Sterling jumps after no-deal Brexit rejected; dollar softer

Sterling jumps after no-deal Brexit rejected; dollar softer

In your inbox before the open, every day. An unexpectedly weak US inflation reading bolstered most shares on speculation the Fed can hold as the economy finds its footing. UK lawmakers rejected the idea of tearing the country out of the European Union with no agreement and UK Prime Minister Theresa May was said to plan to ask for an extension to the March 29 Brexit deadline lasting about two months.

The S&P 500 Index climbed for a third day, wiping out last week's losses and reaching a four-month high as it held above the key 2,800 level. U.S. producer prices barely rose in February, the U.S. Labor Department reported on Wednesday, resulting in the smallest annual increase in more than 1-1/2 years.

NEW YORK, March 13 (Reuters) - World equity markets broadly rose on Wednesday, lifted by investor optimism that British lawmakers will rule out a no-deal Brexit and fresh US data that highlighted a strong economy with low inflation, an outlook that weakened the dollar.

"It's pretty remarkable the strength of the market over the last couple of days", said Emily Roland, the head of capital markets research at John Hancock Investments. Tepid inflation and disappointing producer price data this week support the Fed's stance of keeping interest rates on hold, denting the dollar.

The British pound rose ahead of another vote in parliament on a proposal that would rule out a "no deal" exit from the European Union. But with the ECB introducing new long-term loans for banks and pushing back its rate hike expectations, investors have been warming towards European equities of late.

Elsewhere, oil pushed above US$58 a barrel in NY, boosted by a decline in United States crude and fuel stockpiles, adding to evidence of a tightening market.

The National People's Congress is set to wrap up on Friday.

Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board meet to decide on monetary policy.

With Kalank, Karan Johar Is Fulfilling His Father Yash Johar's Dream
Going by the teaser , the film promises to take viewers on a journey of timeless love, emotions and turbulent relationships. Head-to-toe in black, Sanjay Dutt opted for a black Pathani suit as he arrived for the teaser launch of Kalank .

The S&P 500 added to its best advance since January, with major media shares leading gains.

Japan's Nikkei rose 0.5 percent while Australian and New Zealand shares each added 0.2 percent. As well as exports being hit by falling Chinese demand, the recent emerging market currency crisis in places like Turkey has also weighed on growth. Sterling rose 0.83 percent to $1.3181 while the dollar softened against the yen and euro.

The British pound jumped 1.4 percent, the most in four months, to $1.3255. The dollar was 0.19 lower versus the Japanese yen at 111.19.

In afternoon trading, US 10-year note yields rose to 2.612 percent from 2.605 percent late on Tuesday. It shed 0.4 per cent overnight, at one point brushing a nine-day trough of 96.385.

Brent crude futures settled at $67.55 a barrel, up 88 cents, or 1.32 percent.

Spot gold gained 0.6 percent to $1,309.30 per ounce as of (2056 GMT), its highest level since March 1.US gold futures settled 0.9 percent higher at $1,309.3 per ounce.

Form for signing up for free newsletter.

-With assistance from Adam Haigh, David Wilson, Robert Brand and Sarah Ponczek.

Related News:



Most liked

Malaysia rejects call to free Vietnamese accused in Kim Jong Nam killing
They were the only people in custody after four North Korean suspects fled the country the same morning Kim was killed. Huong's trial was postponed until April 1 after Doan's lawyer said she needed medical treatment.

Quinton de Kock on fire again as SA stroll past Sri Lanka
Udana was the sole aggressor in the partnership, and was especially severe on Nortje, smashing 37 runs off his last two overs. The Proteas won by six wickets with 103 balls left to spare at St George's Park in Port Elizabeth on Wednesday.

Avengers Endgame trailer: Tony Stark is back on Earth
Adrift in space with no food or water, Tony Stark sends a message to Pepper Potts as his oxygen supply starts to dwindle. There are many shots from previous Marvel films as this one brings the 21 film saga to an end.

Lori Loughlin 'Never Pushed' Her Daughters Bella Giannulli and Olivia Jade
In all, 33 parents were wrapped up in the college bribery scandal and millions of dollars have changed hands in that time. They were among 50 individuals indicted Tuesday for conspiracy to commit mail fraud and honest services mail fraud.

Sarri responds to reports Hazard could join Zidane’s Real
And the concern about the Belgian's future has crept into the training ground, with one Chelsea star declaring his worry. Eden Hazard is determined to join Real Madrid this summer following the return of Zinedine Zidane .

National Football League draft prep: Biggest takeaways from Kyler Murray's pro day
Representative of many teams, including the Cardinals, were in attendance for the Pro Day on the Oklahoma campus. Kyler Murray threw during Oklahoma's Pro Day and the Heisman Trophy quarterback put on an absolute clinic.

Fox News' Tucker Carlson Calls Iraqis "Semiliterate Primitive Monkeys" in Surfaced Recording
If you want to know what I think, you can watch". "He has one white parent, one black parent", he said in 2006. And now people's calls for advertisers to cut ties with Carlson and his Fox News show appear to be working.

Theresa May claims Brexit breakthrough ahead of crunch vote
In January the British Parliament rejected May's deal by 230 votes , the biggest defeat for a government in modern British history.

250 scientists warn trendy wireless earphones may pose higher risks to cancer
The petition demands that existing guidelines be strengthened and the public be better informed of the risks of radio waves. A Medium article published last week poses the question, " Are AirPods and Other Bluetooth Headphones Safe? ".

AI blood test from IBM could help with early Alzheimer’s detection
The retina's job is to convert light into neural signals which it sends to the brain to be processed into understandable images. He also claimed that the learning model could drastically slow down the progression of Alzheimer's disease.

China blocks United Nations resolution seeking sanctions on Maulana Masood Azhar
In 2017, Beijing also blocked a move by the United States , the UK and France to designate Azhar as a global terrorist by the UN. FM Qureshi also underlined measures Pakistan had taken to defuse tensions, including the decision to release the Indian pilot.

Google announces Android Q beta for Pixel 1, 2, and 3
There's a new Sharing Shortcuts feature that "let users jump directly into another app to share content". There's no telling what apps or services will break due to changes made throughout the beta process.

Fortnite V8.10 Adds a Traversal Equipped Hamster Ball, And Rarely Dispensed Freebies
The Getaway limited time mode makes its return, with players tasked with stealing a jewel and attempting to make their getaway. From here on out, there are no more resource costs associated with the items and weapons offered in vending machines.

Sega halts Judgment sales in Japan following actor arrest
The investigators were acting on information that the 51-year-old Taki (legal name Masanori Taki) was using cocaine . Like the Yakuza series , it is set in Kamurocho, the fictional city modeled after Kabukicho in Shinjuku, Tokyo.

Google Hardware makes cuts to laptop and tablet development, cancels products
To be clear, the employee-shifting that's been reported seems to be concentrated for now within Google's tablet and laptop teams. An internal source close to Business Insider told that Google is now going through " roadmap cutbacks " and hence the decision.