pound

Britain Pound Sinks As PM Liz Truss Fires Finance Minister

October 14, 2022 8:40 pm

More woes are in line for the economic future of the United Kingdom as the pound had nose dived against the dollar on Friday which is coming on the heels of the British Prime Minister, Liz Truss sacking her finance minister, Kwasi Kwarteng in response to a budget that sparked markets chaos.

The Pound Sterling had reportedly sank 1.2 percent to $1.1188 after Prime Minister Liz Truss had finally dismissed the chancellor of the exchequer and it has been seen that the yield on the 10-year UK government bond dipped to 3.98 percent. It had hit 4.64 percent Tuesday amid …

British Pound Rises On Brexit Draft Deal

October 17, 2019 10:41 am

Pound soared Thursday to within a whisker of $1.30, striking five-month peaks after the European Union reached a draft Brexit withdrawal deal with London.

The pound quickly rose more than one percent to $1.2990 before profit-taking set in. The euro slid to 85.76 pence as the news flashed across traders’ screens.

The British capital’s benchmark FTSE 100 shares index meanwhile accelerated gains to stand 0.6 percent higher compared with Wednesday’s closing level.

British Prime Minister Boris Johnson will still have to take the accord to a sceptical UK parliament for its backing on Saturday.

It is unclear how many of …

British Pound Resumes Drop At Start Of Key Brexit Week

October 14, 2019 11:32 am

The British pound slid against the euro and dollar Monday, the start of a pivotal week for Britain and the European Union to strike a Brexit deal.

European stock markets also retreated as weak Chinese data offset a partial trade deal between China and the United States, analysts said.

Asian investors had earlier Monday saluted the trade deal, sending regional equity markets rallying, though observers were skeptical about the overall significance of the agreement.

Official data meanwhile showed Chinese imports and exports fell more than forecast in September, as US tariffs and cooling demand at home and abroad hit trade …