Tag: Sterling
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Pound LIVE: Sterling plunges to all time low against dollar – ‘BoE will be forced to act’ | City & Business | Finance
[ad_1] John Bromhead, currency strategist at Australia & New Zealand Banking Group warned Bank of England could be “forced to act”. Sterling tumbled against the dollar as low as $1.0327, the lowest level since decimalisation in 1971. Mr Bromhead said: “The scale of the move today means the BoE will be forced into action, at…
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Pound crisis: Bets mount against sterling as supply chain issues spark chaos | City & Business | Finance
[ad_1] Trades aimed at insuring against a sterling plunge against the dollar have jumped sharply in the last two weeks. The bets against the UK’s currency have hit their highest level since March 2021. Traders fear stagflation, where prices and wages rise but economic growth remains sluggish, will worsen in the UK. The currency market…