UK Pound

The pound has pulled off its biggest monthly increase against the U.S.

Sterling, down about 15% this year and wallowing around 2-1/2 year lows against the dollar, was expected to hover near Tuesday's $1.16 level in one and three months time.

Many currencies are struggling against the greenback, which has been galvanised by the US Federal Reserve's stated intention to continue raising its key rates.

Sterling slumped against to a two-year low against the dollar on Tuesday as a crisis in British Prime Minister Boris Johnson's government compounded pressure on a currency already reeling from recession fears and a resurgent greenback.

Major crypto firm Tether said on Wednesday it will launch next month a "stablecoin" pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency.

Barclays Head of Macro Trading for EMEA and Asia Pacific, Nat Tyce, is leaving after more than 25 years, a staff memo seen by Reuters shows, after transforming the trading unit into one of the bank's highest-flying divisions.

Toxic cocktail darkens outlook for British pound

The economic outlook remains exceptionally uncertain, with the Covid-19 pandemic continuing to exert a substantial toll on economies and societies.

Large tech companies have been major beneficiaries during the coronavirus pandemic.

Global stocks generally rose on positive sentiment about US-China trade and healthy corporate earnings.

Lawmakers voted to force Johnson to ask the European Union for another Brexit delay.

Stock markets elsewhere were mixed, while the pound rose following a topsy-turvy session on shifting Brexit sentiment.

The pound fell to $1.2271, the lowest point in nearly four weeks

The British pound found strength against other major currencies as investors gain confidence.

Slower U.S. growth expectations and the Federal Reserve's more gradual approach towards interest rate hikes will weigh on the U.S. dollar in the second half of the year, analysts said in a poll conducted by International Business Times.

Pointers from the financial market's performance in 2018

Sterling climbs above $1.40 early on Tuesday, reaching its highest level since June 2016's Brexit referendum.

Agreement over Brexit bill could unlock next phase of key negotiations with the European Union next month.

Sterling tumbles against its main rivals amid growing uncertainty over the government's future and Brexit negotiations.

Sterling climbs against euro and dollar as it pares losses incurred in the aftermath of Bank of England's historic rate hike.

Sterling had fallen overnight against the US dollar following Federal Reserve decision to hike interest rates.

Sterling climbs above $1.36 after BoE policymaker suggests rate rise could happen in November.

BoE votes 7-2 in favour of keeping interest rates unchanged but signals monetary policy could soon be tightened.

Retail sales rise 0.3% month-on-month in July, beating forecast for 0.1% gain.

Sterling tumbles below €1.11 as Bank of England holds fire on interest rates.

The British currency soars as traders look to Bank of England for market direction.

Sterling climbs above $1.30, as investors await figures on UK's economic growth.

ECB President says premature tightening of economic policy would jeopardise recovery in the Eurozone.

But billionaire owner Mike Ashley said the business is on track "to become the 'Selfridges' of sport".

UK inflation rises 2.6% year-on-year in June, compared with forecast for 2.9% growth.