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Keyword: pound

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  • This is What Happens to Inflation when a Currency Gets Unpegged from the Dollar (Egypt)

    02/15/2017 4:59:31 PM PST · by Lorianne · 14 replies
    Wolf Street ^ | 13 February 2017 | Wolf Richter
    On November 3, the Egyptian Central Bank removed all exchange-rate restrictions and raised its benchmark rate by three percentage points. This was done to obtain that all-important $12-billion bailout loan the IMF had provisionally agreed to provide in August, though by November 3, the IMF’s executive committee still hadn’t ratified it. In the unofficial market, the pound had already collapsed against the dollar. With the peg gone, the official exchange rate instantly plunged from 9 pounds to the dollar to over 15 pounds to the dollar, and four days later it was at 18 pounds. On November 11, the IMF...
  • USD/CAD – Canadian Dollar Higher, BoC Business Survey Next

    07/04/2016 7:30:24 PM PDT · by Tolerance Sucks Rocks · 6 replies
    Market Pulse ^ | July 4, 2016 | Kenny Fisher
    The Canadian dollar has posted gains on Monday session, continuing the upward trend which marked the Friday. USD/CAD is trading at 1.2860. The Canadian dollar posted strong gains on Friday, which was somewhat surprising as Canadian markets were closed for Canada Day. US markets are closed on Monday for Independence Day, so there are no scheduled US events. Canada will publish Manufacturing PMI and the BoC Business Outlook Survey. With the financial markets understandably focused on the stunning Brexit vote, the Federal Reserve’s monetary policy has shifted to the back-burner. That could change later this week, with the release of...
  • Pound Plummets To New Lows; British Banks Halted After Crashing

    06/27/2016 4:22:34 AM PDT · by Helicondelta · 43 replies
    zerohedge.com ^ | June 27, 2016
    After a modestly stronger open, which saw sterling rebound to just under 1.35, the British currency has taken another sharp leg lower in recent trading tumbling another 3%, to a low of 1.3224 - taking out Friday's post-vote lows when the currency plunged over 8% - and dropping to fresh 31 year lows, as it remains under heavy selling pressure as of this moment.
  • Brexit: Global markets stunned as UK is set to leave European Union

    06/23/2016 9:56:08 PM PDT · by NRx · 103 replies
    CNBC ^ | 06-24-2016 | Holly Ellyatt
    Markets around the world have been roiled by the shock result: In Japan the Nikkei 225 was down some 7.5 percentSterling has fallen 10 percent against the dollar and 3.35 percent against the euro.The prices of Brent and WTI have both dropped some 5.8 percent.The yield on the 10-year U.S. Treasury bond has fallen 12.5 percent.Dow futures now down 700 points
  • EU Referendum - The Result - Live (Brexit Referendum Live Thread)

    06/23/2016 2:25:24 PM PDT · by goldstategop · 2,252 replies
    BBC News ^ | 06/23/2016 | BBC News
    Live coverage of the result of the EU referendum. This is a live BBC stream starting at 21:55 BST.
  • New Bank of England chief Carney will devalue sterling, PIMCO warns

    06/01/2013 4:47:53 AM PDT · by Olog-hai · 4 replies
    Daily Telegraph (UK) ^ | 1:18PM BST 29 May 2013 | Philip Aldrick
    Mark Carney will try to devalue the pound by as much as 15 percent after he takes over as Bank of England Governor in July in a last ditch attempt to cement the UK recovery, PIMCO, the world’s largest bond house, has warned. Growth in Britain is going to remain “challenged” for the next three to five years as the Government continues to shrink the public sector and cut the budget deficit. As banks and households also grapple with their excessive debts, “that leaves one policy tool outstanding, which is basically the currency”, PIMCO managing director and sterling bond head...
  • George Soros: Media Mogul (Lefty Businessman Spends Millions Funding Journalism)

    08/19/2011 8:23:22 AM PDT · by markomalley · 22 replies
    Media Research Center ^ | August 15, 2011 | Dan Gainor and Iris Somberg
    On April 8, House Democratic leader Nancy Pelosi headlined a Boston conference on ''media reform.'' She was joined by four other congressmen, a senator, two FCC commissioners, a Nobel laureate and numerous liberal journalists. The 2,500-person event was sponsored by a group called Free Press, one of more than 180 different media-related organizations that receives money from liberal billionaire George Soros. Soros, who first made a name for himself in investing and currency trading, now makes his name in politics and policy. Since the 2004 election, the controversial financier has used his influence and billions to push a laundry list...
  • Sir Winston Churchill to feature on new banknote (UK Fiver)

    04/26/2013 7:44:54 AM PDT · by C19fan · 3 replies
    BBC ^ | April 26, 2013 | Kevin Peachey
    Sir Winston Churchill will feature on the new design of a banknote which will enter circulation in 2016, the Bank of England has announced. The wartime leader's image is planned to feature on the reverse of the new £5 note, together with one of his most celebrated quotations. Churchill was chosen owing to his place as "a hero of the entire free world", said Bank governor Sir Mervyn King. The current face of the £5 note is social reformer Elizabeth Fry.
  • Hannan: Eurocrats no longer disguise their loathing of Britain (Short Video, A Lesson for America)

    12/14/2011 11:10:39 AM PST · by Bokababe · 11 replies
    Youtube ^ | 12/14/11 | Daniel Hannan
    Daniel Hannan speaking in the debate on the conclusions of the European Council meeting (8-9 December). The debate took place during the European Parliament plenary session in Strasbourg this week.
  • A Night Spent in Limbo for a Dog Returned to Sender

    10/21/2011 3:06:09 AM PDT · by KantianBurke · 114 replies
    The New York Times ^ | October 11th, 2011 | Vincent Mazzoli
    On Oct. 4, Jason Dubin drove to La Guardia Airport to pick up the newest member of his household. Six days after that first happy meeting, Mr. Dubin returned to La Guardia with that same member, a German shepherd named Emmi, and sent her on a Continental Airlines flight to Seattle with a one-way ticket. “I just couldn’t control her anymore; it was just time to part ways,” said Mr. Dubin, who made the drive from his Port Jefferson home on Long Island as Emmi, who is 5, fidgeted and barked in the back seat. Mr. Dubin had bought the...
  • China’s Central Bank Recommends Gold For “Value Preservation”

    03/27/2011 8:11:01 PM PDT · by Tolerance Sucks Rocks · 6 replies
    Forbes ^ | March 26, 2011 | Robert Lenzner
    Believe it or not Ripley! The People’s Bank of China(PBOC) recommended yesterday that 1 billion Chinese consider buying gold as a hedge against inflation and to preserve values in a world where currencies can fall. The PBOC Financial Markets Review came out just as several major currencies were indeed declining in value against gold; the dollar,1%, the Swiss franc,2.5%, t he British pound, 2%, and the Japanese yen, 2%. Wow! Be like the Fed telling you to buy oil stocks or crude oil futures due to expectation higher gasoline prices this summer. So, add the PBOC to other secular influences...
  • 747-8's one million pound takeoff

    08/25/2010 10:28:16 AM PDT · by LibWhacker · 7 replies
    Boeing ^ | 8/23/10 | Bernard Choi
    The airplane starts accelerating down the runway. In the flight deck, Captain Paul Stemer feels the weight of the situation. "It's a lot of mass, a lot of energy. I have to stay ahead of it." It's up to Capt. Stemer to command RC521, the second 747-8 Freighter, into defying gravity and lifting more than 1 million pounds into the air. It's a feat neither he nor any Boeing Flight Test pilot before him has ever attempted. While the airplane gathers speed, 100 knots, 120, 140, now 160 knots, the amount of available runway quickly evaporates. RC521 still needs to...
  • Pumped Up: Petrol Prices Hit Record High (UK)

    04/08/2010 9:03:23 PM PDT · by Cheap_Hessian · 8 replies · 423+ views
    Sky News Online ^ | April 8, 2010 | Ed Merrison
    Average petrol prices have risen to an all-time high of 120p a litre, eclipsing the previous peak of 119.7p seen in July 2008, new figures show. Revealing the data, the RAC said it was a "dark day for motorists". The record high is partly down to soaring wholesale costs, with the price of oil hitting an 18-month high earlier this week. UK drivers have also been hit by the weaker pound pushing up wholesale petrol costs, as well as fuel duty hikes from the Government.
  • Speculators Eye Next Prey: How Safe Is Britain's Proud Pound?

    03/04/2010 2:51:28 AM PST · by wolf78 · 10 replies · 516+ views
    SPIEGEL Online ^ | 03/03/2010 | Carsten Volkery
    First the euro, now the pound. Britain's currency is coming under massive pressure as speculators bet that the UK's national debt will soon get out of hand. Like Athens, London has its share of problems -- and the Brits don't have any euro zone partners to back them up. Schadenfreude may be a German word, but it has never been a foreign concept in Great Britain -- particularly in recent months as the British watch the trials and tribulations of the European common currency, the euro. The budgetary and debt problems facing Greece, Portugal, Italy, Ireland and Spain have merely...
  • Bank of England may raise interest rates as soon as March, leading economist predicts

    01/06/2010 11:46:23 PM PST · by Cheap_Hessian · 2 replies · 231+ views
    The Telegraph(UK) ^ | January 7, 2010
    The Bank of England will begin laying the groundwork for a rise in interest rates as early as March, according to one of the City's leading economists. Simon Ward of Henderson New Star reckons that in addition to ending the radical programme of quantitative easing, members of the Bank's Monetary Policy Committee will begin voting to raise interest rates from 0.5pc in February. The MPC today gives its first decision on interest rates of 2010 and is widely expected to keep them at the record low they've been at since March last year. The Bank slashed interest rates after the...
  • British Pound Teetering On The Verge Of Euro Collapse

    12/28/2009 8:11:29 AM PST · by FromLori · 15 replies · 933+ views
    The Business Insider ^ | 12/28/09 | Vincent Fernando
    Weak GDP growth, a soaring government deficit, and lack of credible plans to correct anything has led to growing concerns that the British pound could collapse -- becoming less valuable than a euro. The U.S. dollar looks like a star in comparison given higher expected GDP growth in the U.S. and more relative credibility in the government's ability to control spending in the longer term. While the pound/euro currently sits at 1.11, the next stop could be parity. The Times: Douglas McWilliams, the chief executive of the Centre for Economics and Business Research (cebr), said that the British economy was...
  • Debt Fuelled Dark Matter II

    09/28/2009 8:18:54 AM PDT · by h20skier66 · 3 replies · 308+ views
    Commodity News Center ^ | 9/28/09 | Adrian Ash
    "A mere $400bn went missing in the UK debt-savings boom of 2000-2008. Not to worry..." SEEMS WE'RE NOT the only ones trying to figure out this week where the last decade's record consumer borrowing went. "Where did all the debt go?" asked Bank of England economist Spencer Dale in a speech this Thursday in Exeter. Sadly for US and British households, however, let alone savers and investors, he had fewer answers than even we do here at BullionVault. "Household debt as a proportion of income increased from 100% to 165% in the 10 years to 2007," Dale noted of the...
  • Pound Slides Again As Markets Enter Bank of England-Fuelled Bubble' Stage

    09/21/2009 10:54:11 PM PDT · by blam · 6 replies · 766+ views
    The Telegraph (UK) ^ | 9-22-2009 | By Edmund Conway and Jamie Dunkley
    Pound Slides Again As Markets Enter Bank of England-Fuelled Bubble' StageThe pound slid closer to parity with the euro on Monday, as one of London's leading hedge fund managers warned stock markets are in a Government-fuelled bubble.By Edmund Conway and Jamie Dunkley Published: 6:26AM BST 22 Sep 2009 "Markets are now entering a bubble phase [which may last] until the end of the year," said Crispin Odey of Odey Asset Management. However, the bubble is almost entirely dependent on the Bank of England's quantitative easing (QE) policy, through which it is creating £175bn and pumping it into the system by...
  • Britain will 'obviously' join euro says Mandelson

    06/12/2009 6:02:49 AM PDT · by C19fan · 4 replies · 295+ views
    Daily Telegraph ^ | 06/11/2009 | Bruno Waterfield
    The newly promoted First Secretary of State, speaking in Berlin, hailed the euro as a saviour that had brought stability to the European Union during financial turmoil. "It is perfectly clear that the euro has been a great success in anchoring its eurozone members during this financial crisis," he said.
  • Britain's a world-leader in sharia banking - sinister and dangerous implications

    02/11/2009 6:58:09 PM PST · by Sammy67 · 6 replies · 1,025+ views
    DailyMail ^ | 2/10/09 | MELANIE PHILLIPS
    MELANIE PHILLIPS, WRITING EXCLUSIVELY FOR MAIL ONLINE Worried that Britain is going bankrupt? Cheer up – we’re about to be bought up by the Islamic world. A report by International Financial Services London reveals that Britain’s Islamic banking sector is now bigger than that of Pakistan. The study says that the UK has by far the largest number of banks for Muslims of any western country. The UK now has five fully ‘sharia-compliant’ banks – providing products which prohibit interest payments and investment in alcohol or gambling firms in accordance with Islamic sharia law – while another 17 leading institutions...