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Market is more concerned about growth, says economist
... hasn't gone back to pre-pandemic levels because we lost a lot of workers, she said. International investors don't like that, and it puts a lot of pressure on the pound, and that in turn feeds into the economy, he said. The price of petrol is high because sterling has been weak. The price of crude oil and the pound's performance against the dollar are the reasons why crude oil is traded in dollars, which is a reason why the pound is changing its prices at the pump for petrol.
Updated: 07/08/2022
Asian markets rebound as Wall Street rebounds
... TOKYO Asian shares followed overnight Wall Street gains in early trading on Friday, as fears of an economic slowdown cooled as sterling began to claw back recent losses. Japan's Nikkei index was up 1.23 percent at 26,817, up 1.23 percent. It has reached ... ... chances of a harder landing. The market reaction is more simplistic than you might think. After experiencing a rocky few days, the pound rose 0.22 percent to 1.20530 and is now back to where it was at the beginning of the week. Carol Kong , Commonwealth Bank ...
Updated: 07/08/2022
Asian markets track Wall Street gains ahead of payroll data
... TOKYO Reuters Asian shares followed overnight Wall Street gains in early trading as fears of an economic slowdown cooled as sterling began to claw back recent losses following British Prime Minister Boris Johnson's decision to resign. Japan's index was ... ... chances of a harder landing. Sometimes the market reaction is more simplistic than you might think. After a rocky few days, the pound rose 0.22% to 1.20530 and is now back to where it was at the beginning of the week. The weakening prospect of the U.K. economy,...
Updated: 07/08/2022
FTSE hits record high after Johnson’s resignation
... Minister on Thursday. The domestically focused FTSE 250 index hit a session high after media reports said Boris Johnson will announce his resignation as British Prime Minister on Thursday. The FTSE 100 FTSE , which tends to benefit from a weaker pound, gained 1.2% by 0825 GMT. The FTSE 250 midcap index FTMC, more exposed to the domestic economy, climbed by 0.9% to hit a session high. The GBP D 3 jumped by 0.5% after the media reports. The currency hit a two-year low against the dollar on Wednesday ...
Updated: 07/07/2022
FOREX-Euro weakens as energy woes cast shadow on outlook
... Wednesday, for the first time since late 2002. The dollar index - which measures the currency against six peers including the euro, sterling and yen - held close to a 20 year peak at 107.27 reached overnight, last changing hands at 107.03. Germany's Chancellor ... ... respondents think it will be weaker than it is now, with four of those predicted a surge to 140, according to a Reuters poll. The pound was close to a two-year trough, with British Prime Minister Boris Johnson fighting to keep his job amid growing rebellion ...
Updated: 07/07/2022
Dollar to remain strong in the next three months, FX poll shows
... there is a lack of alternatives to keep it well-bid against nearly all currencies. The euro, the Japanese yen, and the British pound, whose central banks have not hiked rates or failed to keep pace with the Fed 's aggressive policy tightening, have weakened ... ... median 12 month euro prediction in five years, and nine analysts expect it to reach or breach parity by mid- 2023. JPY POLL sterling, down nearly 12% against the dollar since the beginning of the year, is expected to regain half of its lost ground in ...
Updated: 07/07/2022
FOREX-Dollar holds 20-year highs as recession fears linger
... reaction and sped the euro's drop as it broke through its 2017 low. The euro's tumble, coupled with declines in commodity currencies due to lower oil prices, left the dollar index at 106.46, just off its overnight 20 year peak. The euro fell against the pound, slipping just 0.2% on Tuesday, as sterling was hit by political turmoil. Prime Minister Boris Johnson's premiership sank on the brink after the resignations of two senior UK cabinet ministers - finance minister Rishi Sunak and health secretary Sajid Javid - over his leadership. The ...
Updated: 07/06/2022
Dollar weakens, euro under pressure
... for the second quarter, implying that the country was already in a technical recession. Carol Kong , a currency strategist at the Commonwealth Bank of Australia in Sydney, said that the Aussie and other commodity currencies, as well as the euro and sterling, will likely decline even more into the week, given markets are focused on the risk of a slowdown in the global economy. The pound hit a two-week low of $1.1976 on Friday and last bought $1.2095. Ahead of this week, Australia's central bank meets on Tuesday and investors are waiting for the publication of minutes from last month's Federal Reserve meeting and U.S. employment ...
Updated: 07/04/2022
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