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The Bank of England holds interest rates steady for a fourth straight meeting
The Bank of England issued its interest rate decision on Thursday at the conclusion of its June 18 meeting, leaving rates unchanged at 3.75%, the lowest level since December 2022, in line with market expectations and marking the fourth consecutive meeting with no change.
This statement is positive for the British pound.
Dollar hits one-year high as bets on higher US interest rates intensify
The US dollar climbed to its highest level in more than a year on Thursday after the Federal Reserve left interest rates unchanged while adopting a more hawkish tone, reinforcing investor expectations that additional rate hikes could be delivered in the coming months. Meanwhile, renewed weakness in the Japanese yen prompted fresh verbal warnings from Japanese officials.
MoreGold rises nearly 2% after the United States and Iran sign peace agreement
Gold prices rose nearly 2% in European trading on Thursday, resuming gains that had paused temporarily on Wednesday and moving back toward a two-week high, supported by a softer US dollar and falling oil prices after the United States and Iran signed the peace agreement electronically.
MoreSterling recovers ahead of the Bank of England policy decision
The British pound rose in European trading on Thursday against a basket of major and minor currencies, attempting to recover from a two-month low against the US dollar. Sterling was supported by a softer dollar and lower oil prices following the electronic signing of the preliminary peace agreement between the United States and Iran.
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