (Reuters) – Sterling was little changed on Friday, holding just above $1.28 and recovering from two-week lows against the dollar and euro, as investors await political developments ahead of Britain’s Dec. 12 election. The pound was pushed to a low of $1.2794 on Thursday when the Bank of England’s decision to keep rates constant was not unanimous as had […]

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