England dollar rate

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/asian-currencies-mixed-ahead-of-fomc-meeting-191586d4 1401 GMT – The dollar could rise sharply if the Federal Reserve raises interest rates at Wednesday’s meeting despite the latest U.S. inflation data easing, Ebury says. Data on Tuesday showed U.S. inflation fell to annual rate of 4.0% in May from 4.9% in April, which is reducing market expectations for a rate rise on Wednesday and weighing on the dollar, Ebury strategist Matthew Ryan says in a note. “A rate increase in June would be a major shock to markets,” he says. “If it did happen, the dollar would likely rip higher, regaining strength after a period of losses.” The DXY dollar index falls 0.4% to 103.287, having reached a three-week low of 103.047 shortly after the inflation data. ( Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-00...

Britain’s currency jumped around 0.7 per cent today to nearly $1.27, taking it to its strongest level against the greenback since April 2022 (Photo Illustration by Matt Cardy/Getty Images) Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation. Britain’s currency jumped around 0.7 per cent today to nearly $1.27, taking it to its strongest level against the greenback since April 2022. Purchasing managers’ indexes have indicated consumers are still willing to spend at a decent clip despite inflation eroding their incomes and elevated rates making borrowing less affordable. April’s inflation number also shocked the City and the Bank by coming in at 8.7 per cent. Core inflation – which strips out volatile food and energy prices – rose to 6.8 per cent, suggesting prices are beginning to be driven by domestic factors, which are harder to eradicate. As a result, traders think Bailey and co are on course to lift rates to a peak of at least 5.75 per cent from their current level of 4.5 per cent. That would mark the highest level since July 2007. Next Thursday, the MPC may even raise rates 50 basis points, some corners of the market reckon. Contrastingly, Fed Chair Jerome Powell and the federal open market committee are poised later today to leave borrowing costs unchanged for the first time in ten meet...