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Dollar drifts toward monthly loss as Fed bets ease
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Dollar drifts up but set for biggest weekly drop in 4 months
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Sterling heads for second weekly gain after UK household support plan
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Dollar eases as traders scale back bets on Fed tightening
Pound touches 3-week high, UK household support plan in place
Date: May 26, 2022
By Dhara Ranasinghe LONDON (Reuters) -Sterling briefly touched its highest level in three weeks on Thursday, with the UK government’s latest measures to help alleviate a cost of living crisis seen supporting the economy in the short term. Britain announced a 25% windfall tax on oil and gas producers’ profits, alongside a 15 billion pound...
Get your crypto house in order, old guard tells Davos debutantes
Date: May 26, 2022
By Jessica DiNapoli and Divya Chowdhury DAVOS, Switzerland (Reuters) – Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum’s old guard. “The future of crypto, I’m sorry to say, looks regulated to...
Dollar edges back towards one-month low
Date: May 26, 2022
By Samuel Indyk LONDON (Reuters) – The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favouring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers,...
Pound steady near 3-week highs, UK household support plan eyed
Date: May 26, 2022
LONDON (Reuters) – Sterling held near its highest levels in three weeks on Thursday, with traders awaiting more details on the British government’s response to a cost-of-living crisis. Sterling has been hit hard in recent weeks by growing fears that Britain’s economy is heading towards recession and analysts said any signs of government support could...
Sterling slides after soft PMI data
Date: May 24, 2022
By Samuel Indyk LONDON (Reuters) -Britain’s pound fell to its lowest level in over a week against the euro after data showed a sharp slowdown in business activity, adding to concerns that the UK could slip into recession later this year. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), a monthly gauge of the services...
Pound falls as UK inflation hits 40 year high
Date: May 18, 2022
By Lucy Raitano LONDON (Reuters) – The pound fell against the dollar on Wednesday after data showed British inflation rising to 9%, the highest level in 40 years. At 0846 GMT, sterling was down 0.9% against the U.S. dollar at $1.23820. The drop reverses most of the gains made on Tuesday when the pound touched...