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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

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

The fortunes of Irish firms exporting to the UK rely on two things - the rate of exchange between the euro and sterling and sentiment among British consumers

Exporters keep anxious eye on sterling movements

Some economists and bankers are warning that the US economy and the global economy will enter recession by the middle of 2023.

Business • 04 Nov 22

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

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

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 pound jumped more than 2% against the dollar and long-dated British government bond yields dropped further after the announcement.

Pound jumps, UK shares up after Hunt's policy U-turn

London shares rose today as new finance minister Jeremy Hunt reversed Prime Minister Liz Truss's economic plan announced three weeks ago that slammed UK markets and dented investor sentiment.

Business • 17 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

Sterling has now regained all the ground it lost in the wake of Kwasi Kwarteng's mini budget.

Sterling rises for sixth session after tax U-turn

The pound rose for the sixth consecutive session today as investors welcomed the British government's U-turn on some tax cuts and the US dollar slipped.

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