UK FinMin Hammond to call for business support post-Brexit - Reuters

Dhwani Mehta FXStreet

At an event hosted by the Confederation of British Industry (CBI) on Thursday, the UK Finance Minister/ Chancellor Phillip Hammond will urge the business leaders at the World Economic Forum (WEF) in Davos, Switzerland to continue to invest in the country after Brexit.

Hammond is expected to say: “Britain is a great place to do business. And we are determined, as we leave the EU, to make sure it remains that way.”

Reuters reports that Hammond is also flagging up £100 million in government funding for 1,000 new doctoral research places focused on artificial intelligence for use in public hospitals, voice-recognition software and pollution monitoring.

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.