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Today's Bank of England's rate hike was its biggest in three decades and took the main rate to 3%

Sterling drops as Bank of England hikes interest rates

Sterling fell sharply today as the Bank of England raised interest rates by 75 basis points, a day after the Federal Reserve hiked borrowing costs by the same amount.

Business • 03 Nov 22

Sterling had started the day in a positive position against the dollar, but fell back in later trade

Sterling dips ahead of Bank of England decision

Sterling reversed earlier gains against the dollar and euro in later trade as markets braced for policy decisions from the Bank of England on benchmark interest rates aimed at curbing soaring inflation.

Business • 02 Nov 22

Analysts are now turning their focus to next Thursday's Bank of England meeting

Sterling recovery stalls but set for third weekly gain

The British pound fell against the dollar today but was still set for its third consecutive weekly gain, its longest positive streak since February.

Business • 28 Oct 22

UK Chancellor Jeremy Hunt said the plan was postponed until November 17 to allow it to reflect the 'most accurate possible economic forecast'

Sterling hits six week high as budget plan delayed

Sterling soared to six-week highs today, as Britain's new Prime Minister Rishi Sunak held his first cabinet meeting and a decision to delay the announcement of a plan to repair the country's public finances.

Business • 26 Oct 22

Sterling moves higher ahead of Rishi Sunak's appointment as British Prime Minister

Pound rises as Sunak becomes Prime Minister

Sterling rose today due to improved risk sentiment as Rishi Sunak became Britain's prime minister, while the euro steadied ahead of an expected rate hike by the European Central Bank on Thursday.

Business • 25 Oct 22

Sterling strengthened today as Boris Johnson bowed out of leadership race

Sterling supported by Rishi Sunak news

Sterling took support today on the news that former finance minister Rishi Sunak is set to become British prime minister after other candidates quit the race to lead the Conservative Party.

Business • 24 Oct 22

The Nikkei, citing a source, also said Japan had intervened to buy yen and sell dollars

Japanese yen jumps as traders suspect intervention

Japanese authorities likely intervened in markets to stem the slide of the country's battered currency, market participants said, following an unexpected jump in the yen against the dollar.

Business • 21 Oct 22

Sterling hit by UK political uncertainty

Sterling falls on political uncertainty as Truss quits

Sterling fell as economic and political uncertainty weighed today after the resignation of British Prime Minister Liz Truss, following the unravelling of her vast planned tax cuts which crashed the pound and sent borrowing costs soaring.

Business • 21 Oct 22

Sterling rallies after the dramatic events in London today

Sterling rallies as Prime Minister Liz Truss resigns

Sterling rallied and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.

Business • 20 Oct 22

Currency markets are on high alert for any signs of an intervention from Japanese authorities

Yen falls past 150 per dollar for 1st time in 32 years

The dollar hit the symbolic level of 150 yen today as the greenback was supported by Treasury yields trading at multi-year highs.

Business • 20 Oct 22

Today's inflation numbers continue a turbulent week for sterling

Pound weakens as UK inflation returns to 40-year highs

Sterling fell today after data showed surging food prices pushed British inflation into double digits last month, leaving investors to weigh up the outlook for interest rates after the scrapping of most of the government's "mini-budget".

Business • 19 Oct 22

Sterling paused today, after surging almost 2% yesterday

Sterling pauses after UK fiscal U-turn rally

The dollar lost ground against sterling and other major peers today as investor sentiment picked up following the UK's dramatic U-turn over the tax-slashing mini budget that had roiled global markets.

Business • 18 Oct 22

The British government is set to reverse more of its controversial mini-budget

Sterling sinks after finance minister's sacking

Sterling fell against a strengthening dollar today after the British government cancelled only part of its fiscal programme, disappointing investors who had expected a bigger U-turn.

Business • 14 Oct 22

Bank of England Governor Andrew Bailey has been unequivocal that the central bank will end its emergency bond-buying tomorrow

Sterling rallies after reports of UK tax U-turn

The pound held firm in volatile trade today, having surged to a one-week high after reports of a possible U-turn by the UK government on its fiscal plans, before strong US inflation data tempered some of those gains.

Business • 13 Oct 22

The Bank of England's latest intervention has had little impact on the pound

Sterling falls again as turmoil dogs the bond market

The pound fell for a fifth day today as the turmoil engulfing UK government bond markets forced the Bank of England to step in yet again to attempt to stem a damaging sell-off in the country's debt.

Business • 11 Oct 22

Sterling plunged to a record low of $1.0327 on September 26

Sterling slips again as investors await US jobs data

Sterling edged lower today after a sharp drop the previous day, as investors waited for tomorrow's highly significant US jobs data.

Business • 06 Oct 22

After tumbling to a record low of $1.0327 last week in the aftermath of the government's 'mini-budget', the pound has recovered some ground

Sterling softens after UK PM Truss speech

Britain's pound weakened against the dollar today, ending a six-day rally but avoiding recent lows as British Prime Minister Liz Truss sought to overcome a chaotic first month in office with her speech to the annual Conservative party conference.

Business • 05 Oct 22

The Frankfurt DAX and the Paris CAC soared more than 3% in value today

World markets surge on interest rate hopes

European shares rose sharply today, in line with global peers, boosted by growing hopes that central banks may ease the pace of future interest rate hikes as they attempt to bring down high inflation.

Business • 04 Oct 22

Sterling climbed higher after the British finance minister said he was reversing a plan to scrap the UK's highest rate of income tax

Sterling gains after British government tax U-turn

Sterling jumped against the dollar today after Britain reversed a plan to cut the highest rate of income tax, and the dollar was also down against the yen and euro.

Business • 03 Oct 22

The euro is in an unusual position of getting stronger against sterling, but weaker against the dollar

Coining it: What currency shifts mean for Ireland

The euro is getting weaker against the dollar but stronger against the pound, which is having a strange impact on the global buying power of Irish consumers and businesses, writes Adam Maguire.

Business • 02 Oct 22

Oil prices were shored up by a drop in the dollar from 20-year highs earlier in the week

Oil set for weekly gain as OPEC+ considers output cut

Oil prices edged lower today but were on track for their first weekly gain in five on Friday, underpinned by the possibility that OPEC+ will agree to cut crude output when it meets on October 5.

Business • 30 Sep 22

The euro is heading for a weekly gain as some calm returned to foreign exchange markets at the end of a wild week

Euro falls after inflation but heads for weekly gain

The euro dropped today after inflation in the euro zone hit a record high, but was heading for a weekly gain on hawkish signals from the European Central Bank as some calm returned to foreign exchange markets at the end of a wild week.

Business • 30 Sep 22

Leading members of OPEC+ have begun talks about an oil output cut when they meet on October 5

Oil near $90 as OPEC+ considers output cut

Oil prices steadied this afternoon as indications that OPEC+ might cut output were tempered by a stronger dollar and weak economic outlook.

Business • 29 Sep 22

Oil prices are coming under pressure from a dollar and crude storage builds that offset support from US production cuts caused by Hurricane Ian

Oil prices rise on surprise drop in US crude

Oil prices rose today following unexpected drawdowns in US crude and fuel stocks, outweighing downward pressure from the continued strength in the US dollar.

Business • 28 Sep 22

Sterling continues to languish near a record low on concerns over Britain's radical tax cuts to spur growth

Pound falls after Bank of England jumps into market

Sterling tumbled against the dollar today before paring some losses after the Bank of England (BOE) said it would step in to prop up the gilt market, and the dollar index touched a fresh 20-year high trading was volatile.

Business • 28 Sep 22

Dollar

Sterling drops as Bank of England hikes interest rates

Sterling dips ahead of Bank of England decision

Sterling recovery stalls but set for third weekly gain

Sterling hits six week high as budget plan delayed

Pound rises as Sunak becomes Prime Minister

Sterling supported by Rishi Sunak news

Japanese yen jumps as traders suspect intervention

Sterling falls on political uncertainty as Truss quits

Sterling rallies as Prime Minister Liz Truss resigns

Yen falls past 150 per dollar for 1st time in 32 years

Pound weakens as UK inflation returns to 40-year highs

Sterling pauses after UK fiscal U-turn rally

Sterling sinks after finance minister's sacking

Sterling rallies after reports of UK tax U-turn

Sterling falls again as turmoil dogs the bond market

Sterling slips again as investors await US jobs data

Sterling softens after UK PM Truss speech

World markets surge on interest rate hopes

Sterling gains after British government tax U-turn

Coining it: What currency shifts mean for Ireland

Oil set for weekly gain as OPEC+ considers output cut

Euro falls after inflation but heads for weekly gain

Oil near $90 as OPEC+ considers output cut

Oil prices rise on surprise drop in US crude

Pound falls after Bank of England jumps into market