Currency markets
Traders are lining up to short the British pound with a possible recession on the horizon
British Union flag, also known as a Union Jack, and an American flag at ETX Capital, a broker of contracts-for-difference. The pound has fallen more than 8% against the dollar, and is attracting short bets from traders as the British economy faces soaring inflation and a cost-of-living crisis. Chris Ratcliffe | Bloomberg | Getty Images […]
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UK confirms plans to change post-Brexit trade rules, risks retaliation from Europe
Truss had previously warned the U.K. would have “no choice but to act” if EU lawmakers do not show the “requisite flexibility” over the protocol. Janine Schmitz | Photothek | Getty Images British Foreign Secretary Liz Truss confirmed on Tuesday that the government intends to introduce legislation to make changes to the Northern Ireland protocol […]
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ECB’s Villeroy says too weak euro threatens price stability
ECB policymaker Francois Villeroy de Galhau. Eric Piermont | Afp | Getty Images The euro’s weakness on currency markets could threaten the European Central Bank’s efforts to steer inflation towards its target, ECB policymaker Francois Villeroy de Galhau said on Monday. The euro on Thursday hit its lowest against the dollar since 2017. It traded […]
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The UK is threatening to scrap Northern Ireland’s post-Brexit rules — stoking fears of a trade war
Johnson will visit Northern Ireland on Monday to hold emergency talks. Daniel Leal | Afp | Getty Images LONDON — The U.K. government is again threatening to unilaterally override large parts of the Brexit deal agreed with the European Union, raising the prospect of a trade war amid a power-sharing crisis in Northern Ireland. U.K. […]
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Bitcoin tumbles below $27,000 for first time since December 2020 as crypto sell-off intensifies
Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project. The price of bitcoin plunged […]
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Goldman strategist: This sector has been ‘unduly’ punished and could be a buy right now
Sharon Bell, a senior strategist at Goldman Sachs, has shared her favorite sectors after this week’s market madness. Source
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Philippine central bank chief says he’s ‘not concerned’ about recent peso weakness
There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar. As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters […]
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British pound plummets as Bank of England warns of recession risk
Sterling notes and coins are laid out Matt Cardy | Getty Images The British pound on Thursday was set for its largest daily drop since the onset of the coronavirus pandemic, after the Bank of England warned of a sharp growth slowdown in the U.K. economy. Sterling hit a low of 1.2393 against the dollar […]
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Bank of England chief defends cautious rate-hiking cycle, sees unprecedented shock to people’s income
Bank of England Governor Andrew Bailey. Simon Dawson | Bloomberg via Getty Images LONDON — Governor Andrew Bailey has sought to defend the Bank of England’s cautious approach to monetary tightening, saying policymakers are considering the wider picture of an inflation shock that the U.K. economy is now experiencing. The BOE may have completed its […]
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The dollar is surging, but these ETFs can stop it from taking a bite out of your portfolio
The dollar has risen sharply in April, but these international stock funds have a way to offset that. Source
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