Sterling posts slight rebound by day on upcoming reports

Posted 10 July, 2018

The sterling has posted some strengthening despite uncertainties about further Brexit realization, especially given the recent resignation of the officials. The players wait for the economic growth report, that can make the BoE decide to revise the interest rate this August.

The sterling remains under pressure as the officials keep leaving the Parliament. For reference, Borish Johnson, Foreign Affairs minister resigned yesterday. As a result, this was the third resignation over the past few days. The ministers left the office unwilling to support the soft Brexit strategy followed by Theresa May.

With Johnson's leaving, the vote of no-confidence in Theresa May becomes more real, and thus the further operation of her government is brought into the question. At the same time, the sterling got some support from the reports that Theresa May can avoid this vote. In this situation, hopes that the soft Brexit can take place to persist. 

The sterling improved against the euro with euro sliding to some 0.8836. 

For now, investors expect GDP figures to be unveiled, as this data can promote the August revision of the interest rate by the Central Bank. Specifically, some analysts believe that the

UK economy will recover further after the early-2018 slowdown.

In addition, the UK may also announce trade balance data, industrial production and processing industry results.

As for the US dollar, the US Dollar index regained positions after weakening early this day. The rate stands at 94.18. The euro-to-US dollar dipped to 1.1698. The greenback rises against the yen, coming to 111.34 as well.

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10 July, 2018 15:26

← Swiss platform Bancor lost $13.5 million

Switzerland-based crypto trading platform – Bancor – reportedly lost about $13.5 million due to the wallet weakness. According to the company statement, the hacker attack happened at midnight on July 9. The hackers stole ETH 24,984 worth some $12.5 million, some BNT 3.2 million ($1 million) and more than 229 NXPS tokens ($1 million).

Swiss platform Bancor lost $13.5 million

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10 July, 2018 11:34

US dollar generally flat at Asian session →

The US dollar was flat during the Asian session, while the Chinese currency kept recovering. The US Dollar index slightly rose, reaching 93.86. The greenback has recently recovered from the bottom driven by weaker sterling. The UK faces political crises after Boris Johnson, Minister of Foreign Affairs, left the Parliament, following the resignation of David Davis.

US dollar generally flat at Asian session
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