Pound endures week of misery amid gilt sell-off Markets The pound came in as the worst-performing G10 currency for a second day running yesterday, as the gilt market continues to trade at decade-long highs. After spiking as high as $1.255 on Tuesday, the pound has since fallen to $1.229, its lowest point since October 2023. “What makes the current situation particularly noteworthy is that [...]
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ Economics Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]
Pound sterling set for worst week all year as markets reassess path for interest rates Markets The decrease has knocked sterling from its remarkably strong start to the year, which has seen it outperform all other major currencies.
Pound’s strength against the dollar risks ‘damage’ to UK’s competitiveness September 25, 2024 The pound reaching its highest level in over two years against the dollar risks damaging the international competitiveness of the UK, City analysts have warned. Sterling now sits at $1.34, its highest since February 2022 and far from its low point of $1.03 in the days after Liz Truss’ mini budget. However, while the strength [...]
Pound’s rally fades ahead of crucial US jobs data September 3, 2024 The pound’s stunning rally has stalled as traders look for direction amid a quiet week in the data calendar for the UK. Sterling was trading 0.2 per cent lower against the dollar at around $1.311 having lost over one per cent against the greenback in the past five days. The dollar has been trading around [...]
Pound set to continue surge against dollar as interest rate cuts slow September 2, 2024 The pound is set to be one of the world's top-performing major currencies this year, according to Bank of America, amid expectations of “above trend growth” in the UK economy and slower interest rate cuts,
Pound sterling reaches two-year high against the dollar as interest rate bets diverge August 27, 2024 The pound was trading just under 0.2 per cent higher against the dollar at $1.322 having traded just below $1.3250 earlier in the day.
Pound edges above $1.30 as Fed expected to cut rates in September August 20, 2024 The pound has not traded above $1.30 on a sustained basis since mid-2022.
Bullish analysts think sterling’s rally will continue despite chance of interest rate cuts July 23, 2024 Sterling has been one of the strongest performing currencies this year on the back of sticky inflation and stronger than expected growth.
Sterling soars to multi-year highs as investors flock to ‘safe haven’ UK July 12, 2024 Higher interest rates benefit domestic currencies, because international investors are able to earn a higher return on their investments.