The British Pound was trailing behind both a broadly stronger Dollar and a generally softer Euro in midweek trade following another surprise increase from UK inflation rates and as financial markets fixated on rising U.S. bonds yields following yet more hawkish commentary from Federal Reserve (Fed) officials.
October 19,2022
Pound Sterling was left limping momentarily against the Dollar and Euro after Office for National Statistics data sugggested inflation rose further than expected in a September outcome that does little on its own to discourage the Bank of England (BoE) from raising interest rates aggressively in November.
October 19,2022
The British Pound rallied to a fresh six-week high against the Euro and approached October highs against the Dollar amidst broadly improved global investor sentiment and as markets welcomed the return of fiscal orthodoxy in the UK.
October 18,2022
The Pound rallied significantly early in the new week following the "mother of all u-turns" on the government's September spending plans that has prompted a rally by Sterling while eliciting a range of responses from analysts and economists, some of which are reproduced below.
October 18,2022
The British Pound extended gains on Monday after the UK government ripped up its plans to cut taxes and said its energy bill support programme would now end in April.
October 17,2022
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The British Pound was firm on Monday as markets gave their initial verdict of the new Chancellor, Jeremy Hunt.
October 17,2022
Owing to "current market issues" Prime Minister Liz Truss has announced the government would no longer cancel 2023's corporation tax hike.
October 14,2022
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