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The Heritage Pay Team
- Jul 26, 2019
Under Pressure
Sterling has come under renewed pressure this week following the UK's new Prime Minister Boris Johnson's re-affirmation about the UK leaving the EU on 31 October with or without a deal. Furthermore, he has called for the abolition of the Irish backstop, while the EU insists the current deal is the only one available. This, according to currency analysts, politics experts and indeed, common sense, can only lead to a hard Brexit scenario. And with that would follow, very swiftl

The Heritage Pay Team
- Jul 19, 2019
Buckle Up For The Ride
Last week capped another week of straight losses for Sterling. An 11 week losing streak to be exact. And in the first half the week, that trend seemed set to continue - especially as the key fundamentals - the quantifiable determinants, if you will - of the exchange rate; such as Brexit politics, interest rates, inflation and growth remained unchanged. Well, so far so predictable, right? Wrong! On Wednesday, rumours started circulating of a likely interest rate cut by the ECB

The Heritage Pay Team
- Jul 12, 2019
Busy Markets - Confusing Signals Abound
Both last Friday’s US Non-Farm payrolls and this week’s CPI figures came out higher than expected but there was no reaction from Fed Chair Powell to rein in market expectations for a rate cut at the end of this month - as analysts would normally expect. He continued to emphasise economic uncertainty and said that the relationship between economic slack and inflation has “gone away”. He noted that the neutral interest rate and natural unemployment rate were lower than previous