The Pound "Drops Like a Stone" as May Rejects Barnier's Latest Irish Border Proposal

Pound Sterling will rise steadily into year-end say UK high-street lender HSBC, but the currency will have its wings clipped, even in the event of a Brexit deal being struck.

The Pound spiked higher Wednesday after official data showed U.K. inflation rising rapidly during August, placing the put the Bank of England in the spotlight, just as European political leaders descend on the Austrian city of Salzburg for a migration and Brexit-related summit.

Pound Sterling bulls must exercise patience as a Brexit breakthrough is unlikely this to be delivered by the Salzburg summit.

A 'no deal' Brexit scenario is looking increasingly improbable amidst fresh signs the EU is relaxing its negotiation stance on the Irish border and the 'no deal' Brexit brand grows increasingly toxic.

The economic reasons for avoiding a 'no deal' Brexit were recently laid out by Bank of England Governor Mark Carney. The warnings are quite stark.

The Turkish Lira shot higher Thursday after the Central Bank of Turkey (CBRT) raised interest rates despite opposition from President Recep Tayyip Erdoğan, whose influence over the institution has contributed to the nation's 2018 currency crisis.

The headline takeaway from the Bank of England's September meeting proves positive for the British Pound which traded higher against the US Dollar following the announcement, breaking the 1.31 barrier in the process. Against the Euro recent gains were defended despite the single currency being boosted by the ECB.

Those wanting a stronger British Pound by year-end 2018 will take heart from news reports that domestic resistance to a Brexit deal might be fading.