US dollar this year has become the only asset in town September 20, 2022 Investors have had an insatiable appetite for US dollars this year. According to the Wall Street Journal’s dollar index, which measures the greenback against a basket of some of the world’s top currencies, the dollar is its strongest for over a decade. One dollar will buy you the greatest amount of Japanese yen since the [...]
Pound Sterling tumbles to 37-year low against US Dollar after poor UK retail sales figures September 16, 2022 Pound Sterling tumbled to a 37-year low against the dollar this morning, pushed further down by disappointing retail sales figures. It plummeted to by more than one per cent to 1.1351, its lowest against the dollar since 1985, while continuing its 17-month poor run against the Euro also. The Euro rose to 87.66 pence, its [...]
Pound sinks to lowest level against US dollar since 1985 September 7, 2022 The pound today sunk to its lowest level against the US dollar since 1985, driven by investors sweating over the health of the UK economy and a borrowing splurge. Sterling fell to $1.1406 briefly today, marking another dismal milestone for the currency. The last time the pound fell that low was when Margaret Thatcher was [...]
Pound on crash course to record low against US dollar September 1, 2022 The pound is on course to plunge to a record low against the US dollar driven by the UK tumbling into a tough recession, City economists warned today. Sterling will drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy Capital Economics. The downbeat [...]
Pound still at lowest level since start of pandemic amid government chaos July 6, 2022 The British pound is at its lowest level since the start of the Covid pandemic in March 2020 as the UK government faces a political crisis. The pound has slid 0.6% today to $1.1883 as a wave of ministers resigned from Boris Johnson’s government. Sterling initially dropped more than a cent to below $1.20 for [...]
Boost for the City as UK trading venues regain top spot for Sterling swaps with even greater share than before Brexit May 16, 2022 UK trading venues have recovered their position as the biggest location for on-venue execution of GBP interest rate swaps (IRS), giving them a greater market share than pre-Brexit. In fact, a third of all GBP swaps and 57 per cent of on-venue GBP swaps are now executed in UK venues, the highest ever recorded share, [...]
Sterling nudges lower as Boris moves to confirm 19 July unlocking July 12, 2021 Sterling nudged lower on Monday as the Prime Minister Boris Johnson moved to confirm plans to remove nearly all remaining COVID-19 restrictions in England from 19 July, despite cases currently at their highest since the end of January. Sterling fell 0.4 per cent to $1.385 against the dollar this morning, after jumping to above $1.39 [...]
Pound dips below $1.39 on mounting concerns over Delta variant June 29, 2021 Pound sterling dipped below $1.39 today as concerns about the Delta variant of coronavirus gather momentum. The pound was down 0.26 per cent against the greenback to buy $1.38 this afternoon. The fall suggests investors are concerned that the rapid spread of the Delta variant of coronavirus first identified in India could impact the UK’s [...]
Pound retreats after hitting three-year high amid variant concerns June 1, 2021 The pound retreated this morning after reaching a fresh three-year high versus the dollar amid economic recovery hopes. Well into the London session after the bank holiday weekend, sterling reversed its course to fall 0.2 per cent to $1.4183. The pound edged lower as concerns over a new coronavirus strain outweighed increasing investor optimism on [...]
Pound pushes past $1.42 on economic recovery hopes May 21, 2021 The pound pushed higher today and was on track for its third consecutive week of gains against the dollar after upbeat economic data lifted hopes for the UK’s post-pandemic recovery. New figures released this morning showed UK business activity expanded at its fastest rate since 1998 in May as the lifting of lockdown restrictions boosted [...]