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 […]
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 […]
Monday saw a decline in the pound (GBP) versus a rising dollar (USD) as mounting COVID-19 cases in China, the world’s second-largest economy, prompted further restrictions. As China deals with rising COVID cases, the risk-sensitive sterling was down 0.6% at 1.1816 and on pace for its biggest daily loss versus the US dollar in two […]
In anticipation of the 2018 budget from Finance Minister Jeremy Hunt, which includes “tough but essential” measures to curb inflation, the pound (GBP) depreciated against the dollar on Thursday. Hunt, who replaced Kwasi Kwarteng as chancellor under former UK Prime Minister Liz Truss, intends to close a gap in the British budget of 55 billion […]
In anticipation of this week’s UK government budget, the pound (GBP) climbed to its highest level in almost three months against the US dollar (USD) on Tuesday, partly as a result of the tension mounting on the dollar. Sterling increased by as much as 2% against the dollar to reach its highest level since late […]
Investor attention was on US inflation data and the midterm elections on Tuesday, which caused the British pound (GBP) to decline while the dollar (USD) soared. That said, the October consumer price index (CPI) will be released on November 10 and will likely shake the market. Investors from around the world will closely examine it […]
On Monday, the risk-on mood prevailed throughout markets, with European stocks soaring on persisting hopes China could relax COVID rules. As a result, the euro (EUR) and sterling (GBP) appreciated versus the safe-haven U.S. dollar (USD). According to a survey released on Monday, investor sentiment in the eurozone climbed in November for the first time […]
After losing 2% as a result of the Bank of England’s (BoE) highest interest rate hike in three decades, the pound rebounded on Friday but was still on track for its greatest weekly loss in six weeks. Pound Records Worst Weekly Decline Against the Dollar Since Truss’ Era The pound was trading at $1.1236, up […]
