Economic Update 18 Nov 2024 5 minute read
GBP/USD hits a four-month low and EUR/USD a one-year low as the dollar continues to make gains
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
Economic Update 11 Nov 2024 6 minute read
BoE cuts interest rate to 4.75%, but OBR forecasts uninspiring UK GDP growth
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
Article 04 Nov 2024 14 minute read
The potential impact of US Election 2024 on FX markets
The 2024 US election could impact FX markets, with potential USD fluctuations based on the winning candidate's policies and possible contested results.
Economic Update 04 Nov 2024 11 minute read
US Election – the drama will finally unfold.
Despite the huge changes promised by Wednesday's Budget, including £76bn a year in new spending and a near record increase in taxes, the reaction of currency markets was initially controlled. But as the US election approached, we started to see a sell-off in both UK Bonds and the Pound, which are now viewed as a riskier asset...
Economic Update 28 Oct 2024 5 minute read
Markets brace for UK budget unveiling
Following the UK general election in July, the first Labour budget since 2010 has been highly anticipated. Despite the press attention, speculation around many of the budget's outcomes has already begun, so the FX market reaction may...