Pound

The pound and the euro each declined about 0.1% against the dollar, which has recouped some of last week's losses, after having slid on hopes of a potential Fed change of tack.

Sunak will become Britain's next prime minister, Downing Street said on Monday. Sunak was due to meet King Charles on Tuesday morning before speaking outside No. 10 Downing Street

Youngest to the post in 200 years + Warns UK faces 'profound economic challenge' + FTSE 100 rises .6%

The dollar gained across the board, also pushing the Swiss franc to its lowest level since May 2019

The pound sank against the dollar early on Wednesday after the Bank of England governor confirmed the bank won't extend an emergency debt-buying plan introduced last month to stabilise financial markets. Andrew Bailey said the programme will end on Friday as scheduled. The pound fell by almost 1 per cent to just below USD 1.10 after Bailey spoke, before rallying slightly. After the government's September mini-budget the currency hit a record low of USD 1.03. My message to the (pension) funds involved you've got three days left now. You have got to get this done, he said. Part of the essence of a financial stability intervention is that it is clearly temporary. The central bank stepped in after the British government on September 23 announced plans for 45 billion pounds (USD 50 billion) in tax cuts without saying how it would pay for them. The announcement spooked financial markets and sent the pound plunging to a record low against the dollar. The Bank of England intervened to pr

The euro and the pound pared overnight losses and rose for the first time in three trading sessions, while the Japanese yen clawed back from another break through the key 145 level against the dollar

"We had to take urgent action to get our economy growing and that means taking controversial and difficult decisions," Truss said.

As the dollar eased, the pound rose 1% in Asia to $1.0805 and is up nearly 5% from Monday's low at $1.0327. The kiwi also rose 1%, its first gain in seven sessions, the euro rose 0.5% and the Aussie r

Global shares were mixed Monday while the British pound declined to an all-time low against the US dollar on concerns over planned tax cuts. France's CAC 40 rose 0.2% in early trading to 5,795.88, while Germany's DAX added 0.2% to 12,311.57. Britain's FTSE 100 edged 0.1% higher to 7,025.51. The futures for the Dow industrials and the S&P 500 were 0.1% lower. In Asian trading, Japan's benchmark Nikkei 225 shed 2.7% to finish at 26,431.55. Australia's S&P/ASX 200 dipped 1.6% to 6,469.40. South Korea's Kospi dropped 3.0% to 2,220.94. Hong Kong's Hang Seng gave up 0.4% to 17,855.14, while the Shanghai Composite lost 1.2% to 3,051.23. The British pound's slide against the dollar picked up pace last week after the UK's new government outlined plans to cut taxes and boost spending. The weakening currency piles pressure on the UK's new Conservative government, which has gambled that slashing taxes and increasing borrowing to compensate will spur economic growth. Many economists say .

The pound plunged nearly 5% at one point in Asia trade to break below 1985 lows and hit $1.0327. Moves were exacerbated by thinner liquidity in the Asia session

Pound slides below $1.11 for first time in 37 years

Sterling was set for its biggest weekly decline against the U.S. dollar in two years after it touched a fresh 37-year low of $1.1022. The pound was last down 1.9% at $1.1049.

The last time the sterling-dollar exchange rate was this low the world's richest nations signed the Plaza Accord, an agreement to weaken the US currency

Russia's gas would remain the "Damocles sword" hanging over Europe's economy, he added, while the scale of interest rate rises likely to come and the risk of recessions was still not fully reflected

The dollar index, which measures the currency's value against a basket of peers, scaled a fresh two-decade peak of 109.48 before retreating

Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are major reasons for the weakening of the Indian Rupee against the US Dollar

He added that unlike earlier crises, the depreciation of the rupee against the US dollar was lower than other major global currencies such as the Swiss Franc, the Euro, the British pound and the Yen

Why the rupee at 80 against the US dollar may not be bad news?

Exchange rate of the rupee fell to Rs 79 per US dollar this week. Rupee also strengthened against G10 currencies like euro, yen and pound sterling. Find out the virtues and vices of depreciating rupee

The Indian currency, he said, has appreciated against several global currencies like British Pound, Japanese Yen and Euro.

According to SBI's website, the interest rate on US dollar category deposits with maturities up to 2 and 3 years are up by 85 basis points to 2.85 per cent and 3 per cent