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We recently wrote that the EU is treating the UK like Greece and that no matter what happens, the EU will say there has not been enough progress. Well, there was some kind of feel-good atmosphere after Theresa May’s Florence speech. She offered a transition period, but not much more. The initial responses were warm, [...]
The post Brexit negotiations are going nowhere – GBP to extend falls? appeared first on Forex Crunch.
Markit’s construction PMI points to a contraction in the construction sector: a score of 48.1 is the worst in over a year. Expectations stood at 51, after 51.1 last month. GBP/USD is trading around 1.3256, erasing previous gains. more coming
The post UK construction PMI collapses to 48.1 – GBP/USD slides appeared first on Forex Crunch.
The Reserve Bank of Australia left its interest rates unchanged at 1.5%, as widely expected. However, they seem to have upgraded their rhetoric regarding the strength of the Australian dollar. The team led by Phillip Lowe stated that a rising A$ would slow down the economy and that it is restraining price measures. On other [...]
The post RBA keeps the pressure on AUD/USD appeared first on Forex Crunch.