Pound

Asian stocks notch records, pound stable after Labour Party's victory

A slowdown in hiring and small uptick in unemployment is forecast, would leave open the door for US rate cuts

King Charles III banknotes to enter circulation, may be rare for some time

The Bank of England said that new notes will only be printed to replace those depicting Queen Elizabeth II that are worn or to meet any rise in demand at a time when cash usage is in decline

Dollar dips across board as traders stay fixed on US rate cuts next year

The dollar index, which measures the U.S. currency against six rivals, fell to a fresh five-month low of 100.61. The index is on course for a 2.7% decline this year

Pound rises against euro as UK composite PMI hits a six-month high

Markets expect the BoE to start cutting interest rates from May, slightly later than the European Central Bank (ECB) or the Fed, which analysts say could support the pound

Treasury yields kept dollar firmly on front foot as others currencies fall

The combination of that and an agreement to avert a partial U.S. government shutdown sent benchmark Treasury yields to as high as 4.706% on Tuesday, a 16-year peak, in turn driving the dollar higher

Dollar up as data suggests Fed hawks will stay in control; yen fragile

The pound and the euro each declined about 0.1% against the dollar, which has recouped some of last week's losses, after having slid on hopes of a potential Fed change of tack.

Sterling rises as Sunak prepares to become PM, euro awaits ECB hike

Sunak will become Britain's next prime minister, Downing Street said on Monday. Sunak was due to meet King Charles on Tuesday morning before speaking outside No. 10 Downing Street

Rishi Sunak to be UK's first Indian-origin PM as his rivals quit the race

Youngest to the post in 200 years + Warns UK faces 'profound economic challenge' + FTSE 100 rises .6%

Yen slides further to 151 per US dollar, pound falls on UK turmoil

The dollar gained across the board, also pushing the Swiss franc to its lowest level since May 2019

Pound falls after BoE chief rules out extending help to stabilise markets

The pound sank against the dollar early on Wednesday after the Bank of England governor confirmed the bank won't extend an emergency debt-buying plan introduced last month to stabilise financial markets. Andrew Bailey said the programme will end on Friday as scheduled. The pound fell by almost 1 per cent to just below USD 1.10 after Bailey spoke, before rallying slightly. After the government's September mini-budget the currency hit a record low of USD 1.03. My message to the (pension) funds involved you've got three days left now. You have got to get this done, he said. Part of the essence of a financial stability intervention is that it is clearly temporary. The central bank stepped in after the British government on September 23 announced plans for 45 billion pounds (USD 50 billion) in tax cuts without saying how it would pay for them. The announcement spooked financial markets and sent the pound plunging to a record low against the dollar. The Bank of England intervened to pr

Dollar retreats as investors await US jobs data; euro, pound pares

The euro and the pound pared overnight losses and rose for the first time in three trading sessions, while the Japanese yen clawed back from another break through the key 145 level against the dollar

UK PM Liz Truss says tax cut was a right thing, will not change course

"We had to take urgent action to get our economy growing and that means taking controversial and difficult decisions," Truss said.

As dollar eases, pound rises by 1% as traders turn to BoE response

As the dollar eased, the pound rose 1% in Asia to $1.0805 and is up nearly 5% from Monday's low at $1.0327. The kiwi also rose 1%, its first gain in seven sessions, the euro rose 0.5% and the Aussie r

World shares mixed; British pound falls to all-time low on tax cut concerns

Global shares were mixed Monday while the British pound declined to an all-time low against the US dollar on concerns over planned tax cuts. France's CAC 40 rose 0.2% in early trading to 5,795.88, while Germany's DAX added 0.2% to 12,311.57. Britain's FTSE 100 edged 0.1% higher to 7,025.51. The futures for the Dow industrials and the S&P 500 were 0.1% lower. In Asian trading, Japan's benchmark Nikkei 225 shed 2.7% to finish at 26,431.55. Australia's S&P/ASX 200 dipped 1.6% to 6,469.40. South Korea's Kospi dropped 3.0% to 2,220.94. Hong Kong's Hang Seng gave up 0.4% to 17,855.14, while the Shanghai Composite lost 1.2% to 3,051.23. The British pound's slide against the dollar picked up pace last week after the UK's new government outlined plans to cut taxes and boost spending. The weakening currency piles pressure on the UK's new Conservative government, which has gambled that slashing taxes and increasing borrowing to compensate will spur economic growth. Many economists say .

Pound plunge the latest ill omen as stock markets down across the world

The pound plunged nearly 5% at one point in Asia trade to break below 1985 lows and hit $1.0327. Moves were exacerbated by thinner liquidity in the Asia session

Britain sends investors fleeing with historic tax cuts and borrowing

Pound slides below $1.11 for first time in 37 years

Euro, sterling plunge on dour business activity data, UK mini-budget

Sterling was set for its biggest weekly decline against the U.S. dollar in two years after it touched a fresh 37-year low of $1.1022. The pound was last down 1.9% at $1.1049.

Pound falls to weakest level since 1985 against dollar amid dire UK economy

The last time the sterling-dollar exchange rate was this low the world's richest nations signed the Plaza Accord, an agreement to weaken the US currency

ECB talk weighs on euro as Europe's stocks and pound fight off gas woes

Russia's gas would remain the "Damocles sword" hanging over Europe's economy, he added, while the scale of interest rate rises likely to come and the risk of recessions was still not fully reflected

Dollar touches 20-year high, but kept in check by euro, as rates in focus

The dollar index, which measures the currency's value against a basket of peers, scaled a fresh two-decade peak of 109.48 before retreating