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The 1967 sterling devaluation (or 1967 sterling crisis) was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 general election, [1] but originated in the balance of payments crises of the preceding Conservative government.
The euro is also weak at the moment, so the cost of holidays in Europe has been less affected in the longer term, although the pound also struck an almost two-year-low against the euro on Monday.
UK civil society continues to respond to the hardship caused by the cost-of-living crisis, such as by running foodbanks, though some foodbank managers report both extra demand but also lower levels of donations, as the crisis means some people who could previously donate can no longer afford to do so.
(Bloomberg Opinion) -- The British pound has been on a losing streak in recent days as the likelihood increases the U.K. will leave the European Union without a trade agreement. Given the ...
Doing so may be assisted by aggressive intervention by a central bank directly, by very large currency transactions or raising interest rates, or indirectly, by another central bank with an interest in preserving the current exchange rate. As in cornering the market, attackers are left vulnerable.
The British pound on Tuesday languished near this year's low on rising worries Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a ...
The UK government attempted to prop up the depreciating pound to avoid withdrawal from the monetary system the country had joined only two years earlier. John Major authorised the spending of billions of pounds worth of foreign currency reserves to buy up sterling being sold on the currency markets. These measures failed to prevent the pound ...
Sterling traded around $1.30 on Monday, a 5-1/2-month high, unmoved by House of Commons Speaker John Bercow's decision not to immediately allow a vote on the Brexit withdrawal deal as investors ...