News That Matters

Tag: Pound

Pound at highest level since Brexit vote

Pound at highest level since Brexit vote

Business
The pound has climbed to its highest level against the US dollar since the Brexit vote.Sterling was up by more than a cent to reach nearly $ 1.37 in Friday trading. It was little changed against the euro, hovering below €1.13.It has not been as high versus the dollar since the result of the EU referendum in June 2016 sent the pound plunging from $ 1.50.That result saw sterling sliding to less than $ 1.20 in ensuing months before steadily gaining back ground over 2017.The latest rise on Friday was partly attributed to a report that Spain and the Netherlands were open to a softer Brexit deal for Britain.Bloomberg reported that the two countries' foreign ministers had agreed to work together for a divorce deal that would maintain close ties between the EU and Britain.That did little to help t
Pound and business react to Brexit deal

Pound and business react to Brexit deal

Business
The Brexit-battered pound has failed to benefit from the UK's deal with the EU to secure trade talks.Sterling fell half a cent against the greenback as the breakthrough was confirmed in Brussels, sinking from above $ 1.35 to $ 1.3465.Analysts said a strengthening of the US currency later, with the pound dropping to $ 1.34 on Friday evening, was driven by a strong set of US employment figures which dominated sentiment.The pound also fell back against the euro after hitting six-month highs when European Commission President Jean-Claude Juncker declared "sufficient progress" had been made in the first phase of Brexit talks to allow negotiations on future trade to begin later this month.:: LIVE: PM secures Brexit deal with £40bn feeVideo:May: I look forward to 'next phase of talks'It was the d
Pound at 14-month high on rate rise signal

Pound at 14-month high on rate rise signal

Business
The Brexit-battered pound hit a 14-month high against the dollar on Friday as a Bank of England policymaker reiterated the possibility of a looming interest rate rise.Gertjan Vlieghe supported the view, expressed by a majority of the nine-member monetary policy committee (MPC) at Thursday's meeting, that rates could rise in the "coming months" to help keep a lid on inflation should it continue to grow as expected.In a speech to a conference in London, the economist said: "There remains a risk that, at some stage, the uncertainty surrounding the Brexit process has a larger impact on the economy than we have seen so far."If that happens, monetary policy would respond appropriately.But for now, it seems the net effect of the many underlying forces acting on the UK economy is that slack iscont...
New York Yankees pound Chris Sale, take series from Boston Red Sox

New York Yankees pound Chris Sale, take series from Boston Red Sox

Sports
NEW YORK -- Facing one of the more powerful arms in the majors, the New York Yankees worked the pitch count up, brought some power of their own and made some progress in their pursuit of the American League East title.Chase Headley went deep of Sale in the third inning, Matt Holliday and Todd Frazier hit back-to-back homers in the fourth, and the Yankees chased the Boston Red Sox ace early and coasted to a 9-2 victory Sunday night. New York's Aaron Judge hit his first homer in more than two weeks in the sixth inning against Boston's Addison Reed. The Yankees won three of the four games in the series against the Red Sox, cutting their deficit to 3 1/2 games. New York finished the 19-game season series against Boston with 11 wins. Four of those New York victories occurred in starts made by S...
Pound jumps on Bank of England Governor's rate rise hint

Pound jumps on Bank of England Governor's rate rise hint

Business
The pound jumped nearly 1% after the governor of the Bank of England suggested that interest rates could rise if business investment grows.Sterling rose to $ 1.2936 against the dollar after Mark Carney said that "some removal of monetary stimulus is likely to become necessary".He said a change would depend on whether company investment could offset a slowdown in consumer spending. Mr Carney said it was an issue the Bank "will debate in the coming months".Pound Sterling - United States DollarLast week, at the delayed Mansion House gathering in London, Mr Carney said that "now is not yet the time to begin" raising interest rates which remain at a record low of 0.25%.However, shortly afterwards, Bank of England chief economist Andy Haldane said he might vote for a rate rise before the end of ...