Pound Climbs As U.K. Treasury Delays Budget Plan

RTTNews | 959天前
Pound Climbs As U.K. Treasury Delays Budget Plan

(RTTNews) - The pound appreciated against its most major counterparts in European deals on Wednesday, as the U.K. treasury has postponed an eagerly awaited budget plan to November 17 in order to restore economic credibility, after the mini-budget rattled the bond market.

The medium-term fiscal plan, which had been scheduled for October 31, would be delivered on November 17 as a full Autumn Statement.

Finance minister Jeremy Hunt is expected to outline how he will cover a budget shortfall of 40 billion pounds.

Hunt said that the plan would see UK debt "falling over the medium term".

Rishi Sunak, who assumed charge as the new Prime Minister on Tuesday, said the government's mission is to restore economic stability and confidence.

The pound climbed to 1.1620 against the dollar, its highest level since September 13. On the upside, 1.22 is possibly seen as its next resistance level.

The GBP/CHF pair touched more than a 2-month high of 1.1475. The pound is seen finding resistance around the 1.16 region.

The pound was up against the euro, at an 8-day high of 0.8646. The pound is likely to face resistance around the 0.84 region, if it gains again.

The pound strengthened to a 6-1/2-year high of 170.60 against the yen at 4:55 am ET, but it has since eased to 169.59.

read more
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 3小時53分鐘前
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 4小時2分鐘前
Yen Recovers Amid BoJ Rate Hike Speculation

Yen Recovers Amid BoJ Rate Hike Speculation

The Japanese yen recovered from early lows against other major currencies in the European session on Tuesday, as traders speculate that the Bank of Japan (BoJ) will hike interest rates this year.
RTTNews | 1天前
Pound Slides On Weak U.K. Employment Data

Pound Slides On Weak U.K. Employment Data

The British pound weakened against other major currencies in the early European session on Tuesday, after the U.K. unemployment rate rose slightly in the three months to April period.
RTTNews | 1天前
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the early European session on Tuesday.
RTTNews | 1天前
Yen Rises After Japan GDP Data

Yen Rises After Japan GDP Data

The Japanese yen strengthened against other major currencies in the Asian session on Monday, after data showed that an upward revision to Japan's first quarter GDP supporting the interest rate hike expectations.
RTTNews | 2天前
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Monday.
RTTNews | 2天前
U.S. Dollar Higher After Strong Jobs Data

U.S. Dollar Higher After Strong Jobs Data

The U.S. dollar firmed against its major counterparts in the New York session on Friday, following the release of better-than-expected nonfarm payrolls report for May.
RTTNews | 4天前