UK pound goes up
On Thursday, the UK currency managed to ascend after news that British Prime Minister Theresa May had support from her government for a draft Brexit pact secured…
British pound sheds day’s revenues as UK inflation dips
On Tuesday, the British pound declined to the day’s minimums, cutting early gains after data demonstrating that the annual rate of inflation in the UK edged down for the first time since October the previous month.
The currency pair GBP/USD slumped 0.25% being worth 1.3024, drifting away from an earlier peak of 1.3125.
The Office for National Statistics told that in June consumer prices rallied 2.6%, down from a nearly four-year peak of 2.9% in May.
Financial experts had expected the inflation rate to stay intact.
It turned to be the largest drop in inflation since February 2015. It relieved pressure on the Bank of England to lift interest rates.
Since the previous year’s Brexit vote inflation has accelerated abruptly because the steep sag in the British pound bolstered import prices, causing fears over a squeeze on living standards considering wages lagging soaring prices.
The Bank of England is expected to hold its next policy gathering on August 3. Previously, at the bank's June meeting up to three policymakers backing lifting rates.
The British pound was at the day’s minimums versus the common currency, with EUR/USD soaring 0.66% trading at 0.8850.
Similar
Evergreen buck pares back profits after inflation data
On Wednesday, the major US currency managed to pare back earlier profits…
Evergreen buck keeps to 2018 maximums
On Tuesday, the evergreen buck kept to the highest levels of 2018 against the backdrop of hopes for higher American interest rates, while the UK currency rebounded from one-and-a-half week minimums notwithstanding everlasting Brexit uncertainty…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
