the Pound strengthened significantly on Tuesday, then the british prime minister, Theresa May, in his policy speech before the Brexit negotiations confirmed that the Uk will leave the EU internal market.
the closure was the pound in the 1:238 against the u.s. dollar, 2.8 percent higher than the closure the day before, and thus the best day for the pound since 2008.
some observers declared the pundförstärkningen with relief that the earlier the earlier the uncertainty disappeared with the century, other to the european parliament should have the last word on the finished Brexit agreement.
Peter Dixon, Commerzbank, however, the speech raised more questions than it answered and that it was looking for some kind of great insight on how the Uk should achieve the targets as Theresa May put out was disappointed.
“Mrs. May left in fact a wish list of what she wants for the Uk, but the agreement itself will depend on the compromise that can be reached with the EU. And on that front, we must wait for the EU öppningsspel in order to assess how realistic her goals are,” he wrote in a by client letters.
In his speech said the prime minister that her proposal will not involve access to the EU internal market, but instead, the Uk will seek the greatest possible access to the internal market, on a reciprocal basis.
She said that the Uk wants a new customs agreement with the EU and is open for alternative solutions in the tullfrågan.
According to the prime minister, the country must have control over their own laws and regain control of immigration from EUROPE, but she stressed that she wants to have strong trade relations with the EU and that she does not want to cooperation with the EU is going to fall together.
“We leave the EU, not Europe,” she said, but also warned
the EU of wanting to “punish” the united kingdom, it would mean “a huge self-harm”. She added that “no deal is better than a bad agreement”.
“A constructive and optimistic entrance to the Brexit negotiations is in both Britain’s and the EU’s interest”, said Theresa May.
the Parliament will get to vote on the final Brexit-the agreement, which the prime minister hopes will be ready in time before the two-year-long utträdesprocessen is the end of the year.
Earlier on Tuesday, the statistics showed that the uk CPI inflation increased to 1.6 percent in december from 1.2% in november. It was the highest inflation rate in over two years and it comes after the pound’s weakening raised the import prices sharply. Expectations low at +1.4%.
On Monday warned the BOE chief Mark Carney to rapidly rising inflation will slow down household consumption in the years after the pound’s depreciation in the wake of this summer’s referendum results.
the European interest rates fell slightly on Tuesday, with the German tioårsräntan 2 points down to 0.30 percent, from the Swedish closing the day before. The Swedish ten-ended 1 point lower to 0.60%.
the German ZEW index of German investor and analyst expectations for the economy, rose to 16.6 in January from 13.8 in december, which, however, was lower than an expected rise to 18.4. The Index of the current location step at the same time greatly to 77,3, from to 63.5. The ZEW noted that the rise in sentiment was primarily due to an improved economic situation in the european countries.
On the foreign exchange market, the euro strengthened to 1:07 against the dollar, from 1:06 on Monday, while the dollar in turn dropped to 113:05 against the yen (114:01). The dollar was reported to have been weighed by comments from president-elect, Donald Trump, in an interview with the Wall Street Journal said that the dollar is already “too strong” in part because China is holding down its own currency, the yuan.
the Crown was strengthened 6 penny and 8:89 against the dollar and weakened 2 cents to 9:51 against the euro.
Even the U.S. interest rates fell on Tuesday, with the ten-year rate 7 basis points down to 2,33 percent.
the Fed chief in New York, William Dudley, said in a speech that inflation is “simply no problem” in the united states and to the risk that the Fed will dampen the expansion, therefore, is low.
He said that the recent strength in the dollar puts downward pressure on prices and that the use of housing loans for consumption has declined.
his Colleague, governor Lael Brainard, said for his part that the fiscal stimulus may bring faster interest-rate hikes.
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