Morning Report: 06 August 2018
(WorldNews Africa)

GBP. It took Bank of England Governor Mark Carney to discuss Brexit possibilities on Radio 4 last Friday for sterling to reach a fresh 7-week low following a dovish hike on Thursday. Carney stated that the possibility of a no-deal Brexit is uncomfortably high, and developments over the weekend have done little to shake this sentiment. This is evidenced by the UK`s International Trade Secretary, Liam Fox, reported in the Sunday Times saying that the odds of crashing out of the single market with no deal are around 60%. In a week which saw interest rates bumped up to 0.75%, sterling depreciated near a percentage point against the dollar as the BoE`s decision wasn`t portrayed as the...