The euro strengthened against both the pound and the dollar yesterday after the European Central Bank’s monetary policy meeting.
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Following the Bank of England’s decision yesterday to raise the UK’s interest rate to 0.5%, the pound strengthened against the euro initially, but then plummeted.
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It was announced yesterday that the Bank of England voted to raise the UK’s interest rate to 0.5%, which was widely expected and caused the pound to strengthen initially. However, comments from Governor Andrew Bailey and from President…
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The dollar has edged higher against a basket of currencies this morning, receiving some support due to its ‘safe haven’ status.
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We could see some volatility for the euro today due to the European Central Bank’s monetary policy meeting, which will take place later.
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The pound is still trading around strong levels against the euro and the dollar this morning, ahead of the Bank of England’s meeting later today.
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The Bank of England will publish the minutes from its latest monetary policy meeting at 12pm today and all eyes will be on whether interest rates are set to be raised. An interest rate hike to 0.5% is…
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Later today, ADP employment change figures will be released for the US. This will show how many jobs were added to the US economy by private businesses in January.
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