Posts Tagged ‘Budget’
UK Labour Market Cools; Government Spending Review to Shape Sterling Outlook
GBP The Pound Sterling weakened to around 1.3456 against the US Dollar during European trading on Tuesday. This came after the UK’s Office for National Statistics reported a slowdown in the labour market for the three months ending April. New jobs added totalled 89,000, down from 112,000 in the previous quarter, while the unemployment rate…
Read MoreSterling Holds Firm, Euro Weakens, Dollar Gains as US Election and Central Banks Take Focus
GBP Sterling has been one of the best-performing major currencies in 2024, thanks to the Bank of England’s cautious stance on cutting interest rates and better-than-expected economic data earlier in the year. If the upcoming budget is well received, and the BoE continues to take a measured approach to rate reductions, the Pound could maintain…
Read MoreMerkel’s election setback
STERLING GBP/USD broke below 1.28 on Friday to its lowest level since August 20th as Brexit related uncertainty took its toll. Reports on Friday suggested that inter-cabinet talks had stalled in the UK as lawmakers cannot agree on how to proceed in negotiations. Chancellor Hammond will deliver the Budget at 3:30pm today for the last…
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