Sterling peaks on Thursday on bullish BoE report

Posted 08 February, 2018

The sterling has peaked over the day on Thursday driven by the decision o the Bank of England. UK's central bank left interest rate unchanged though commented that an upward revision could take place earlier than forecast.

In the course of the day, the sterling to US dollar hiked to some 1.3977. The previous level was at 1.3885 before the report. The euro weakened against the sterling to 0.8749.

The observed currency strengthening followed the statement by the Bank about the possible higher-pace increase of interest rate compared to the market expectations.

“Were the economy to evolve broadly in line with the February Inflation Report projections, monetary policy would need to be tightened somewhat earlier and by a somewhat greater extent over the forecast period than anticipated at the time of the November Report,” the meeting minutes read.

The interest rate has been left at 0.5% today.

Besides, the regulator also upgraded its outlook, so currently the bank forecasts faster economic growth in 2018 and 2019. As a result, the current growth pace is anticipated at 1.8% (1.6% earlier) and 1.8% (1.7%) respectively.

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09 February, 2018 11:40

← US dollar dips due to government shutdown

The US dollar has slackened vs other currencies due to the shutdown of US government on delayed budget voting in the Congress. The US government has stopped operations for the second time since the start of 2018. The deadline for the approval of the state budget draft (including government financing) has expired in the early hours of Friday.

US dollar dips due to government shutdown

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08 February, 2018 14:45

Bitcoin and other digital coins keep recovering →

Bitcoin and other cryptocurrencies recover on Thursday after the recent slump. On the Bitfinex bitcoin was recorded at some $8,477.00, which means about $2,000 increase over two days. The second major digital coin – Ethereum – changed hands at $830, while the top-3 Ripple coin was priced at $0.74. However, despite some recovery bitcoin price has slackened around 20% over February.  

Bitcoin and other digital coins keep recovering
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