British pound news

Sterling rose on Monday as the market cautiously welcomed the UK government's decision to scrap a tax cut plan that would have weakened the country's fiscal accounts.

Electricity supplies to people's houses could be disrupted if the country runs short of gas.

Last week's trading was somewhat good for the pound sterling against the rest of the major currencies, as the Bank of England intervened to fix what was spoiled by the British government's plans.

Chancellor Kwasi Kwarteng announced a U-turn of his controversial tax cut for the UK’s highest earners this morning at the Tory party conference. GBP lifted

My previous GBP/USD signal on 20th September was not triggered, as the bearish price action took place above the resistance level which I had identified at $1.1451.

Technical charts, sentiment and positioning suggest GBP/USD’s slide is losing steam. Is it forming a base and what are the key levels to watch?

After touching historic lows on Monday of last week, as investment houses reacted in fear to the new economic mandates heralded by the Liz Truss led U.K government, something not so surprising happened.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of October 2nd, 2022 here.

The last seven days have been a rollercoaster with mortgage costs and the pound thrown off course.

The economy grew in the second quarter of this year, but it remains smaller than pre-Covid levels.

Cable claws back losses ahead of Truss, Kwarteng meeting with the Office for Budget Responsibility (UK fiscal watchdog). UK sentiment improves, gilts stabilize

The British Pound made a new weekly high today as markets recalibrate after Bank of England bond buying allayed some anxiety. If UK fundamentals deteriorate, will it sink GBP/USD?

Former Bank of England governor Mark Carney accuses Downing Street of working at cross-purposes with the Bank.

The renewed pullback in global markets has put more pressure on the British Pound. and all indications are that more losses are likely, which could lead to a retest of recent lows.

Cable’s relatively calmer price action suggests markets aren’t fully convinced about Liz Truss’ fiscal plans as she doubles down on Finance Minister Kwarteng’s mini budget

The S&P 500 market initially fell during trading on Wednesday to reach down toward the 3600 level but then turned around quite drastically early in electronic trading as traders celebrated the fact that the Bank of England is going to start buying bonds.

The FTSE 100 plunged during early hours on Wednesday, only to see a violent turn around after the Bank of England announced that it was going to step in and start buying bonds to fight the spike in-year-olds that we have seen over the last couple of days.

The Bank of England stepped into the marketplace and started a bond buying program during the trading session on Wednesday in a bid to drive yield down.

The GBP/USD price stabilized slightly as the market reflected on the latest intervention by the Bank of England (BoE).

The BBC's Economics Editor Faisal Islam explains why the Bank of England had to act.

BoE Intervenes in Gilts; Stocks, Risky Assets Bounce Back; US Dollar Sells Off; Fed’s Evans Sees Rates Peak in March 2023.

Gold has abated in Asia after a stellar day prior on the back of a deteriorating US Dollar and a drop in yields as the markets recoiled at Bank of England intervention. Will XAU/USD rally?

The S&P 500 managed to end a six-day slide – its worst since the height of the 2020 pandemic – before the index marked another high profile technical break. Seemingly, all it took was a massive stimulus aimed at stabilizing a financial crisis in the UK. But is that the backdrop for a broader recovery?

The British Pound is remains under siege despite the Bank of England rolling up their sleeves and buying long-dated bonds to mitigate monetary and fiscal policy disparity.

Crude oil prices rallied with gold and the S&P 500 after the Bank of England temporarily restarted quantitative easing. Markets eye a less-hawkish Fed. Are traders setting up for disappointment?

Major U.S. equity indices rallied as US Treasury yields and USD tumbled after the Bank of England announced an emergency plan to stabilize the bond market.

Gold prices rose on Wednesday, boosted by a weaker US dollar and, more importantly, falling bond yields after the Bank of England announced "quantitative easing" to stem the bond market rout.

Risk assets soar as traders increase bets on a pivot from the Federal Reserve.

It’s gone from bad to worse for the UK and the Bank of England’s emergency actions may not solve the problems plaguing the British Pound.

The UK Chancellor Kwasi Kwarteng unveiled the biggest range of tax cuts in 50 years, including a reduction of the highest rate of income tax from 45% to 40%.

Amid the free collapse of the British pound against the US dollar, GBP/USD is at its lowest level ever.

The Bank of England blindsided the UK gilt market today by announcing a temporary bond-buying program (QE) designed to keep longer-dated bond yields in check.

Some economists predict the Bank of England will raise the interest rate to as much as 5.8% by next spring.

The GBP/USD pair remained under pressure after mixed economic data from the United States and the UK.

Fed’s Kashkari Warns on Tightening; 10-Year Treasury Yields Exceed 4%; S&P 500 Reaches 2-Year Low; US Dollar Hits Long-Term Highs Against EUR and NZD; IMF Criticises UK Tax Cut Plan.

Fed’s Kashkari Warns on Tightening; 10-Year Treasury Yields Exceed 4%; S&P 500 Reaches 2-Year Low; US Dollar Hits Long-Term Highs Against EUR and NZD; IMF Criticises UK Tax Cut Plan.

The central bank's chief economist signalled in a speech it could not be 'indifferent' over the pound's slump.

The pull-back in GBP/USD from its multi-decade low looks weak and further selling pressure is likely as the BoE sidesteps an inter-meeting rate hike.

The GBP/USD crash to a record low in the overnight session even after assurances by the Bank of England (BoE) and the UK’s Treasury Department.

The GBP/USD crash to a record low in the overnight session even after assurances by the Bank of England (BoE) and the UK’s Treasury Department.

The British pound has been all over the place during the session on Monday, as we continue to see plenty of negativity.

The Bank of England said it was "monitoring developments closely" after the pound hit a record low.

The new week has started off with an exceptional rise in volatility with FX markets in particular suffering an extreme jump on the back of the extreme drop from GBPUSD and EURUSD. While seasonality sets a troubling tone, the range of key technical levels and underlying fears around recession mark a converging storm.

The British Pound is under siege as the Bank of England signals no action for now despite fiscal and monetary policy disparity undermining them. Will make GBP/USD make new lows?

Dow Jones futures slumped as Sterling’s record low further boosted global monetary tightening expectations. The KOSPI and Hang Seng indices are at risk after Wall Street’s plunge.

There’s panic in both FX and bond markets but stocks are holding key supports. One of these themes is likely off sides and this week may just start to show us which.