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Pound’s Performance on Course for Its Worst Run in Nearly a Year Amid Market Volatility – Live Updates


The British Pound is facing its longest run of losses in almost a year, heading for its fourth weekly decline in a row against the US dollar and euro. The recent Bank of England interest rate cut and expectations of further cuts have contributed to the pound’s weakness. The monetary policy response to falling inflation has put pressure on the pound, while also boosting the euro against the pound. The Euro has experienced significant buying against the Pound in the past few weeks, with EURGBP dropping to near two-year lows. This trend is attractive for investors, especially as it appears that the ECB and Bank of England are moving in the same direction in terms of policy easing.

In other news, Germany’s inflation rate for July has risen to 2.6%, while Hargreaves Lansdown, a prominent UK investment firm, has agreed to be taken over by a consortium of private equity companies for £5.4bn. The takeover marks a significant move in the financial sector, as the London Stock Exchange loses another member.

Market events and economic data releases are being closely watched, including reports on inflation rates from Italy and Canada, and GDP data from Russia. The global economic landscape remains uncertain, with market volatility and fluctuations impacting various financial markets.

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Photo credit www.theguardian.com

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