Monetary Policy Committee (MPC) member Hogg stayed close to the bank’s recent script and there was no market impact
SGM-FX Wed 1 Mar 2017
In testimony to the Treasury Select Committee, new Monetary Policy Committee (MPC) member Hogg stayed close to the bank’s recent script and there was no market impact.
There was choppy trading surrounding the Afternoon fix, but the UK currency was unable to gain sustained support, especially with real yields continuing to move against Sterling. The Euro edged towards 0.8550 on the day and the UK currency was unable to hold above 1.2450 against the dollar.
Scottish First Minister Sturgeon stated that a new independence referendum may be the only way for Scotland, maintaining a significant element of market unease surrounding the political outlook and the government could face defeat on in the House of Lords on an amendment to the Brexit Bill. Dollar developments dominated as Sterling retreated to below 1.24.
The latest PMI data will be watched closely on Wednesday while shop prices fell 1.0% in the year to February.01/03
Related Insights
Daily Brief – Gold and Silver
Humphrey Percy
Wed 4 Feb 2026
Gold and Silver Due to the vertiginous moves in both these precious metals all markets are more than usually fixated on the price action at present. Yesterday, both steadied and clawed back some of the recent losses with Gold rising almost 6% and Silver 10% to USD 4921, and USD 86.70 respectively at the time […]
Daily Brief – Shipping Insurance
Humphrey Percy
Fri 27 Mar 2026
Shipping Insurance According to the Lloyds List, typical rates prior to the war for the Straits of Hormuz for a 1 week policy were 0.15% to 0.25% of hull value. Those insurance rates have rocketed to 5% to 10% of hull value for a 1 week policy. While insurance is still available, more of a challenge is to […]
Daily Brief – Robotaxis
Humphrey Percy
Mon 23 Mar 2026
Robotaxis Uber announced at the end of last week that it is buying 50,000 Rivian R2 robotaxis which will be rolled out initially in San Francisco and Miami in 2028 and then in Europe by 2031. The fully autonomous vehicles will cost Uber USD1.25 billion. EUR/USD 1.1543. People’s Bank of China Governor Pan Gongsheng gave […]
