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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

The pound fell to a record low against the dollar on Monday, having plunged the previous Friday after the UK government announced unfunded tax cuts.

Bitcoin-sterling volumes spike to record high

Trading volumes between the British pound and the cryptocurrency bitcoin spiked to a record high after sterling dropped on Monday, according to market data firm Kaiko Research, in what analysts said was likely a rush by investors to dump their sterling for the digital asset or profit from arbitrage.

Business • 29 Sep 22

Labour leader, Keir Starmer delivers his keynote speech to the Labour Party Conference in Liverpool

Labour surges to 33-point lead over Tories - YouGov

Britain's opposition Labour party has surged to a 33-point lead over the ruling Conservatives, according to a YouGov poll, after days of chaos in financial markets triggered by the government's planned tax cuts.

Business • 29 Sep 22

Bank of England said the bond purchases were designed to restore orderly market conditions

Bank of England to start unlimited bond purchases

The Bank of England said today that it would buy as many long-dated government bonds as needed between now and October 14 to stabilise financial markets, and added that it would postpone next week's start of its gilt sale programme.

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

The IMF has urged the UK finance minister Kwasi Kwarteng to change course when he comes back to the UK parliament in November

Bank of England launches government bond programme

The Bank of England has said it will launch a temporary UK government bond-buying programme as an emergency move to stave off a "material risk to UK financial stability".

Business • 28 Sep 22

Sterling has dropped 5% since Thursday and 21% this year against a backdrop of an ever stronger dollar

Falling pound pauses as investors await policy response

Sterling steadied this morning but was perched above its record low only thanks to soaring yields on British debt and the hope of a response from policymakers or politicians.

Business • 27 Sep 22

Sterling has lost 21% of its value since the start of the year

A history of sterling's crises and crashes

Sterling plunged to an all-time low early today as international investors reacted to plans laid out by the country's new prime minister and finance minister to slash taxes and ramp up spending to cushion soaring energy prices.

Business • 26 Sep 22

The pound plunged nearly 5% at one point today to $1.0327, breaking below 1985 lows

BOE eyes market turmoil, 'will not hesitate' to act

The Bank of England has said it would not hesitate to change interest rates and was monitoring markets "very closely" after the pound plunged to a record low and British bond prices collapsed in response to the new government's financial plans.

Business • 26 Sep 22

Sterling falls after Russian President Vladimir Putin's speech

Putin speech sends sterling to fresh 37-year low

The pound touched a new 37-year low against the dollar today after Russian President Vladimir Putin's accusation of "nuclear blackmail" by the West boosted the safe-haven dollar.

Business • 21 Sep 22

Sterling has fallen to a new 37-year low against the US dollar today

Pound at 37-year low on anniversary of Black Wednesday

Sterling marked the 30th anniversary of "Black Wednesday" today by falling to a fresh 37-year low against the US dollar and a 19-month trough against the euro, after weaker-than-expected retail sales figures reinforced fears about Britain's economy.

Business • 16 Sep 22

Sterling has been battered recently by bad news about Britain's faltering economy, persistent inflation and mounting energy crisis

Sterling creeps higher despite downbeat data

Sterling tiptoed up today despite data showing Britain's jobs boom is fading, as the employment report was overshadowed by weakness in the dollar ahead of an update on US inflation that could herald a softer stance from the Federal Reserve.

Business • 13 Sep 22

The Central Bank is still offering an exchange service for old Irish pound notes or coins as well as damaged euro notes and coins

Central Bank currency exchange services still in place

The Central Bank said today that it continues to exchange old Irish pound notes or coins for euro and has no plans to withdraw this service.

Business • 13 Sep 22

The pound fell to as low as 87.215 pence per euro, taking it back to levels last seen in early 2021

Sterling falls to weakest since early 2021 against euro

Sterling fell to its lowest level since early 2021 against a robust euro today, while news that Britain's economy grew less than expected in July highlighted a weak growth outlook.

Business • 12 Sep 22

The euro has moved higher as European Central Bank officials push the case for further aggressive monetary tightening

Euro at 3-week high amid ECB interest rate signals

The euro jumped to a more than three-week peak to the dollar today, and sterling rose to the highest this month as European Central Bank officials pushed the case for further aggressive monetary tightening.

Business • 12 Sep 22

Sterling jumped against the dollar today, as most big currencies fought back against the greenback's recent strength

Sterling takes advantage of falling dollar

Sterling jumped against the dollar today, as most majors fought back against the greenback's recent strength, capping a volatile week in which the pound hit a 35-year low, Britain saw a new prime minister, and Queen Elizabeth passed away.

Business • 09 Sep 22

Sterling has lost nearly 10% of its value since early June - a huge move for one of the world's major G10 currencies

Sterling returns to the 1980s - and may get cheaper

Sterling's slide against the dollar to a rate last seen in 1985 has sparked talk of a dramatic spiral downwards that ends in a collapse in confidence in British assets and a balance of payments crisis.

Business • 08 Sep 22

Economic problems in Europe continue to contrast with a strong US economy

Dollar stomps on yen, sterling under heavy pressure

The dollar was lord of all it surveyed today, hitting a fresh 24-year peak on the rate-sensitive yen and retesting multi year highs on the euro and sterling as economic problems in Europe contrasted with a strong US economy.

Business • 07 Sep 22

UK household bills are due to jump by 80% in October

Sterling climbs as Truss hints at energy relief

Sterling rose today as media reports offered new details on how new British Prime Minister Liz Truss is planning to tackle Britain's growing energy crisis.

Business • 06 Sep 22

Liz Truss won the ruling Conservative Party's leadership contest today with 57.4% of the vote today

Sterling near 2.5 year low as Truss to become new UK PM

The pound was stuck near two and half year lows against the dollar today as Liz Truss was set to become Britain's next prime minister after winning a leadership race for the governing Conservative Party against a deteriorating economic backdrop.

Business • 05 Sep 22

The pound was down 4.4% for the month of August and was last trading at $1.1645

Sterling set for worst month since 2016 against dollar

Sterling is set for its worst month since late 2016 against the dollar and its worst versus the euro since mid-2021 as fears the British economy is slowing sharply just as inflation gathers pace has sent investors rushing to sell the currency.

Business • 31 Aug 22

The euro/dollar's direction this week has largely been driven by soaring natural gas prices

Euro bounces back above parity as sentiment improves

The euro rebounded back above parity with the dollar today as the US currency's recent rally ran out of steam and investors waited to see whether Federal Reserve Chair Jerome Powell would sound a more hawkish tone at a meeting this week.

Business • 25 Aug 22

The euro was back under pressure at $0.9950 in early European trade - barely above a low of $0.99005

Euro slips towards two-decade low on high gas prices

The euro was within a whisker of a two-decade low today amid growing recession fears fuelled by a possible energy supply crunch.

Business • 24 Aug 22

The euro hit $0.9905 today - its lowest since late 2002

Euro falls to new two-decade low against the dollar

The euro hit a fresh two-decade low today, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain.

Business • 23 Aug 22

Sterling fell 0.6% against the euro to 84.20 pence after the interest rate decision from the Bank of England

Pound slips as Bank of England delivers big rate hike

Sterling fell today after the Bank of England raised interest rates by the most in 27 years but warned that a long recession is on its way with inflation seen topping 13%.

Business • 04 Aug 22