The British pound (GBP) is expected to conclude the week under significant pressure against the US dollar (USD) after weak economic statistics on Friday stoked concerns about a possible national economic recession. Base rates reached peaks not seen since 2008 (3.5%) on Thursday as a result of the Bank of England’s (BoE) 0.5% percentage point […]
After falling the previous night on lower-than-expected inflation statistics, the dollar (USD) was trading around its worst levels in months against the euro (EUR) and the pound (GBP) on Wednesday. This reinforced speculation that the US Fed will announce a slower rate hike path. The US apex bank is largely expected to raise interest rates […]
The British pound (GBP) dropped against the US dollar (USD) and the euro (EUR) on Thursday after the Royal Institution of Chartered Surveyors reported that Britain had the largest house price declines since the beginning of the COVID-19 pandemic in November. According to the survey, sales and demand from consumers both declined as a result […]
The early burst of investor excitement over the potential loosening of COVID restrictions in China has dissipated, and the pound (GBP) fell on Monday even though sterling was still within striking distance of five-month highs versus the dollar (USD). After China prepared to announce yet another batch of steps to loosen limits on activity, which […]
The Federal Reserve’s decision is expected to result in a 75 basis point rate hike, according to the majority of analysts, hence, the GBP/USD remains muted amid a tumultuous trading session. However, the majority of analysts anticipate some clarification from the Fed regarding the future course of interest rates. As a result, the GBP/USD exchange […]
The British pound dropped on Wednesday as investors weighed the prospects for interest rates following the elimination of the majority of the government’s “mini-budget” as statistics revealed that rising food costs drove British inflation into double digits last month. The pound was down 0.7 percent against the dollar at 1.12240 as of 11:30 GMT and […]
The British pound (GBP) clawed its way back from its previous crash as relief at the Bank of England (BoE)’s intervention in the bond market eased away. Sterling recorded its highest jump since mid-June yesterday after the BoE announced plans of an emergency bond-buying plan to support the freefall suffered by the economy and the […]
Esteemed Governor of the Bank of England (BoE) Andrew Bailey warned UK citizens about the dangers of investing in Bitcoin and cryptocurrency on the May 23 edition of the Jobs of the Future podcast. Bailey’s warnings come in the aftermath of the crypto market crash, which saw about $500 billion evaporate from the crypto community […]
