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China cut its one-year benchmark lending rate by 10 basis points and left its five-year rate unchanged

Dollar steady as China disappoints

The dollar held firm on Monday following five straight weeks of gains, as investors looked ahead to the Federal Reserve's Jackson Hole symposium for guidance on where rates might settle when the dust of this hiking cycle clears.

Business • 21 Aug 23

Russia's rouble is set to gain more than 6% in what has been one of its most volatile weeks all year

Russian rouble steadies near 2-week after volatile week

The Russian rouble steadied today, hovering not far from a two-week high hit in the previous session and it is set to gain more than 6% in what has been one of its most volatile weeks all year, with the market on alert for capital controls.

Business • 18 Aug 23

Russia's rouble has shed around 30% of its value against the dollar since the beginning of the year

Rouble plunges against dollar to March 2022 low

The Russian rouble slid past 100 against the dollar today, its lowest level since March 23, 2022 - weeks after Moscow unleashed full-scale hostilities in Ukraine.

Business • 14 Aug 23

Sterling is on track for a weekly fall of 1.7%

Sterling heads for biggest weekly fall since February

The pound was on track for its biggest weekly fall since February today, as markets reacted decisively to signs that Britain may finally be turning a page on inflation.

Business • 21 Jul 23

Strong US banking results have firmed up expectations that the Federal Reserve and the European Central Bank will keep raising interest rates

Dollar, euro steady after strong US bank results

The US dollar and euro steadied today after strong US banking results firmed up expectations that the Federal Reserve and the European Central Bank will keep raising interest rates.

Business • 20 Apr 23

The dollar's 80-year-old reign as the world's reserve currency is being called into question by some commentators

Euro, dollar status should not be taken for granted

The US and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their own systems.

Business • 18 Apr 23

As the dollar continued to slip today, the euro rose to a one-year high

Dollar dips as euro hits one-year high

The dollar fell to a two-month low against a basket of currencies and a one-year low against the euro today after US producer prices unexpectedly fell in March.

Business • 13 Apr 23

US crude oil stockpiles rose unexpectedly last week to their highest in nearly two years, new figures show

Oil down after Fed comments, US crude stock build

Oil prices dipped today, having hit their lowest since late 2021 earlier this week, after Federal Reserve Chair Jerome Powell highlighted banking sector credit risks for the world's largest economy, while US crude stockpiles swelled.

Business • 23 Mar 23

Oil prices continued to stage a recovery from their 15 month lows reached yesterday

Oil rises for second day as banking fears ease for now

Oil prices rose today, extending a recovery from a 15 month low hit the previous day, as the rescue of Credit Suisse eased worries about global banking sector risks that could hit economic growth and fuel demand.

Business • 21 Mar 23

The euro was 0.5% lower against the dollar at $1.0618 today

Euro falls against the dollar after inflation data

The euro fell against the dollar today after data showed inflation in the euro zone was not as high as investors had feared based on national readings in recent days.

Business • 02 Mar 23

The pound was flat against the euro at 88.80 pence today

Sterling steadies after post-inflation slump

Sterling steadied against the dollar and euro today after a deep slump a day earlier as Britain's softer-than-feared inflation eased tightening pressures from the Bank of England.

Business • 16 Feb 23

The UK economy has avoided a technical recession, but logged zero growth in the fourth quarter of 2022

Sterling falls as UK economy grinds to a halt in Q4

The pound eased today after data showed the UK economy ground to a halt in the final three months of 2022, avoiding a technical recession, but logging zero growth.

Business • 10 Feb 23

The euro climbed 0.2% to $1.0891 after data showing Spain's consumer prices rose 5.8% in January

Euro rises as dollar slips to eight month low

The euro rose today after unexpectedly high Spanish inflation data raised expectations for a higher euro area print on Wednesday, while the dollar languished near an eight-month low ahead of a slew of central bank meetings this week.

Business • 30 Jan 23

The euro reached as far as $1.0903 today, breaking the recent peak of $1.08875

Euro clears nine month peak as ECB hawks let fly

The euro hit a nine-month peak against the dollar today as comments signalling additional jumbo interest rate rises in Europe contrasted with market pricing for a less aggressive Federal Reserve.

Business • 23 Jan 23

Against a basket of currencies, the dollar has gained around 8.6% so far in 2022 - its biggest annual jump in seven years

US dollar index set for biggest annual gain since 2015

The dollar fell today but was still on track for its biggest annual gain since 2015, in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth.

Business • 30 Dec 22

The pound fell to a session low after the Bank of England's rate decision today

Sterling falls after BoE's ninth consecutive rate hike

Sterling fell against the dollar today after the Bank of England delivered an expected half-percentage-point hike in interest rates, its ninth in a row, as it battles to bring down inflation which the bank said has now peaked.

Business • 15 Dec 22

Sterling was up 0.2% against the dollar at $1.1909 today, and up 0.17% against the euro at 86.49 pence

Sterling moves higher again today

Sterling ticked up today, rising for a second day against a faltering US dollar after preliminary British economic activity data beat expectations, though it still showed contraction was underway.

Business • 23 Nov 22

The dollar retreated today after rallying yesterday when investors rushed to the safe-haven currency on worries about China's Covid flare-ups

Dollar cedes some ground as bitcoin hunkers down

The dollar retreated today after rallying the previous day when investors rushed to the safe-haven currency on worries about China's Covid flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin.

Business • 22 Nov 22

Sterling is on track for its biggest daily decline against the dollar in almost two weeks as China battles numerous Covid flare ups

Covid in China sets sterling for big daily fall

Sterling slipped against a strengthening US dollar today as global risk sentiment was dented by rising Covid-19 cases in China, which led to new restrictions in the world's second largest economy.

Business • 21 Nov 22

Sterling has regained around 16% in value against the dollar and is trading around its highest in three months

Sterling, UK bond prices dip as Hunt gives tough budget

Sterling and UK government bond prices fell today after British finance minister Jeremy Hunt announced a string of tax increases and tighter public spending in a tough budget plan.

Business • 17 Nov 22

Sterling, which has lost over 12% in value against the dollar this year, has risen 3% so far in November

Sterling hits highest level in almost three months

The pound rose to its highest in almost three months against the US dollar today ahead of the UK government's budget this week, largely as the greenback came under fire.

Business • 15 Nov 22

This week's data-heavy week could shed light on the state of the UK economy

Sterling falters as market awaits fiscal plan

Sterling fell against the dollar today as traders braced for the UK government's fiscal statement on Thursday in a data-heavy week that could shed light on the state of Britain's economy.

Business • 14 Nov 22

Bumble's weak Q4 forecast sent the company's shares down 13% in extended trading on Wall Street last night

Bumble shares tumble after weak Q4 revenue forecast

Online dating firm Bumble has forecast fourth-quarter revenue below Wall Street expectations, as it struggles with product launch delays at a time when inflation has hit users hard.

Business • 10 Nov 22

Sterling fell today as the dollar rose on currency markets

Sterling slips as dollar edges higher, with eyes on US

Sterling fell today as the dollar rose, with investors focused on US inflation figures and the midterm elections.

Business • 08 Nov 22

The pound is trading roughly where it was in the run-up to Thursday's decision by the Bank of England to raise its benchmark interest rate by 0.75%

Euro and sterling jump, dollar falters

Euro and sterling rose against the safe-haven US dollar today, supported by a risk-on sentiment across markets with European stocks rising on persistent hopes China will ease Covid restrictions.

Business • 07 Nov 22