Sterling Dips Amidst Fed Meeting Anticipation, BoE Rate Cut Speculation
The British pound experienced a decline against a strengthening US dollar on Wednesday, despite initial resilience to British data, as investors awaited the outcome of the Federal Reserve’s policy meeting. The pound’s resilience was notable against the Japanese yen, reaching an 8-1/2-year high, buoyed by the Bank of Japan’s decision to exit its negative interest […]
Despite UK economic slowdown, Sterling has raised against dollar
Sterling rose against the dollar and edged up on the euro. This is despite official data showing Britain’s economy grew more slowly than previously thought before the recent Omicron variant surge in COVID cases. Official data shows that the British gross domestic product grew by 1.1% in the third quarter between July and September. This […]
Sterling little changed by Britain’s 4.8% GDP growth in Q2
Sterling edged lower as analysts expected the Bank of England to make no imminent moves in its monetary policy after official data showed Britain’s economy grew in line with expectations in the second quarter. The Office for National Statistics said that the economy grew by 4.8% in the second quarter. Sterling was little changed and […]
Sterling steady above $1.39 before Bank of England meeting
Sterling steadied around $1.39 against the dollar, buoyed by risk sentiment in markets, optimism over the outlook for COVID in Britain and some anticipation of a hawkish turn from the Bank of England when it meets. Britain’s pound has rebounded after most lockdown measures in England were dropped on July 19. After that it has stayed mostly […]
Dollar steady, sterling slips ahead of Bank of England meeting
The dollar slipped slightly in early European trade. This is after it have spent a week gradually edging away from two-month highs hit after the U.S. Federal Reserve’s surprise hawkish shift at its meeting. As traders weighed up different signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus, currency markets […]