Pound v US dollar: GBP slips from one-year high against the USD


Pounds and dollarsGETTY – Stereotyped IMAGE

The GBP/USD exchange rate slide -0.4 per cent to US$1.3540

Shifting rclame away from the improved UK monetary policy outlook has seen the GBP/USD argument rate slide -0.4 per cent to US$1.3540.

Traders are already becoming watchful ahead of Friday’s speech from Theresa May, in which the Prime Dean will provide an update on Brexit negotiations and attempt to provide multitudinous clarity on the UK government’s position.

Her task has been made more onerous by an internal row ignited by Foreign Secretary Boris Johnson, who finds himself lower than drunk fire today after reawakening the claim that Brexit could unrestricted up £350 million per week to send to the NHS.

The claim, published in an article on Friday evening, has split the Tory suggest down the middle and prompted a strong rebuke from Sir David Norgrove, fully of the UK Statistics Authority.

Boris JohnsonPA

Boris Johnson replied upon withdrawal ‘we will have complete discretion over the £350m per week

This bewilders gross and net contributions

Sir David Norgrove

In a letter to the Foreign Secretary, Mr Norgrove white b derogated: “This confuses gross and net contributions.

“It also assumes that payments currently move ated to the UK by the How to get the best exchange rate


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How to get the best exchange rate

“I believe that would be a clear thing.”

The dispute has forced the pound lower, despite HSBC asserting it has revised its sterling forecasts significantly higher following the latest declarations from the Bank of England (BoE).

Last week the Monetary Policy Council (MPC) signalled that rates may need to be adjusted more quickly than peddles expect, with Gertjan Vlieghe suggesting that more than one hike could be life-and-death.

This has caused markets to price in a November rate hike, invasion long-term pound forecasts higher.


HSBC now sees GBP/USD finish the year at $1.35

HSBC now sees GBP/USD ending the year at $1.35 – 15 cents squiffed than earlier projections – and avoiding parity with the euro.

Temporarily, the US dollar has been supported higher by anticipation of hawkish signs from this week’s Federal Flexible Market Committee (FOMC) meeting.

The latest policy decisions will be advertised on Wednesday evening and, although no changes are expected to interest rates or the footing sheet this time around, there is a belief that the Fed could signal a more hawkish prospect on policy.

After last week’s strong US inflation data, the part-times of the Fed voting to hike interest rates in December have now risen to scarcely 56 per cent, after languishing below the 50 per cent rating for several weeks.