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Tag: Pound

Pound falls more than 1% after BoE move
Economy

Pound falls more than 1% after BoE move

The British pound sank Thursday by more than one per cent against the dollar after the Bank of England intervened in the bond markets to head off a fresh financial catastrophe. Sterling slid as low as $1.0763 in early morning London deals one day after the BoE snapped up long-dated government bonds, or gilts, to […]

Pound falls more than 1% after BoE move
Economy

Pound hits 37-year low against dollar

The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried about the economic outlook with central banks ramping up interest rates to fight runaway inflation. Sterling fell as low as $1.1151 — its weakest since early 1985 — after the Bank of England on Thursday hiked borrowing costs […]