Category: pound
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Durham medical supplier clinches multi-million pound funding boost
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Forma-Care (UK) LTD, a leading supplier for Continution Care to NHS, has obtained an important financing package with the support of Leonard Cortis. The arrangement represents more than 5 million pounds of the financing that has been collected in recent years, ensuring that its headquarters in Durham can accelerate its…
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Pound sinks to nine-month low as recession fears grip UK manufacturing
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The pound fell to its lowest level since April after stark warnings from an influential survey that Britain could be on the brink of an industrial recession. The pound fell 1% against the dollar on Thursday, falling below $1.24, amid growing fears the UK economy is faltering. In stark contrast,…
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Pound hits 20-month high against Euro as ECB rate cuts loom
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The pound rose to its highest level against the euro in almost two years on Tuesday, rising 0.3 percent to €1.21. The pound’s rise comes amid growing expectations that the European Central Bank will cut interest rates further this week, as Europe’s largest economies struggle for momentum. The European Central…
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Pound set to reach highest level against US dollar since 2021, says Goldman Sachs
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Goldman Sachs expects the pound to rise to its highest level against the US dollar in more than three years, supported by strong economic growth in the UK and a gradual reduction in interest rates by the Bank of England. The US investment bank expects the pound to reach $1.40…
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Pound reaches two-year high as Bank of England holds interest rates steady
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The pound rose to its highest level since March 2022, breaking through the $1.33 level, after the Bank of England decided to keep interest rates steady at 5 percent and indicated a gradual approach to easing monetary policy. Sterling rose about 0.7 percent against the dollar, to $1.331, after the…
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Pound reaches two-year high as Bank of England holds interest rates steady
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The pound rose to its highest level since March 2022, breaking through the $1.33 level, after the Bank of England decided to keep interest rates steady at 5 percent and indicated a gradual approach to easing monetary policy. Sterling rose about 0.7 percent against the dollar, to $1.331, after the…
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Euro and pound hold near 13-month highs, euro zone data in focus By Reuters
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By Kevin Buckland and Alun John TOKYO/LONDON (Reuters) – The euro held near its highest in more than a year against the dollar on Thursday after strong euro zone business activity data and ahead of euro zone wage figures that will shape the European Central Bank’s interest rate path. The…
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Pound approaches the 2023 high in fifth straight day of gains
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We have reached the point where we need to zoom out to paint a clear picture of the forex market. A great example of this is Cable, where the daily chart shows that we are only 60 pips away from the July 2023 high. GBPUSD Daily If this is broken,…
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Pound ticks up after British GDP data, euro holds above $1.10 By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – Sterling edged up on Thursday after strong British GDP data, while the euro held above $1.10, close to a more than seven-month high hit the previous day, supported by data showing slowing U.S. inflation that boosted expectations for a Federal Reserve interest rate…
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First to hike, last to cut? BoE caution cossets pound: Mike Dolan By Reuters
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By Mike Dolan LONDON (Reuters) – Is it the first country to raise interest rates, the first to hit its inflation target and the last to cut rates? It may be unwise to read too much into the volatile and marginal bets on interest rates in financial markets, but for…
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UBS optimistic on British pound, sets EUR/GBP target at 0.8400 By Investing.com
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UBS has expressed a bullish outlook for the pound, citing recent comments from new UK Chancellor Rachel Reeves on the government’s growth agenda. Reeves stressed the limited scope of government spending, indicating that the administration will focus on supply-side reforms to stimulate investment and growth. UBS noted that despite similar…
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Dollar slips ahead of CPI release; pound gains after GDP strength By Investing.com
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Investing.com – The U.S. dollar was lower in early European trade on Thursday ahead of a key inflation report later in the session, while strong growth data boosted the British pound. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies,…
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Pound nears 2016 levels as election nods to new Brexit tack: Mike Dolan By Reuters
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Written by Mike Dolan LONDON (Reuters) – The sight of the pound hitting its highest levels since the 2016 Brexit referendum after a surprise election announcement in the United Kingdom is hard to ignore – and may signal hope on the sidelines of recovery from the economic damage linked to…