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Pound surges sharply boosted by strong inflation data

On Wednesday, Sterling rose and hit 1.3314 against the US Dollar, its highest level in a year, after the release of upbeat UK inflation, adding pressure on the Bank of England to do more to support the currency. Inflation surged to

Dollar edges higher as North Korea tensions subside

On Wednesday, the US Dollar rebounded from a 2-1/2-year low against its major counterparts and Asian Stocks took their cue from Wall Street’s stronger close, as investors’ concerns over North Korea’s latest missile test eased for now. North Korea’s launch of

Vertu that sold $14,000 smartphones has reportedly collapsed

According to multiple media reports, the manufacturing arm of a British luxury smartphone maker is to be wound down after a failed buyout bid in the UK High Court. Murat Hakan Uzan, who owns the Vertu brand, sought to buy the

Snapchat Shares get a Wall Street upgrade after falling to post-IPO low

Stifel, the Wall-Street firm upgraded Snpachat-parent Snap Shares to buy from hold last week after the Stock hit a new low since its March IPO. Stifel is now one of the minority of Wall Street firms with a positive outlook on Snap. Shares

US inflation data awaited for Fed direction

Last Friday, the Euro failed to sustain an early advance against the US Dollar, and retreated to trade below the $1.14 level as investors unwound long positions to take profit. The European Central Bank is likely to signal in September that

Dollar softens against a stronger Euro in Asia

In early Asian sessions yesterday, the Euro rose against a weaker US Dollar and edged above $1.1000 ahead of the release of Eurozone gross domestic product data later in the day. With concerns about political risks in the Eurozone having receded

What analysts are saying about the First round of French election voting

Investors are cheering the results of the first round of voting in France’s presidential elections after centrist Emmanuel Macron and far-right nationalist Marine Le Pen emerged victorious from the five-way race. The result triggered a relief rally in European Stocks and

OPEC recommends six-month extension of Oil output cuts

According to Thomson Reuters, a technical committee of OPEC and non-OPEC producers recommended that producers extend a global deal to cut Oil supplies for another six months from June. The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers

Finance tax “within reach”, EU’s Moscovici says

On Thursday, European Union’s economics commissioner said that an agreement on a common financial transactions tax (FTT) was “within reach” among the 10 Euro zone countries willing to adopt it. The tax – 0.1% for stocks and 0.01% for derivatives —