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The post United Kingdom: Market watching Burnham – Rabobank appeared on BitcoinEthereumNews.com. Rabobank’s Senior FX Strategist Jane Foley discusses UK political dynamics, noting Burnham’s likely unchallenged path to becoming Prime Minister on July 20 and his popularity within Labour. Foley stresses Labour’s weak polling position, tight public finances, tax constraints and uncertainty over the choice of Chancellor as key factors for market sentiment and potential gilt market anxiety. Burnham’s agenda and fiscal constraints “A messy Labour leadership election this summer, would probably not have served anyone well. Although there is a July 17 deadline for other Labour MPs to declare their candidacy for party leaders, it would appear that Burnham will be unchallenged allowing him to take the reins on July 20. The relatively smooth transition will come as a relief to market.” “Also, the popularity of Burnham within Labour may also be a good omen given the deep party factions which Starme
Read full articleLabour's challenge in Clacton could reshape political dynamics, highlighting vulnerabilities in Farage's support amid financial scrutiny. The post Labour to challenge Farage in Clacton by-election amid financial scrutiny appeared first on Crypto Briefing.
The post British Pound: Recovery eyes 1.36 against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is slightly softer but supported by a sharp repricing of Bank of England (BoE) tightening. Improving United Kingdom (UK)–United States (US) spreads and positive sentiment around the UK leadership transition underpin GBP, while technicians remain bullish, targeting an extension of gains toward 1.36 within a 1.3300–1.3400 near-term range. BoE repricing underpins Pound outlook “The pound is soft, down a fractional 0.1% vs. the USD and a mid-performer among the G10 currencies in mixed overall trade. The latest resurgence in geopolitical tensions has amplified the renewed tightening in BoE expectations that we had observed over the past week or so.” “The recovery in UK-US spreads is offering fundamental support to the GBP, and compounding the sentiment-related strength observed in response to the mar
The post Mexican Peso: High real yields underpin MXN demand – Rabobank appeared on BitcoinEthereumNews.com. Rabobank strategists Christian Lawrence and Molly Schwartz note that despite Moody’s downgrade of Mexico to Baa3, 10-year MBono yields have fallen and markets remain relaxed about Mexico’s investment-grade status. They highlight Mexico’s high real yields, Banxico’s likely hold at 6.50%, fading correlations, subdued USD/MXN volatility, constructive positioning and limited reliance on July seasonals. Carry supports stable peso “Despite Moody’s cutting Mexico to Baa3 (one notch above junk), 10-year MBono yields are 36bp lower than before the downgrade. Markets appear unconcerned about a near-term loss of investment-grade status, with S&P still rating Mexico three notches above junk.” “Mexico continues to benefit from some of the highest real yields globally (>5%), second only to Brazil, supporting demand for MBonos and Cetes. We expect Banxico to remain on hold at 6.50% and the 10-y
The post United Kingdom: Early election scenarios – Standard Chartered appeared on BitcoinEthereumNews.com. Standard Chartered analysis by Christopher Graham and Saabir Salad discusses Andy Burnham’s stance against an early UK general election if he becomes prime minister. They note Labour’s weaker polling versus its 2024 result and outlines three conditional scenarios that could still trigger an early vote, focusing on polling improvements, policy divergence from the 2024 manifesto, and mounting political legitimacy pressures. Burnham stance and election risk paths “Andy Burnham has ruled out holding an early general election should he become prime minister, meaning the next election is not held until near the latest possible date in August 2029.” “Labour is polling 13ppts below its 2024 election victory share of the vote and could lose more than 200 seats in parliament if an election were held today (according to Electoral Calculus), potentially delivering a Reform UK-Conservative co
The post British Pound: Pound resilience faces political risks – Rabobank appeared on BitcoinEthereumNews.com. Rabobank’s Senior FX Strategist Jane Foley highlights that the British Pound (GBP) has been a strong G10 performer this year, supported by sticky United Kingdom (UK) inflation, Bank of England (BoE) rate expectations and inbound M&A flows. However, Foley warns that excess economic capacity, high government debt and political uncertainty around Burnham’s incoming Labour government and fiscal stance could weigh on GBP, with EUR/GBP seen higher by year-end. Feel good for now “The pound is the second best performing G10 currency in the month to date after the NOK. In the year to date the pound is fourth place in the G10 performance table. The UK’s recent history of sticky inflation and the swing in short-term interest rates at the start of the Iran war to pricing in BoE rate hikes can partly explain GBP’s resilience.” “Despite this month’s better tone, we don’t see GBP as being fr
The post US Dollar: Reserve role questioned appeared on BitcoinEthereumNews.com. Rabobank strategist Michael Every discusses contrasting views on the Dollar’s global role. Every cites Adam Tooze’s argument that the USD is now a “profit dollar” backed by rising asset prices, and counters that dismissing Dollar holdings on that basis is odd without an alternative Hamiltonian neomercantilist framework, underscoring realpolitik between financialisation and production. Debate over Dollar’s reserve status “Contrast that with the argument made by Adam Tooze in the Financial Times that the USD is no longer a global reserve FX but just a “profit dollar” backed by rising asset prices.” “There’s a vast realpolitik difference between financialisation and production but arguing one shouldn’t hold dollars because US assets appreciate is rather odd absent a counterargument for Hamiltonian neomercantilism which many, if not all, critics of the US also reject as the solution.” “See the op-ed today in t
The post Coinbase Gains UK License to Offer Stocks and Derivatives appeared on BitcoinEthereumNews.com. Coinbase has secured a key regulatory authorization in the United Kingdom, allowing the company to broaden its financial services beyond cryptocurrency trading. The approval marks a significant step in Coinbase’s strategy to combine traditional and digital finance under one platform. Consequently, UK customers will soon gain access to investment products that previously remained unavailable through the exchange. The expansion strengthens Coinbase’s position in one of Europe’s largest financial markets while supporting its long-term vision of providing a unified investing experience. Traditional Investments Join Coinbase Platform The new authorization enables Coinbase to introduce equities alongside cryptocurrency trading for retail investors. Additionally, institutional and professional clients will gain access to derivatives, including crypto, equity, and commodity perpetual future
The post Crypto Exchange Coinbase Wins UK FCA Approval for Stocks and Derivatives appeared on BitcoinEthereumNews.com. Crypto exchange Coinbase wins UK FCA approval to offer stocks and derivatives, expanding its regulated investment services for UK retail and institutional investors. Crypto exchange Coinbase has received a major regulatory approval in the United Kingdom. The approval will enable the company to provide stocks and derivatives as well as crypto trading. This is Coinbase’s largest product expansion in one of its biggest international markets. The company said the move supports its vision of becoming an all-in-one financial platform. Coinbase Expands Services in the UK Coinbase has been granted an investment services licence from the Financial Conduct Authority (FCA) in the UK. Earlier, the company registered as a crypto-asset business with the FCA in February 2025. It also has an e-money license. The new approval will enable Coinbase to offer traditional investment product
