Pound Suffers Further Falls as UK’s Fiscal Troubles Set to Deepen

Pound Suffers Further Falls as UK’s Fiscal Troubles Set to Deepen

The pound has fallen sharply as worries over the UK’s bleak fiscal outlook weigh heavily before next month’s closely-watched Budget. Sterling tumbled to a two-and-a-half-year low against the euro and a three-month low versus the US dollar, down 0.4% at 1.13 euros and 0.4% lower at 1.32 dollars, following steep falls on Tuesday. It comes after reports that the UK’s independent fiscal watchdog, the Office for Budget Responsibility (OBR), had cut i…

Pound suffers further falls as UK’s fiscal troubles set to deepen

The UK’s independent fiscal watchdog has reportedly cut its productivity forecast, deepening the challenging facing the Chancellor.

Sterling sinks with the BoC and Fed coming up

USD The dollar traded with a negative bias on Tuesday as investors geared up for today’s FOMC decision. Early weakness reflected the broader risk-on mood that has prevailed since last week, which saw the DXY drift toward the mid-98s. Intraday swings were driven by positioning around mixed U.S. data; consumer confidence and the Richmond Fed survey marginally beat expectations, but the lack of official readings stemming from the current government…

Pound Sterling refreshes almost three-month low against US Dollar ahead of Fed’s monetary policy

The Pound Sterling (GBP) posts a fresh almost three-month low at around 1.3230 against the US Dollar (USD) during the European trading session on Wednesday.

Pound to Dollar Forecast: GBP/USD Steady Ahead of Fed and Trade Talks

The Pound to Dollar exchange rate (GBP/USD) found renewed support above 1.3300 on Monday and edged toward 1.3350, with tight ranges persisting ahead of a key week for global markets.