Gbp news
Here are the latest news and updates on the British Pound (GBP):
Current Exchange Rate:
- GBP/USD: 1.3150 (as of 10:00 AM GMT)
- GBP/EUR: 1.1440 (as of 10:00 AM GMT)
Recent News:
- UK Inflation Rate Rises to 2.5%: The UK's Consumer Prices Index (CPI) rose to 2.5% in August, up from 2.1% in July, according to the Office for National Statistics (ONS). This is the highest inflation rate since November 2017.
- BoE Keeps Interest Rates Unchanged: The Bank of England (BoE) kept its benchmark interest rate unchanged at 0.75% in its latest monetary policy decision. The BoE also maintained its quantitative easing program.
- UK GDP Growth Slows: The UK's gross domestic product (GDP) grew by 0.3% in the second quarter of 2022, down from 0.4% in the first quarter, according to the ONS.
- Brexit Talks Resume: The UK and EU have resumed talks on a post-Brexit trade deal, with the UK's Chief Negotiator, David Frost, saying that the talks are "constructive" but "difficult".
- GBP Weakens Against USD: The GBP has weakened against the USD in recent days, due to concerns over the UK's economic outlook and the impact of Brexit on the country's trade relationships.
Upcoming Events:
- UK GDP Growth Rate (Q3): The ONS will release its latest GDP growth rate data for the third quarter of 2022 on October 25th.
- BoE Interest Rate Decision: The BoE will make its next interest rate decision on November 3rd.
- UK Inflation Rate (September): The ONS will release its latest inflation rate data for September on October 18th.
Market Analysis:
- GBP/USD Technical Analysis: The GBP/USD pair is trading below its 50-day moving average and is likely to face resistance at the 1.3200 level.
- GBP/EUR Technical Analysis: The GBP/EUR pair is trading below its 50-day moving average and is likely to face resistance at the 1.1500 level.
Please note that the above information is subject to change and may not reflect the current market situation. It's always a good idea to consult with a financial advisor or a reputable news source for the latest information on the British Pound and other currencies.