Range trading has been a dominant feature of foreign exchange markets for more than a year now, especially for nearly all the major currencies.

A crash-out Brexit or a shock that turned off the flow of corporate tax receipts would keep Irish sovereign debt at elevated levels for many years to come, the Central Bank has warned.

Growth in UK-exposed Irish stocks slowed yesterday and sterling was unmoved against the euro, after two days of rises, amid warnings that the chance of a no-deal Brexit occurring at the end of next month remains significant.

In the coming days, markets may probe and call the bluff on Boris Johnson's threat to crash Britain out of the EU, setting up a full-blown currency crisis well before the Brexit deadline he has set to get out with or without a transition deal by Halloween.

The fall of Theresa May pushed sterling slightly higher, but only after the currency had fallen sharply in the past week on the prospect her probable successor, hard Brexiteer Boris Johnson would drive Britain out of the EU without a deal.

Sterling steadied after initially posting further large losses on UK political fears but shares in Europe and the US were hit as the fallout of the US-China trade war extended to Chinese champion Huawei and the world’s chip makers for mobile phones.

The euro’s stagnant start to the year might be ending as signs emerge that Europe’s economic growth is reviving.

Sterling slid against the euro as the request by Prime Minister Theresa May for a Brexit extension increased market tension over the latest drama in British politics.

It is an indication of how terribly destructive the last recession was that when economic indicators — what might be called the “Boomier and Boomier Index” — performs well it provokes as much apprehension as it does celebration.

Sterling fell against a resurgent dollar and London’s Ftse 100 was weighed down as jitters about Britain crashing out of the EU with no deal returned to trouble investors.

European shares and the euro fell as the EU cut back its growth outlook, citing “substantial” risks from trade wars, a slowing Chinese economy, and the uncertainty of Brexit.

Sterling fell back amid uncertainty over whether British parliamentary votes on Tuesday will make it less or more likely the UK crashes out of the EU.

European shares fell back after rebounding at the end of last week, as lingering worries about the eurozone economy, Brexit, and the US government shutdown offset hopes for a truce between Washington and Beijing over trade.

In January 1999, the ‘third stage’ of Economic and Monetary Union officially started. Since then, the euro currency has survived crises and critiques, writes Daniel Gros.

This week marks the 20th anniversary of the start of EMU--the European Economic and Monetary Union.