Sterling slides for a fourth day amid bond market turmoil
4 days, 22 hours ago

Sterling slides for a fourth day amid bond market turmoil

Live Mint  

By Greta Rosen Fondahn Jan 10 - Sterling continued its slide on Friday, its fourth day of falls, as elevated global bond yields kept the currency under pressure. Global borrowing costs have soared amid concerns about rising inflation, reduced chances of a drop in interest rates, and uncertainty over how U.S. President-elect Donald Trump will conduct foreign or economic policy. Benchmark 10-year gilt yields edged up in early trading on Friday to around 4.84%, but remained below Thursday's high of 4.925%, their highest since 2008. Investors are now looking ahead to key U.S. jobs data published later in the session, to confirm their view that U.S. rates could stay higher for longer, which could cement the dollar's rally further.

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Sterling falls for fourth straight day to hit 14-month low after US jobs data, 30-year gilts highest since July 1998
4 days, 12 hours ago

Sterling falls for fourth straight day to hit 14-month low after US jobs data, 30-year gilts highest since July 1998

Live Mint  

British currency remained under pressure on Friday, January 10, from high global borrowing costs. British 30-year gilt yields rose 6.8 bps on the day to 5.447 per cent- their highest since July 1998. Sterling hits 14-month low after US jobs data The UK has been among the markets hardest hit by a surge in global borrowing costs, which most analysts …

London markets plunge after Fed decision hammers Wall Street
3 weeks, 5 days ago

London markets plunge after Fed decision hammers Wall Street

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FTSE 100 tumbled on …

Global stocks tumble and pound weakens as investors digest UK Budget
2 months, 2 weeks ago

Global stocks tumble and pound weakens as investors digest UK Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Top global markets tumbled into …

UK bond market rallies at sharpest pace in Europe amid interest rate hopes
1 year, 2 months ago

UK bond market rallies at sharpest pace in Europe amid interest rate hopes

The Telegraph  

The Government’s cost of short-term borrowing has fallen at the fastest pace in Europe today after the Bank of England’s chief economist raised hopes of interest rate cuts. The yield on two-year UK gilts, which are sensitive to moves in the outlook for interest rates, has dropped by eight basis points today to 4.61pc, its lowest level since June and …

As Rishi Sunak assumes PM's office, Pound seems to be on recovery path
2 years, 2 months ago

As Rishi Sunak assumes PM's office, Pound seems to be on recovery path

India Today  

Hours after Rishi Sonak became Britain's third Prime Minister in two months on Tuesday, the British Pound witnessed a surge on improved risk sentiment and the dollar dipped to a three-week low. The announcement of former British PM Liz Truss's tax-cut policy sent the Pound Sterling crashing to a record low against the US Dollar last month. "Beyond a brief …

The UK just stepped back from the brink. But there’s more trouble ahead
2 years, 2 months ago

The UK just stepped back from the brink. But there’s more trouble ahead

CNN  

London CNN Business — The decision by Jeremy Hunt, the new UK finance minister, to jettison the bulk of Prime Minister Liz Truss’ much-maligned plans to boost growth has come as a huge relief to investors, easing their worries about the sustainability of government finances. It said it sees “additional downside risks to growth” following Hunt’s announcements on Monday. “The …

Sterling turns positive as dollar wavers and PM Truss defends economic plans
2 years, 3 months ago

Sterling turns positive as dollar wavers and PM Truss defends economic plans

The Hindu  

Sterling fell as much as 1% on Thursday before cutting losses and turning positive as the dollar wavered and British Prime Minister Liz Truss defended the government's economic plans. Truss said big tax cuts were the right path for Britain and refused to consider reversing the so-called "mini budget" laid out last week, which triggered chaos in markets. Adam Cole, …

Bank of England to buy U.K. government bonds to stabilise financial markets
2 years, 3 months ago

Bank of England to buy U.K. government bonds to stabilise financial markets

The Hindu  

The Bank of England said on Wednesday that it would buy as many long-dated government bonds as needed between now and October 14 to stabilise financial markets, after a slump in British gilt prices since a government fiscal statement on Friday. Citing potential risks to U.K. financial stability, the BoE also said it would delay the start of a programme …

The British pound has taken a tumble. What’s the impact?
2 years, 3 months ago

The British pound has taken a tumble. What’s the impact?

Associated Press  

LONDON — The pound is taking a pounding. “There’s every chance that a falling pound will make life more expensive,” said Sarah Coles, senior personal finance analyst at financial services firm Hargreaves Lansdown. “For anyone whose budget was already stretched to breaking point, this will mean even more pain at the tills.” Finance minister Kwasi Kwarteng hopes that big tax …

Pound plunge, the latest ill omen as market stress rises
2 years, 3 months ago

Pound plunge, the latest ill omen as market stress rises

The Hindu  

Sterling slumped to a record low on Monday, and a renewed selloff in British gilts pushed euro-zone yields higher as the fall out from last week's fiscal statement in Britain roiled markets for a second session. Share markets around the world also slid as concerns about high interest rates continued to put pressure on the financial system, though in a …

British pound plummets to record low against the dollar
2 years, 3 months ago

British pound plummets to record low against the dollar

CNN  

CNN Business — The British pound crashed to a record low against the US dollar on Monday on growing fears about the stability of UK government finances. The currency slump follows British Chancellor of the Exchequer Kwasi Kwarteng’s announcement on Friday that the United Kingdom would implement the biggest tax cuts in 50 years at the same time as boosting …

British pound plummets to record low against the dollar
2 years, 3 months ago

British pound plummets to record low against the dollar

CNN  

CNN Business — The British pound crashed to a record low against the US dollar on Monday on growing fears about the stability of UK government finances. The currency slump follows British Chancellor of the Exchequer Kwasi Kwarteng’s announcement on Friday that the United Kingdom would implement the biggest tax cuts in 50 years at the same time as boosting …

Traders bet against sterling as parity with the dollar looms closer
2 years, 3 months ago

Traders bet against sterling as parity with the dollar looms closer

The Telegraph  

The first week of September saw the biggest jump in bets against sterling since November last year as Liz Truss won the Tory leadership race. Antoine Bouvet, strategist at ING, said that the pound “has been trading off fiscal concerns since early August”, calling it a “perfect storm” for UK assets. “Unless something can be done to address these fiscal …

British pound hits a 37-year low as UK economy skids
2 years, 3 months ago

British pound hits a 37-year low as UK economy skids

CNN  

London CNN Business — The British pound slumped to a 37-year low on Friday after new data showed that shoppers are pulling back spending as inflation squeezes household budgets, underscoring fears that the economy may already be shrinking. The currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that retail sales in August dropped …

The British pound hasn’t been this weak since Margaret Thatcher was prime minister
2 years, 4 months ago

The British pound hasn’t been this weak since Margaret Thatcher was prime minister

CNN  

New York CNN Business — The British pound fell to a 37-year low against the US dollar Wednesday as the United Kingdom grapples with a series of overlapping economic problems with no easy solutions. Meanwhile, Liz Truss is on her first full day in the job as the United Kingdom’s fourth prime minister since the Brexit vote in 2016, and …

Andrew Bailey warns of massive downturn as pound suffers biggest fall in two years
2 years, 8 months ago

Andrew Bailey warns of massive downturn as pound suffers biggest fall in two years

The Telegraph  

The pound suffered its steepest fall since the onset of the Covid crisis on Thursday as traders panicked after the Bank of England warned over a recession. Sterling fell as much as 2.2pc against the dollar to a near-two year low of $1.23 as analysts warned that a “toxic mix” of high inflation and stalling growth threatens to push the …

Pound falls as optimism fades in last-ditch Brexit negotiations
4 years, 1 month ago

Pound falls as optimism fades in last-ditch Brexit negotiations

Live Mint  

The pound declined as investors questioned how close Britain and the European Union really are to sealing a trade agreement. Monday Blues Traders had speculated on a weekend deal, but pessimism is solidifying, with the relative cost of hedging a weaker sterling over the coming month staging its longest advance in 17 years. “The risk now is that optimism turns …

UK currency volatile as investors try to gauge Brexit risks
5 years, 4 months ago

UK currency volatile as investors try to gauge Brexit risks

Associated Press  

LONDON — The pound on Tuesday touched its lowest level against the dollar since 1985, excluding a brief “flash crash” in 2016 that may have been caused by technical glitches, as international investors fret over a political showdown over Brexit this week. Brexit is facing a crucial few days as lawmakers challenge Prime Minister Boris Johnson’s insistence that the U.K. …

ALEX BRUMMER: Britain takes a pounding
5 years, 5 months ago

ALEX BRUMMER: Britain takes a pounding

Daily Mail  

The dilemma for Bank of England interest rate-setters as they head towards the August meeting and release of the Inflation Report gets tougher by the day. The sharp fall in sterling, as Britain's two prospective prime ministers harden their negotiating positions on Brexit, risks a disorderly few months ahead with the pound moving towards parity against the euro and the …

Sterling wipes out day’s gains amid reports PM is facing no-confidence vote
6 years, 1 month ago

Sterling wipes out day’s gains amid reports PM is facing no-confidence vote

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sterling plummeted on …

UK interest rates: Pound sterling drops sharply after Bank of England hike
6 years, 5 months ago

UK interest rates: Pound sterling drops sharply after Bank of England hike

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sterling’s decline coincided with the Bank’s press conference, during …

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