Sterling slides as BOE rams home easing message
London
STERLING fell half a per cent to a one-month low against the US dollar on Tuesday, by far the biggest mover on major currency markets after the Bank of England's (BOE) sole policy hawk signalled his willingness to ease further.
The dollar inched up 0.1 per cent against the basket of currencies used to measure its broader strength, amid increasing expectations that the US Federal Reserve could raise interest rates later this year. It was up 0.1 per cent at US$1.1076 per euro and flat at 102.465 yen.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand