Ipsos Mori survey: Brexit already having negative effect on UK businesses

Dhwani Mehta FXStreet

Ipsos Mori conducted a survey of senior executives from more than 100 of the largest 500 British companies, and found out that Business is already suffering from Brexit, FT reports.

Key Points:

58 per cent felt last year’s vote was already having a negative effect on their business

Just 11 per cent found the Brexit decision had meant a positive impact while nearly a third

31 per cent thought it had made no difference to their company

Ben Page, chief executive of Ipsos Mori, noted, “Business in this country is already feeling the pain of the economic upheaval of leaving the EU. There is no sign that this is likely to ease this year.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD strengthens to near 1.3400 as UK political risk fades

The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty. However, hawkish minutes from the Federal Reserve and renewed tensions between the US and Iran might support the US Dollar and cap the upside for the major pair.

EUR/USD sticks to positive bias above 1.1400 vs USD; Mideast tensions cap gains

The EUR/USD pair attracts some buyers for the second straight day, though it lacks follow-through and remains confined within the previous day's range during the Asian session on Thursday. Spot prices currently trade around the 1.1420 area, up less than 0.10% for the day, and remain at the mercy of the US Dollar price dynamics.

Gold sees more pain as Iran tensions revive inflation fears

Gold price reflects signs of softness on Thursday, trading 0.5% lower at around $4,056 during the Asian trading session. The precious metal is under pressure as Middle East hostilities have revived fears of high global inflation, a scenario that discourages major central banks from easing monetary conditions. This framework bodes well for interest-bearing assets, but diminishes the appeal of non-yielding assets, such as Gold.

Bitcoin eyes $60,000 – Jupiter and Pi Network lead losses

Bitcoin is extending its losses on Thursday for the third consecutive day amid renewed tensions between the US and Iran. Risk-off market sentiment intensifies, with Jupiter and Pi Network emerging as the biggest losers over the last 24 hours. CoinMarketCap's Crypto Fear and Greed Index is at 26 on Thursday, down from 29 on Monday, indicating a clear increase in risk-off sentiment.

2.50%: Why the Kiwi's first hike in three years is a wager on a number nobody can see

The Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) by 25 basis points to 2.50% at 02:00 GMT on Wednesday, its first hike in three years and the moment the bank that cut deeper than any G10 peer last cycle turned to face the other way.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.