|Bid||3.47 x 0|
|Ask||3.48 x 0|
|Day's range||3.46 - 3.50|
|52-week range||3.31 - 6.77|
|PE ratio (TTM)||N/A|
|Earnings date||23 Oct 2017 - 27 Oct 2017|
|Forward dividend & yield||N/A (N/A)|
|1y target est||5.75|
The pound rose to a six-day high on Friday after a Bank of England meeting revived expectations of a rate hike this year, but fears of a breakdown in Brexit talks next week limited sterling's gains. The British currency has struggled through much of June, weighed down by worries about a slowdown in the economy and fraught attempts by British diplomats to secure a deal to exit the European Union in March. Sterling rallied on Thursday, though, when the Bank of England's chief economist unexpectedly voted for an interest rate hike.
The risk to Britain's economy from a sharp slowdown in China could be around 50 percent larger than previously estimated, new Bank of England research showed on Friday. China, the world's No.2 economy, has started to cool due to a multi-year crackdown on riskier lending that is pushing up borrowing costs for companies and consumers. While Britain would be affected mainly through trade by a more severe slowdown in China, the BoE (Shenzhen: 000725.SZ - news) report also said the depth of its financial links with China were "unique", whether directly or via Hong Kong.
Britain's top central bankers held an unusual vote during their policy deliberations this week - to decide which country is most likely to win the World Cup taking place in Russia. Switzerland - which achieved an unexpected draw against five-time world champion Brazil on Sunday - was one team picked, but Bank of England Governor Mark Carney said he would wait until his home country Canada co-hosted the World Cup in 2026 before revealing the full results. "Unfortunately for you, but fortunately for some Monetary Policy Committee members, the result is sealed along with the rest of the transcript.
Britain's finance ministry said on Thursday it will pay the Bank of England 1.2 billion pounds ($1.6 billion) to boost the central bank's capital and let it take greater responsibility for economic stimulus. As part of the new agreement https://bit.ly/2McJg50 that makes clearer the financial links between the central bank and the finance ministry, the BoE (Shenzhen: 000725.SZ - news) 's capital will rise to 3.5 billion pounds and the central bank will accept full liability for one of its bank lending schemes. "Today marks a step change in our ability to provide liquidity," BoE Governor Mark Carney said in a speech after the announcement.
The Bank of England bolstered expectations that at its next meeting it will raise rates for only the second time in a decade, after its chief economist unexpectedly joined the minority of policymakers ...
Britain's finance ministry said on Thursday it will pay the Bank of England 1.2 billion pounds ($1.59 billion) to boost the central bank's capital to a new 3.5 billion pound target and let it take full responsibility for its Term Funding Scheme. "The commitment of a capital injection of 1.2 billion pounds before the end of the 2018/19 financial year ... will enable the Bank to take the Term Funding Scheme on balance sheet without an indemnity from the Treasury," BoE Governor Mark Carney said in a letter to finance minister Philip Hammond. The move comes as part of a broader overhaul of the financial relationship between the finance ministry and the BoE (Shenzhen: 000725.SZ - news) .
Short-dated British government bond yields rose sharply after the Bank of England's chief economist unexpectedly voted to raise interest rates on Thursday, heightening the chance that an increase will ...
The Bank of England said on Thursday it could start to sell the nearly half trillion pounds of assets it bought to boost the economy sooner than previously thought, though analysts said a reduction still looked years away. Like other central banks, the BoE (Shenzhen: 000725.SZ - news) amassed huge sums of government bonds bought with newly created money to spur economic growth after the financial crisis, but a decade later they are now working out how to unwind this stimulus. While the U.S. Federal Reserve has already started this process, the BoE still maintains a 435 billion pound ($576 billion) target for its stock of British government bonds bought through this stimulus, known as quantitative easing (QE).
The pound rebounded against the dollar and the euro on Thursday after the Bank of England kept interest rates on hold but a vote for a hike by its chief economist heightened expectations that it could tighten policy at its next meeting in August. Investors had been pessimistic about the chances of the British central bank offering strong guidance about a rate hike in the near future because of uncertainty over Brexit and the state of the economy.
The dollar rose to a fresh 11-month high and the euro hit another low on Thursday as investors increased their bets on a prolonged period of monetary policy divergence between the U.S. and European central banks. Concerns over an escalation in a U.S.-China trade conflict, underlined by comments from top central bankers on Wednesday, have also boosted the dollar as traders reckon a more serious dispute would be inflationary for the U.S. economy, forcing the Federal Reserve to tighten rates further. "We are really seeing divergence in monetary policy in the euro zone and the U.S. for many months to come," said Esther Reichelt, a currencies analyst at Commerzbank (Xetra: CBK100 - news) in Frankfurt.
The pound sank to a seven-month low on Thursday before a Bank of England monetary policy meeting where officials could indicate if interest rates will be raised this year despite a weak spell for the economy. No economists polled by Reuters expect the BoE (Shenzhen: 000725.SZ - news) to raise rates and some are getting cold feet about their forecasts for a rate rise in August, which would be only the second increase by the central bank since the 2008 financial crisis. Market expectations are for a less than 40 percent likelihood of the Bank of England’s Monetary Policy Committee (MPC) raising interest rates by August, with about an 80 percent chance of one more rate hike by the end of 2018.
The Bank of England may lay some groundwork on Thursday for an August interest rate rise, if it judges the economy is now turning a corner after an unusually weak start to the year. No economists polled by Reuters expect the BoE to raise rates when it announces its June policy decision at 1100 GMT, and markets are split over whether the BoE's next rate rise - which would be just its second since the financial crisis - will come at its next meeting in August, or only later in 2018.
Sterling rebounded from a seven-month low against the dollar and hit the day's highs versus the euro on Wednesday after Prime Minister Theresa May won a crucial Brexit vote in parliament, averting a rebellion that could have undermined her authority. "Is it (Britain) heading towards a softer Brexit or at the same time does this further weaken Theresa May's standing," said Credit Agricole (Swiss: ACA.SW - news) currencies analyst Manuel Oliveri. "One has to keep in mind that the focus is shifting to the BoE.
Britain's opposition Labour Party could ask the Bank of England to target productivity to help boost the economy if it wins power, in the most radical change to the central bank's remit in more than two decades. Consultants commissioned by John McDonnell, the shadow chancellor, recommended the bank should retain its independence, but that its mandate be expanded to include an annual productivity growth target of 3 percent.
The dollar hit an 11-month high against a basket of its rivals on Wednesday as an escalating trade conflict kept investors from buying higher-yielding currencies and markets braced for growing volatility. Currency markets had breathed a sigh of relief after Beijing signalled its tolerance of a stronger currency by fixing a stronger daily midpoint than expected. Safe-haven currencies such as the Swiss franc and the Japanese yen were still well-supported, though.
Sterling slid to a fresh seven-month low against the dollar on Wednesday as concerns over the latest round of Brexit negotiations sapped demand for the British currency before a central bank meeting on Thursday. Prime Minister Theresa May will ask the lower House of Commons to pass her Brexit blueprint, or EU withdrawal bill.
The dollar paused on Wednesday after hitting a 11-month high in the previous session as investors consolidated bets after a recent rally, though concerns over a widening trade dispute between the United States and China kept sentiment on edge. Currency markets also heaved a sigh of relief after Beijing signalled its comfort with a stronger currency by fixing its daily midpoint stronger than market expectations. "Investors are waiting for the next developments on the trade war front but sentiment is still quite nervous," said Alvin Tan, a currency strategist at Societe Generale (Swiss: 519928.SW - news) in London.
Sterling plumbed a seven month low on Tuesday, as concerns about an escalating trade dispute between the world's two biggest economies weighed on risk appetite. With (Other OTC: WWTH - news) all eyes focused on the Bank of England's policy decision on Thursday, in which it is expected to unveil its monetary policy stance for the rest of the year after a run of mixed data, investors have cut bets on the British currency. "While there is little doubt that the committee will retain the current level of monetary accommodation, this meeting remains a significant gauge for markets to assess when it will be seeking to raise rates once again," said Joshua Mahony, a market analyst at IG Group.
Sterling fell to a fresh 2018 low on Tuesday, as concerns about an escalation in the trade dispute between the world's two biggest economies weighed on risk sentiment. With all eyes focused on the Bank ...
The pound fell on Monday as the dollar strengthened, with traders reluctant to buy sterling before a Bank of England policy meeting this week and another expected parliamentary confrontation over the government's Brexit plans. With (Other OTC: WWTH - news) an escalating trade dispute between the United States and China keeping broader currency markets cautious, and little in the way of major British economic data scheduled for the next few days, analysts said the pound was expected to remain in a narrow range before Thursday's central bank meeting. Prime Minister Theresa May's Brexit plans face the prospect of rejection by parliament's upper chamber later on Monday, setting the stage for a high-stakes confrontation with rebel lawmakers later in the week.
Sterling traders may be getting ahead of themselves in expecting an interest rate increase in August by the Bank of England, according to an analysis by Goldman Sachs (NYSE: GS-PB - news) . Michael Cahill, a London-based strategist at the U.S. bank found the "fair value" of the British pound was around $1.26 using a mix of interest rate differentials, global risk appetite, oil prices, terms of trade and perceived sovereign debt risks in the credit default swap spreads. "With (UK economic) growth for the second quarter, tracking at a meager 0.7 percent annualized, we think markets are over-pricing an August rate hike, which helps inform our bearish view on the currency in the near term," Cahill wrote in a note.
The pound fell on Monday as the dollar strengthened, with traders reluctant to buy sterling ahead of a Bank of England policy meeting this week and another expected parliamentary confrontation over the government's Brexit plan.
Britain's economy looks on track to grow at its weakest rate since 2009 this year due to Brexit uncertainties, higher oil prices and fears of a trade war, the British Chambers of Commerce said on Monday. "The economy is in a torpor, with uncertainties around Brexit, interest rate rises, and international developments such as a possible trade war and rising oil prices all having an impact," the BCC (Shenzhen: 002455.SZ - news) said. Britain was the slowest-growing among the G7 group of major economies at the end of 2017, and in the first three months of 2018 the economy expanded by just 1.2 percent year-on-year, its weakest since 2012.
Sterling held near seven-month lows on Friday as strong U.S. data and a hawkish Federal Reserve prompted investors to buy the greenback, while the Bank of England is expected to strike a cautious note at a review next week after some weak data. Focus shifts to the Bank of England's meeting next week and Prime Minister Theresa May's ongoing efforts to convince her colleagues about her plans for Brexit. "Our base case for Brexit remains a 'decent Brexit' where the UK leaves the single market and most likely also the customs union but strikes a free-trade deal agreement ... We expect a lot of noise ahead of the important EU summits later in June and in October," Danske Bank (LSE: 0NVC.L - news) said in a note.
The pound steadied Friday above its lowest level since November, after strong U.S. retail sales and a more hawkish Federal Reserve earlier this week boosted the dollar and underlined policy divergence between the countries. Against the euro, the pound fell back after a rally on Thursday when the European Central said it would keep interest rates unchanged through the summer of 2019, sending the euro hurtling lower.