Economic Update 02 Dec 2024 7 minute read
GBP recovers against the USD, after hitting six-month lows
The pound has weakened against the dollar and other currencies following the release of the UK Gross domestic product for Q3 on 15 November. GDP for the period July to September showed growth of only 0.1%, significantly lower than the 0.5% figure in...
Economic Update 25 Nov 2024 7 minute read
USD at six-month high against sterling and two-year high against the euro
The pound has weakened against the dollar and other currencies following the release of the UK Gross domestic product for Q3 on 15 November. GDP for the period July to September showed growth of only 0.1%, significantly lower than the 0.5% figure in...
Economic Update 18 Nov 2024 5 minute read
GBP/USD hits a four-month low and EUR/USD a one-year low as the dollar continues to make gains
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
Economic Update 11 Nov 2024 6 minute read
BoE cuts interest rate to 4.75%, but OBR forecasts uninspiring UK GDP growth
In a widely expected move, the Bank of England cut interest rates by 25 basis points to 4.75% on Thursday. It is this year’s second cut in the base rate, which came down from 5.25% to 5% in August. With the US Dollar bolstered by the prospect of a Donald Trump presidency, the GBP/USD exchange rate had initially dipped by around...
Article 04 Nov 2024 14 minute read
The potential impact of US Election 2024 on FX markets
The 2024 US election could impact FX markets, with potential USD fluctuations based on the winning candidate's policies and possible contested results.