The British pound is currently pressured, as the GBP \/ USD pair continues to fall. The pair fell in the North American session on Wednesday by 0.56%, to trade at $1.3137 per pound.<\/p>\n
News that influenced the GBP \/ USD move<\/b><\/p>\n
The Bank of England released its semi-annual Financial Stability Report, with UK retail sales showing strong news in June, and CBI Realized Sales gaining 32 points to break the 10-point forecast. This was the highest reading since April 2017.<\/p>\n
The US economic data was weak, with durable goods pointing to deflation, and pending home sales at -0.5% for a second consecutive decline. The final GDP results for the first quarter and unemployment claims will also be released in the United States.<\/p>\n
European leaders will meet on Thursday at a very important two-day summit. One of the most important items on the agenda will be the British exit from the European Union, as well as the Irish border issue after Britain left the EU. European leaders had hoped to end outstanding issues at this meeting, but that would most likely not happen. There have been various proposals on the arrangement of the Customs Union between Ireland and Northern Ireland.<\/p>\n
The slow pace of Britain\u2019s exit talks from the EU is a major concern for businesses and for investors worried about uncertainty after Britain’s departure from the EU. On Monday, BMW said it was concerned about “continuing uncertainty” over the lack of clarity regarding future customs arrangements between Britain and the European Union. One of the company’s top executives said that if its cars were stopped at the border, the company would stop its production operations in the UK.<\/p>\n
BMW\u2019s comments come in the wake of a similar warning from Airbus, which said that if a Brexit agreement was not reached, the company could close its market in the UK. “If Britain and the EU fail to make significant very soon, the alarm bells from the business sector will get louder and confidence in the British economy could nosedive and drag the pound lower.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The British pound is currently pressured, as the GBP \/ USD pair continues to fall. The pair fell in the North American session on Wednesday by 0.56%, to trade at $1.3137 per pound. News that […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49,2],"tags":[28,27,52,50,77,51,25,29,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/646"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=646"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/646\/revisions"}],"predecessor-version":[{"id":648,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/646\/revisions\/648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/647"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}