Make 5 smart moves this fall to get your finances ready for the holidays

Spending tends to spike in the fall, as expenses for the holidays and travel costs begin adding up. Americans racked up more than $1,000 in holiday debt at the end of last year, according to MagnifyMoney’s annual post-holiday debt survey. Book holiday travel before HalloweenExperts say your best bet for getting a good deal on holiday travel is to book early. “Book both Thanksgiving and Christmas [flights] by Halloween,” Liana Corwin, a consumer travel expert with flight price-tracking app Hopper


Spending tends to spike in the fall, as expenses for the holidays and travel costs begin adding up. Americans racked up more than $1,000 in holiday debt at the end of last year, according to MagnifyMoney’s annual post-holiday debt survey. Book holiday travel before HalloweenExperts say your best bet for getting a good deal on holiday travel is to book early. “Book both Thanksgiving and Christmas [flights] by Halloween,” Liana Corwin, a consumer travel expert with flight price-tracking app Hopper
Make 5 smart moves this fall to get your finances ready for the holidays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: ivana pino, bob sullivan, myelle lansat
Keywords: news, cnbc, companies, ready, cost, moves, holiday, slow, finances, prices, thanksgiving, save, items, winter, holidays, smart, fall, travel


Make 5 smart moves this fall to get your finances ready for the holidays

Spending tends to spike in the fall, as expenses for the holidays and travel costs begin adding up. Americans racked up more than $1,000 in holiday debt at the end of last year, according to MagnifyMoney’s annual post-holiday debt survey. Finding creative ways to add room in your budget and cash in your pocket now can help you avoid that fate this year. Consider these five strategies:

1. Book holiday travel before Halloween

Experts say your best bet for getting a good deal on holiday travel is to book early. “Book both Thanksgiving and Christmas [flights] by Halloween,” Liana Corwin, a consumer travel expert with flight price-tracking app Hopper, told Grow earlier this year. “November is when we see prices start to spike.” And even earlier is better, if possible. If you do have some flexibility around when you leave for or come back from your trip, you can shave hundreds of dollars off your travel costs by avoiding peak travel days. For example, the cheapest day to fly around Thanksgiving is the Monday before, with average round-trip prices of $288, about 20% cheaper than Wednesday, according to Hopper.

2. Cancel your gym membership

If your fall schedule is already packed with travel, family celebrations, and other holiday events, cancelling your gym membership or putting it on hold might be better bets than letting it sit idle. Monthly gym membership fees can cost you anywhere from $10 at places like Planet Fitness to more than $200 at upscale chains like Equinox. If you decide you want to get back on the treadmill afterwards, you may be able to take advantage of new member promotions. If possible, hold off on getting a new membership until January, when a lot of gyms offer New Year’s bonuses for people hoping to fulfill their health or fitness-related resolutions.

Book both Thanksgiving and Christmas [flights] by Halloween. November is when we see prices start to spike. Liana Corwin consumer travel expert, Hopper

3. Lay off the thermostat

As temperatures cool down, you can cut your utility bill by 10% or more just by making small changes to your home. Prepare for winter by sealing any cracks around your home that could let in cold air and force you to crank up the heat, says Trae Bodge, smart shopping expert at Truetrae.com. “It’s inexpensive to do and you can save a lot on your heating bill once the cold weather hits,” he says. Another alternative is to invest in a smart thermostat, which automatically adjusts the temperature in your house depending on the time of day or whether you’re home.

4. Slow cook your favorite fall meals

Bodge says one way to cut down on the cost of food is to use a slow cooker during the fall and winter months, especially if you spent all summer dining out. Many popular slow cooker recipes like chicken tacos or beef stew can cost as little as $5 to make, or can feed the whole family for under $2 per person. With a slow cooker, you can add in all the ingredients for your meal at once, and since it turns off by itself, you are free to use your time to complete other items on your to-do list.

Graphic preview Big Savings Buying Target’s own brand instead of name-brand products can save you big bucks on your grocery bill. Here are some items that will save you the most. Product cost Note: Prices listed are for Target locations in Manhattan. kiersten schmidt/grow Target.com

“Cook easy and inexpensive soups and casseroles instead of going out,” says Bodge. Maximize savings by cooking with seasonal vegetables like winter squash and beets, which are up to 50% less expensive than out-of-season produce. To save even more, consider purchasing store brand ingredients for certain items, which typically cost about half the price of name-brand items, according to a report from Policygenius.

5. Start holiday shopping now


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: ivana pino, bob sullivan, myelle lansat
Keywords: news, cnbc, companies, ready, cost, moves, holiday, slow, finances, prices, thanksgiving, save, items, winter, holidays, smart, fall, travel


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Doing this when buying a home can ‘put your future at risk,’ expert says

Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba


Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. Over half, or 53%, of millennials say they’re saving. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers. Putting ‘your future at risk'”Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Ba
Doing this when buying a home can ‘put your future at risk,’ expert says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


Doing this when buying a home can 'put your future at risk,' expert says

To save for a down payment on a new home, some millennials are getting creative, according to a recent survey of prospective homebuyers from Bankrate.com. But one of their strategies in particular, experts worry, may be shortsighted, and even risky. Bankrate polled 2,582 adults, including 789 millennials ages 23-38, and asked participants how they are funding their down payments and closing costs. (Respondents could pick multiple answers.) Over half, or 53%, of millennials say they’re saving. Some are taking more drastic steps: 14% say they’ve moved in with family or friends to cut down on expenses, and 12% are selling personal items such as jewelry, cars, or electronics. And 13% of millennial respondents say they’re tapping their retirement accounts, as compared to 8% and 7% of Gen Xers and baby boomers.

Graphic preview How people find the money to buy homes Millennials tend to use more sources to fund the down payment and closing costs on their first homes than other generations. Social chart title Note: Respondents could choose more than one answer. kiersten schmidt/grow Bankrate

Here’s why experts suggest you think twice before dipping into your retirement fund.

Putting ‘your future at risk’

“Tapping into retirement savings is a risky move that can put your future at risk,” says Deborah Kearns, a mortgage analyst for Bankrate. “By and large, homeownership has long been touted as the way you build wealth,” she says. “While that’s still true to some extent, you can’t overextend yourself to make that happen.” Mark LaSpisa, a certified financial planner and president of Vermillion Financial Advisors in South Barrington, Illinois, agrees. While there may be some cases in which putting equity from retirement savings into a home may make sense, the “psychological, habit-forming” component of drawing down from your retirement savings is a concern, too: “It’s easy to think, ‘I broke the seal, and now I can go in and raid my IRA for any reason,'” he says.

By and large, homeownership has long been touted as the way you build wealth. While that’s still true to some extent, you can’t overextend yourself to make that happen. Deborah Kearns mortgage analyst, Bankrate.com

Generally, when you pull from a retirement account before you reach age 59½, your withdrawal is considered an “early” or “premature” distribution. That means the money is subject to taxes and a 10% penalty. Traditional and Roth IRAs make an exception for first-time homebuyers, letting you avoid those consequences. But even if you’re not incurring additional costs in the short-term, you may well be setting yourself back over the long term. Let’s say you decide to take $10,000 out of your retirement account to put toward a first-home purchase, and you’re 32, the average age of first-time buyers. If you instead left that money in the account and it saw average returns of 8% over the next 33 years until you retire at 65, those funds would have grown to more than $126,700. But growing your retirement savings thanks to compounding interest is only part of why experts recommend leaving that $10,000 alone. If you chip away now at what you’ve already saved, you might find it harder to stay on track later with your retirement goals, should you experience a job loss or other financial emergency that affects your ability to save. For all of these reasons, Suze Orman’s advice is to leave the money in your retirement accounts alone. “Do not take a loan, do not make withdrawals, do not touch your retirement accounts,” Orman told CNBC Make It last year. “Because if you think you need that money now, I’m here to tell you you’re going to need it even more later on in life when you no longer have a paycheck coming in.”

Taking the long view


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: alizah salario, bob sullivan, ivana pino, myelle lansat
Keywords: news, cnbc, companies, buying, future, say, long, savings, think, financial, retirement, risk, respondents, money, expert, youre, millennials, doing


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Reality-star-turned-fraudster highlights the risks of house flipping

Recession fears could lead to some harsh realities in the house flipping marketA combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. Denchfield says he has been flipping homes since he was 17 (he is now 25). Data from the first three months of this year suggests the flipping market has already begun to cool off. Flippers turned around more than 49,000 homes in t


Recession fears could lead to some harsh realities in the house flipping marketA combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. Denchfield says he has been flipping homes since he was 17 (he is now 25). Data from the first three months of this year suggests the flipping market has already begun to cool off. Flippers turned around more than 49,000 homes in t
Reality-star-turned-fraudster highlights the risks of house flipping Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: scott cohn, ajcasanova, getty images
Keywords: news, cnbc, companies, getting, highlights, house, sales, flipping, realitystarturnedfraudster, real, quarter, recession, market, homes, risks, flippers


Reality-star-turned-fraudster highlights the risks of house flipping

Recession fears could lead to some harsh realities in the house flipping market

A combination of low interest rates, tight inventory and a booming economy has created near-ideal conditions for house flippers who buy property, fix it up, then sell it for a quick profit. But prospects of a recession could quickly change that equation, experts warn.

“We’re certainly reaching the top of the bubble,” said Taylor Denchfield, a Washington, D.C.-area real estate broker, in an interview with CNBC’s “American Greed.”

Denchfield says he has been flipping homes since he was 17 (he is now 25).

Data from the first three months of this year suggests the flipping market has already begun to cool off.

Flippers turned around more than 49,000 homes in the first quarter, according to real estate research firm Attom Data Solutions. That represented 7.2% of all home sales for the quarter, which was the highest rate since 2010. But profits from those sales declined by nearly 10% from the same period one year ago. The average return on investment — 38.7% — was the lowest since mid-2011. And the number of flippers dropped 11%.

“Investors may be getting out while the getting is good, before the market softens further,” said Todd Teta, chief product officer at Attom.

But Denchfield said that is no reason to panic.

“There is still some money to be made, but you have to be a lot more diligent in the deals that you’re doing today,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: scott cohn, ajcasanova, getty images
Keywords: news, cnbc, companies, getting, highlights, house, sales, flipping, realitystarturnedfraudster, real, quarter, recession, market, homes, risks, flippers


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China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
China adds US agricultural products to tariff exemptions ahead of trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


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‘Stop the WeWork deal’ — Cramer says the embattled IPO could wreck the stock market rally

CNBC’s Jim Cramer said on Friday that WeWork should pull its embattled initial public offering because the negative sentiment around slashing its valuation could be contagious in the overall stock market. “Stop the WeWork deal,” Cramer said on “Squawk Box.” “I don’t want WeWork at any price,” Cramer said. SoftBank invested $2 billion in WeWork in January at a valuation of $47 billion. On Friday, in an amended IPO filing, the We Company, owner of WeWork, announced plans to list on the Nasdaq.


CNBC’s Jim Cramer said on Friday that WeWork should pull its embattled initial public offering because the negative sentiment around slashing its valuation could be contagious in the overall stock market. “Stop the WeWork deal,” Cramer said on “Squawk Box.” “I don’t want WeWork at any price,” Cramer said. SoftBank invested $2 billion in WeWork in January at a valuation of $47 billion. On Friday, in an amended IPO filing, the We Company, owner of WeWork, announced plans to list on the Nasdaq.
‘Stop the WeWork deal’ — Cramer says the embattled IPO could wreck the stock market rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: matthew j belvedere
Keywords: news, cnbc, companies, wework, plans, cramer, market, billion, ipo, dont, money, wreck, stock, embattled, company, valuation, softbank, deal, rally, stop


'Stop the WeWork deal' — Cramer says the embattled IPO could wreck the stock market rally

CNBC’s Jim Cramer said on Friday that WeWork should pull its embattled initial public offering because the negative sentiment around slashing its valuation could be contagious in the overall stock market.

“Stop the WeWork deal,” Cramer said on “Squawk Box.” “We don’t want that deal. I just wish they would go away.”

Despite a number of a setbacks, including a dramatic cut in its valuation, the office-sharing start up said it’s full speed ahead, with sources telling CNBC the IPO roadshow could kick off as soon as Monday.

“I don’t want WeWork at any price,” Cramer said. “There are certain deals that can come and they can just really take the air out of any market.”

WeWork’s plans to move forward despite the reported advice from its major investor SoftBank, which will likely face a multibillion dollar write down if the company debuts at a valuation between $15 billion and $20 billion. SoftBank invested $2 billion in WeWork in January at a valuation of $47 billion. On Friday, CNBC’s David Faber was hearing the valuation could be $15 billion or lower.

“Why can’t they just say, ‘Hey, we’re awful and we’re going to wait until we’re good again,'” Cramer said. “We don’t want to give them money. They’re just going to screw up the market,” the “Mad Money” host added.

On Friday, in an amended IPO filing, the We Company, owner of WeWork, announced plans to list on the Nasdaq.

Addressing sharp criticism over its corporate governance, WeWork also reduced founder and CEO Adam Neumann’s voting power. The filing also said that “no members of Adam’s family will sit on our board.”

Earlier this month, WeWork announced that Neumann would return a controversial $5.9 million trademark payment. The company also appointed its first female director to the board.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: matthew j belvedere
Keywords: news, cnbc, companies, wework, plans, cramer, market, billion, ipo, dont, money, wreck, stock, embattled, company, valuation, softbank, deal, rally, stop


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US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d


If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d
US–China trade war optimism? Big companies are not buying it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. Some investors are buying it — literally — with recent gains in stocks attributed to positive signals from the U.S. and China after a volatile August. But there’s one group of market insiders not buying the talk: corporate executives. In other words, the people who run the companies whose publicly traded shares have been rebounding. Top executives in the U.S. and around the world are not placing bets that the U.S.-China trade war will be resolved anytime soon. In fact, corporations say they expect to feel the pain of trade tensions over the next six months, according to the third-quarter CNBC Global CFO Council survey. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. Chief financial officers also downgraded their view of the U.S. economy, from “improving” to “stable.” If a trade deal remains elusive, even that stability may not last long. “With this level of uncertainty between the U.S. and China, I would think ‘stable’ might actually be a win a couple of quarters from now,” said Jack McCullough, president and founder of the CFO Leadership Council, an executive networking group. “I cannot recall when CFOs were as jittery about a change in policy as they are today.” The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $5 trillion in market value across a wide variety of sectors. The Q3 2019 survey was conducted between Aug. 21 and Sept. 3 among 62 global members of the council.

Trade is the biggest risk factor

Thirty-five percent of CFOs cited U.S. trade policy as the “biggest external risk factor,” which was more than double the second biggest risk highlighted: “consumer demand.” Fears about trade were up from 22% in the second quarter. There was an important split between U.S. CFOs and those based around the world. Thirty-five percent of U.S. CFOs cited consumer demand as the top external risk factor, which can be explained by the fact that the resilience of the U.S. economy, in spite of slowdowns in Europe and China, has been based on consumer strength. What is the biggest external risk factor currently facing your business? — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. About sixty-five percent said trade policy will be a negative for their business over the next six months. In Q2 that had dropped to 40% — possibly due to a prevailing and false sense of security that a deal would be easier to achieve than has proven to be the case — but it is now back up to a level consistent with the Q3 2018 through Q1 2019 surveys. “The surprise may be that only about 65% of CFOs view that trade policy will be a negative for their organizations,” McCullough said. “While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. … It is uniformly negative for their business, at least in the eyes of finance chiefs.”

While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. Jack McCullough president and founder, CFO Leadership Council

McCullough noted that his networking group offers an online forum for more than 1,100 chief financial officers to discuss issues of importance to their business. He said there never has been a question that he can recall about government policy that has dominated discussion as much as the trade policy has recently. That discussion has included whether manufacturing is moving and strategies for dealing with tariffs. “It is top of mind, and they are not confident they will emerge from this unscathed,” he said. Nearly half of North American CFOs surveyed by CNBC said they are facing higher input costs, and more than one-quarter said they have increased prices to offset those costs. They were more likely than European or Asian counterparts to say they have experienced higher costs and passed on those costs to customers. And more likely to say they have moved operations to minimize the impact of tariffs, though that was less than 20% of CFO respondents. While U.S. CFOs indicated in the survey that they were not confident about increasing their capital spend, less than 10% said they had delayed or canceled projects because of trade policy. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The daily headlines can be tougher to measure. On Thursday alone, news broke that the U.S. and China were considering an interim trade deal, but a few minutes later a senior White House official told CNBC no such deal was in the works. President Donald Trump did agree to delay increasing tariffs on $250 billion worth of Chinese goods from Oct. 1 to Oct. 15 as a “gesture of goodwill,” and that move was matched by China, which said it would restart purchase of some U.S. agricultural products. Then later in the day, President Trump told reporters he would be open to an interim trade deal with China but would prefer a lasting deal. “It’s something we would consider, I guess,” Trump said. The U.S. and China have agreed to meet again at the negotiating table in October, a plan that was reported after an early September phone call between Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. CFOs view of the trade war is not yet influencing their thinking about President Trump’s reelection chances. The survey found the majority of CFOs of the belief that Trump will be reelected in 2020 and the U.S. economy will not slip into a recession next year.

Trade weighing on business investment


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


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Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e


Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e
Sterling soars to 7-week high on optimism of a Brexit breakthrough Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling rose to its highest level since late July on Friday as momentum appeared to swell behind the idea that Britain won’t leave the European Union without a formal deal.

Shortly after11 a.m. in London, the pound had risen 1% for the session to reach $1.2456. Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low.

The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop.

The DUP has long rejected the backstop — an insurance policy against any hard border within Ireland — as any part of the Brexit process. DUP leader Arlene Foster once described her party’s opposition as a “blood red” line.

Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.”

Despite that rebuttal, sterling clung on to its gains and even took a further leg higher.

Kit Juckes, chief foreign exchange strategist at Societe Generale, said in his daily research note Friday that the Times report had triggered some traders to cover off their short positions on sterling. Short positions are where traders bet against an asset, believing it will fall in price, in order to make a profit.

Juckes cautioned that it was now “very late in the day” for U.K. Prime Minister Boris Johnson to arrange a fresh deal that would satisfy lawmakers in Belfast, London and Brussels.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


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