GBP/USD
UK inflation falls sharply to 1.7%, below Bank of England’s target for first time in over three years
The Canary Wharf business district is seen in the distance behind autumnal leaves on October 09, 2024 in London, United Kingdom. Dan Kitwood | Getty Images News | Getty Images LONDON — Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday. Economists polled by Reuters had expected […]
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A stunning sterling rally is about to collide with Britain’s political realities
LONDON — The British pound has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment. Many investors are awaiting the new Labour government’s fiscal plan at the end of October […]
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Europe stocks nudge higher; Sterling gains after UK wage growth falls to two-year low
European stocks closed higher last Friday as investors digested economic data from the region including a preliminary U.K. second-quarter GDP reading, July inflation prints out of France, Spain and Italy, and euro zone industrial production for June. Camilla Cerea | Bloomberg via Getty Images LONDON — European stocks were slightly higher on Tuesday, as market […]
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Banks get bullish on the British pound despite the possibility of an imminent snapback
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were […]
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UK plans law to prevent repeat of Liz Truss ‘mini-budget’ crisis that triggered bond sell-off
U.K. Prime Minister Liz Truss faces increasing pressure to resign. WPA Pool / Pool / Getty Images LONDON — The new U.K. government is on Thursday set to propose legislation to prevent “significant uncosted measures” from being announced without an analysis of their impact on public finances. The Labour government, which took power from the […]
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British pound breaches $1.3 for the first time in a year as Labour seen ushering in stability
LONDON — The British pound on Wednesday broke above the $1.3 level against the U.S. dollar for the first time in a year, as investors bank on a coming period of growth-friendly policies and political stability under the newly elected Labour government. Sterling was 0.49% higher at $1.3027 at 9:55 a.m. in London (4:55 a.m. […]
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Shares, assets, bonds, the pound: Here’s what a new Labour federal government usually means for investing in the Uk
Common perspective of Bishopsgate in the City of London, the capital’s fiscal district. The Uk financial system has reportedly witnessed a lot quicker expansion than in the beginning believed in early 2024. Vuk Valcic | Sopa Images | Lightrocket | Getty Pictures The U.K.’s Labour Social gathering won huge in Thursday’s election and is now […]
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Europe stocks decrease Carlsberg down 8% following bid rejected British isles retail gross sales defeat forecast
LONDON — European shares were reduce Friday early morning as investors monitored a slew of central financial institution selections and data releases. The pan-European Stoxx 600 index experienced prolonged losses to .85% by 11 a.m. in London, with bank stocks tumbling 1.8%. Carlsberg shares fell 8% soon after U.K. delicate drinks maker Britvic confirmed it […]
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History shows how a UK election can impact the country’s stock market
Labour leader Tony Blair arriving in Downing Street after his election victory with crowds waving flags in the background, 2nd May 1997. Jeff Overs | BBC News & Current Affairs | Getty Images LONDON — The U.K. is less than six weeks away from a General Election in which polls suggest the center-left Labour Party […]
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Stocks producing the most important moves midday: Eli Lilly, 3M, PayPal, Tesla and far more
Verify out the organizations earning headlines in midday trading. Eli Lilly — Shares additional 5% just after Eli Lilly, maker of the Mounjaro diabetic issues and pounds decline drug, defeat analysts’ expectations for to start with-quarter modified earnings. The Indianapolis-dependent drugmaker also lifted its complete-year steering for modified earnings and revenue. 3M — Shares jumped […]
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