GBP

2022 - 9 - 26

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Image courtesy of "Cointelegraph"

GBP follows Euro: The pound-dollar rate hits all-time low (Cointelegraph)

Reaching 1 GBP = $1.04, the pound has crash-landed, marking a record low against the U.S. dollar following the new prime minister's budget announcements.

Due to the pound devaluing, all cryptocurrency tokens appear to rise in value in Cobie’s home country, the United Kingdom. Inflation in the United Kingdom is at record levels for the century, [hitting double digits last month](https://cointelegraph.com/news/uk-hits-double-digit-inflation-for-the-first-time-in-40-years) for the first time in 40 years. [announced](https://www.gov.uk/government/news/chancellor-announces-new-growth-plan-with-biggest-package-of-tax-cuts-in-generations). In numbers, Bitcoin is down 50% against the pound this year but up 2% today and 9% over the past week. In a tweet, Angel Raynor criticized the Conservative Party or 'Tories,' blaming their management of the economy for the fall in the pound. The pound has been on a steady decline against the USD since 2007 and the subsequent financial crisis.

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Image courtesy of "TorFX News"

GBP/EUR Forecast: Emergency BoE Hike to Prop Up GBP? (TorFX News)

The Pound (GBP) wavered higher against the Euro (EUR) through the first half of last week, as expectations of a 75-bp interest rate rise from the Bank of ...

We expect the BoE to intervene in some way this week. If the bank announces an emergency rate rise to shore up Sterling, GBP/EUR could regain some ground. Such a reading would likely boost European Central Bank (ECB) rate rise bets, thereby supporting the single currency. You can see the expectations rising literally by the minute… Investors are now better on UK interest rates topping 6 per cent by the first half of next year. Kwarteng unveiled £45bn of unfunded tax cuts – the largest tax-cutting event in 50 years.

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Image courtesy of "Exchange Rates UK"

Pound-to-Euro Forecast As Sterling In NEW Freefall - How Low Will ... (Exchange Rates UK)

The Pound Euro (GBP/EUR) exchange rate initially staged a rocky recovery from a 17-month low last week. However, a worrying reaction to the government's ...

However, the Pound was able to gain on an even weaker Euro (EUR). Their goal is to connect clients with ultra competitive exchange rates and a uniquely dedicated service whether they choose to trade online or over the telephone. Save money on your currency transfers with TorFX, voted International Money Transfer Provider of the Year 2016 - 2020. This saw Sterling spike on Thursday morning ahead of the decision, only to slip after the bank delivered a smaller rate rise of 50 basis points. However, from there on out the Euro faced a bumpy road. Looking ahead, economic data is sparse through the first half of this coming week. The single currency was initially under pressure on Friday after the Eurozone’s latest PMI surveys revealed deepening contractions in both services and manufacturing activity. However, a worrying reaction to the government’s mini-budget saw Sterling slump back down. Kwarteng also revealed that the government’s energy package would cost £60bn for the first six months, paid for through borrowing. This could boost However, the bloc’s flash inflation rate is forecast to reveal another sharp rise on Friday. Wednesday brought greater success for GBP/EUR, despite headwinds for the Pound.

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