The following is based on research from DailyFX analyst Nick Cawley. DailyFX is a unit of IG Group Holdings plc (LON:IGG). For more of Nick's research see DailyFX.com. British Pound Falters on Concerns that UK Brexit Plans are Incomplete During a speech to the Lord Mayor’s Banquet, UK Prime Minister Theresa May said that the country should…
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LeapRate Exclusive... LeapRate has learned that US financial regulatory body the National Futures Association (NFA) has issued a directive to all licensed forex brokers in the country, indicating that they must cut leverage and raise margin requirements on all GBP currency pairs. The new required minimum margin on both new trades and existing positions is…
Read moreEuropean traders long the Pound may wake up Friday to learn that they were stopped out.
Read moreThe City has always been a ‘thriver’, as times change, it relishes uncertainty, turmoil, and dissention.
Read moreAnyoption analyst Brett Chatz takes an interesting look at the very volatile GBPUSD 'Cable' trade, and what traders need to look for this week. For more of Brett’s research see the Anyoption blog. [divide] The sterling is poised to break through the critical support level of 1.30 this week…. It has been a tumultuous time…
Read moreThe British Pound has continued drifting downward to multi-decade lows in Monday trading, with the GBPUSD Cable trading with a 1.30 handle for the first time since the 1980s. It was only this morning that the GBP broke below the $1.32 level for the first time post-Brexit. For the day, the GBPUSD is down 1.62%,…
Read moreAfter a brief recovery last week which ended with Boris Johnson's withdrawal from the race to replace David Cameron as British Prime Minister, the British Pound continued downward on Tuesday setting post-Brexit lows in the 1.31 range (as at time of writing the GBPUSD Cable trade was at 1.3170). What is going on? Saxo Bank’s Head…
Read moreThe Brexit surprises are still coming. And there are likely more in store in the days and weeks ahead. Since the initial drop of the GBPUSD last Friday from the high 1.40's to about 1.32 right after word of the Leave side referendum victory broke, the GBP has been slowly recovering - as have the…
Read moreIs it the calm before the storm? Or just plain ol' calm? With Brexit Referendum Day finally here and UK residents well into their day of voting, financial markets were behaving quite nicely with a very clear positive risk-on bias. In the UK, the FTSE 100 was up 1.5% two and a half hours into…
Read moreDMM FX Australia, who is closing up shop this summer as reported by LeapRate back in May is taking no extra risks before winding down. Today they notified current clients that due to an increased risk following the Brexit referendum and to further protect clients’ positions during this event, trading will be suspended from 07:10hrs (server time) for…
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