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...
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...
The 2024 US election could impact FX markets, with potential USD fluctuations based on the winning candidate's policies and possible contested results.
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...
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...
Last Wednesday’s UK inflation report showed that inflation has slipped below the Bank of England’s 2% target for the first time in three and a half years. Core inflation also fell below the forecast 3.4% to 3.2%, while service inflation decreased from...
The coming days will see a series of market events that will could inject some volatility into what was a very quiet last week.
Largely driven by conflict in the Middle East, currency markets saw very high volatility in the first week in October. As traders took the common run to safety, the USD strengthened, while the GBP dropped by more than 2% against it.
The UK’s GDP rose by 0.5% in the second quarter versus the first quarter, and increased by 0.7% compared with last year’s Q2. While these figures were slightly below the expected level, the economic outlook has improved considerably since the start of the year, mainly because inflation is back on target, interest rates are starting to come down and there...
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