The British Pound starts the new week registering losses against the Euro, Australian and New Zealand Dollars but is higher against the U.S Dollar, Yen and Franc courtesy of a rally in global stocks and commodity prices.
Downside pressures on the British Pound has eased over the past 12 hours with confirmation that the Labour and the Government have not in fact broken down and the two sides remain in negotiations to forge a cross-party Brexit deal.
The British Pound is trading lower in mid-week trade with markets finding little positive in the latest updates concerning the status of cross-party Brexit talks which are now not expected to deliver a breakthrough this week.
The British Pound is seen defending recent advances made against the Euro and U.S. Dollar amidst a renewed sense of optimism amongst currency market traders that this week there could finally be a material breakthrough in the entrenched Brexit impasse.
Reports out overnight suggest the countdown to Prime Minister Theresa May's departure have begun, and this could make for a weaker Pound Sterling over the summer as the next leader of the country pursues a 'Brexit at all costs' policy.
Gains by Sterling on news of May's reprieve ultimately proved short-lived and we are told by a number of currency analysts that markets will remain nervous of holding Sterling amidst growing concerns that the ongoing Brexit impasse and delay are damaging the economy, we are told.
The British Pound and Euro remain under pressure against a resurgent U.S. Dollar at the mid-week point of a holiday-shortened week, but a big breakout in the UK currency is imminent we believe as domestic political pressures continue to build.
Pound Sterling is seen trading mixed as traders return to their desks after a long Easter weekend, with the currency being tipped to take cues from political headlines over coming days and currency specialists telling us to expect a pick-up in volatility.
The British Pound is flat at the start of the new week but political intrigue in Westminister is expected to start building as MPs return from their Easter break.
The Pound will come under pressure if the odds of a no deal Brexit rise from 15%, which they surely will as the Conservatives forced into delivering Brexit on October 31 amidst fierce backlash from Brexit voters.
Expect a period of lacklustre, range-bound trade in the British Pound - with risks skewed to the downside - following the EU's decision to grant the UK an extension to October 31.
For Pound Sterling the length of delay to Brexit that will be announced by the EU today will be of primary importance.
Pound Sterling faces a period of extended limbo as the UK is expected to be offered lengthy Brexit extension that effecitvely leaves it a powerless EU member state.
Prime Minister Theresa May will be hoping to pursuade France's Emmanuel Macron against his reported hardline stance on whether or not the EU should offer the UK a long Brexit at a special midweek summit on the matter.
A leading foreign exchange analyst says he remains wary of the Pound and advises traders to steer clear of the currency as the popular notion that a 'no deal' Brexit will be avoided is entirely misplaced.
The British Pound was seen trading higher against its peers on Tuesday, April 02 after Prime Minister Theresa May offered to engage in cross party talks to reach a consensus for a 'softer' Brexit.
Having staged its strongest advance of 2019 on Wednesday, the British Pound has fallen back to more familiar levels on Thursday, March 14 as consolidation takes hold of a market that has witnessed a surge in volatility over recent days.
UK lawmakers have voted to hypothetically take a 'no deal' Brexit off the table 'forever' under the first of a series of votes on Brexit due to be tabled tonight.
The British Pound has performed a sharp turn-around after the UK Attorney General dismisses recent concessions made by the EU on the matter of the Irish backstop.
The British Pound rose to record fresh multi-month highs against the Euro and rallied towards recent multi-month highs against the Dollar following a last-gasp attempt by the EU and UK to secure a Brexit deal.
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