Hints and tips:
...the week around $1.13....
...The pound rose 1.6 per cent against the dollar to $1.134. Sterling fell 1.4 per cent on Friday after UK prime minister Liz Truss sacked Kwarteng and abandoned a planned tax cut for corporations....
...Shorter-dated gilt yields also fell sharply, while the pound gained 2.2 per cent against the dollar to trade at $1.1418....
...Rochester said sterling’s recovery to pre-“mini” Budget levels, from an all-time low of $1.035 last Monday, would be a good opportunity to renew negative bets against the currency....
...The pound added 1.9 per cent against the US currency to $1.13, as it emerged that British prime minister Liz Truss was in discussions about a U-turn on the government’s “mini” Budget....
...Sterling held on to its gains against the dollar to trade 0.08 per cent higher on the day at $1.122....
...Jonsson said: “How do you make UK assets attractive enough to stabilise the currency — you’ve got to let real yields rise.”...
...Sterling slumped more than 2 per cent against the dollar to $1.24, its weakest level since June 2020....
...The currency division recorded an adjusted operating loss of £1.4mn in 2020-21....
...Elvira Nabiullina, the bank’s governor, said at a press conference that there had been no “U-turn” to allow the bank to see a sustained inflation slowdown....
...It also pledged more support for the country’s stricken property market and promised to use “every type” of currency policy tool....
...Then the peak-to-trough fall in GDP was 2.75 per cent, while we expect the current recession to see a fall of 1.9 per cent....
...The Fed last week slashed rates by half a percentage point — the biggest cut since the crisis — to a range of 1-1.25 per cent....
...The U.S....
...The central bank, which maintained its target for the overnight rate at 1.75 per cent, on Wednesday, reduced its outlook for domestic growth this year and dropped its previous language on future rate rises...
...Demand for ballistic flares and fighter jet gauges looks to be unaffected by plague, with revenue up 46 per cent and 24 per cent respectively on a constant currency basis....
...The euro climbed about 1 per cent to $1.1557 — the highest since October 17, while the dollar extended its slide against the yen....
...The euro has also strengthened to a three-month high against the dollar, gaining 1.7 per cent since last week’s Fed meeting....
...Hande Kucuk: The scope for reducing interest rates was severely restricted at the onset of the Covid-19 crisis, with Bank Rate at just 0.75 per cent at the end of 2019....
...(ICIJ) Shady Silicon Valley Those leaks also reveal how Sequoia Capital, one of America’s most vaunted venture capital firms, which has invested $1.2bn in more than 75 Indian companies, tried to avoid taxes...
...The dollar index was down 0.4 per cent at 94.34 as the euro rose 0.4 per cent to $1.1704. Sterling was up 0.2 per cent at $1.3129 while the US currency was little changed versus the yen at ¥111.05....
...of sterling as an international currency....
...In the face of the currency sell-off and rising inflation, Turkey’s monetary policymakers have declined to raise its main policy rate, the one-week repo, which stands at 17.75 per cent....
...The regional content requirement for tariff-free trade will be lifted from 62.5 to 75 per cent....
...Gold was up 0.1 per cent to $1,326 an ounce....
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