Oscar Wong | Moment | Getty Images Euro is expected to hit parity with the dollar Economists expect the euro to fall to or even below parity with the U.S. dollar next year. That would mean the currencies had a 1:1 exchange rate. The euro is used by 20 of the 27 nations in the … Read more
Scott Bessent speaks at the National Conservative Conference in Washington D.C., Wednesday, July 10, 2024. Dominic Gwinn | Afp | Getty Images Financial markets on Monday welcomed President-elect Donald Trump’s pick for U.S. Treasury secretary, with currencies across the globe rallying on hopes that hedge fund manager Scott Bessent can take some of the sting … Read more
LONDON — The British pound has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment. Many investors are awaiting the new Labour government’s fiscal plan at the end of October … Read more
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were … Read more
Initial indications on Sunday evening for the French parliamentary run-off vote threw up some big surprises, leaving political commentators contemplating a “hung parliament” scenario that could prove challenging for both policymaking and financial markets. France’s left-wing New Popular Front coalition is seen by some projections to gain the most seats in the election, with French … Read more
People shelters from the rain beneath a Union flag-themed umbrella as they walk past spring flowers in blossom, in St James’s Park in central London on April 10, 2024. Justin Tallis | Afp | Getty Images LONDON — U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing … Read more
A bitcoin is on a screen showing the bitcoin-U.S. dollar exchange rate. Fernando Gutierrez-Juarez | picture alliance | Getty Images Bitcoin fell for a second day to start the new month and quarter amid rising Treasury yields and strength in the U.S. dollar. The flagship cryptocurrency fell more than 4.76% on Tuesday to $66,134.00, bringing its … Read more
People walk along Waterloo Bridge past the City of London skyline, the capital’s financial district, on a sunny and mild day. Sopa Images | Lightrocket | Getty Images LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. The headline figure was in … Read more
