Sterling tumbles after weak UK inflation
Wednesday, 23 May 2018 23:47 WIB | CURRENCIES |poundSterling,Poundsterling

Sterling slid on Wednesday to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England (BoE) raising interest rates this year.

The pound had been one of the best-performing currencies in 2018 but it has given up all its gains for the year following a broad rally in the dollar and signs Britain™s economy is slowing.

Data on Wednesday showed annual consumer price inflation cooled to 2.4 percent, its weakest increase in over a year.

That sent sterling tumbling to $1.3305, its lowest since Dec. 15..

Investors priced in a one-in-three chance of the BoE raising borrowing costs in August ” the next time it updates its economic forecasts ” down from 50/50 earlier this week.

At 15:00 GMT the pound was down 0.7 percent to $1.3341 and headed for its biggest daily loss in three weeks.

Source: Reuters

RELATED NEWS

U.S. Dollar Struggles as Dallas Manufacturing Data Disappoints
Monday, 24 June 2019 23:18 WIB

The U.S. dollar was near three-month lows on Monday after disappointing regional data and rising tensions between Iran and the U.S. The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, was down 0.1% to 95.59 by 10:45 AM ET (14:45 GMT). The Dall...

Dollar Struggles After Biggest Weekly Drop in Four Months
Monday, 24 June 2019 15:42 WIB

The dollar was on the back foot on Monday after sustaining its biggest weekly drop in four months last week as traders remained cautious about the prospects of trade talks between the United States and China at this week's G20 summit. The greenback has been on the receiving end of a broad market se...

Euro hits three-month high as Fed easing prospects weigh on dollar
Monday, 24 June 2019 10:25 WIB

The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve. The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in early Asian trade, its ...

USD/JPY is under pressure and in 5 month lows
Monday, 24 June 2019 08:24 WIB

In a tight range to start the week, USD/JPY is flat around 107.30 in Tokyo, up from 107.05 from Friday's business but below 107.75 highs. The yen has picked up a safe haven bid and flows out of the greenback following a switch to a new easing bias at the Federal Reserve is likely to keep the pair un...

U.S. Dollar Slips After Weak PMI Data; Middle East Tensions
Friday, 21 June 2019 23:22 WIB

The U.S. dollar remained near three-month lows on Friday as rising tensions between Iran and the U.S. and weaker-than-expected PMI data kept the dollar down. The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, was down 0.1% to 96.047 by 10:54 A...

ANOTHER NEWS
Senior Facebook Executive Says it Would Favor Regulation
Monday, 24 June 2019 23:36 WIB A senior Facebook executive says the social media site is in favor of regulation to address some of the dark problems of the internet. Nick Clegg, the former leader of the U.K. Liberal Democrat party who now heads global affairs for Facebook, says...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.