Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
Home News Sterling erases post-BoE gains as Omicron weighs
News

Sterling erases post-BoE gains as Omicron weighs

by maria December 20, 2021
December 20, 2021
gawdo

LONDON (Reuters) – The British pound slipped to a three-day low on Monday, nearing $1.32 versus the greenback as a broad risk-off mood swept through financial markets.

Growing doubts about U.S. President Biden’s infrastructure program to see the light of day due to Democrat Joe Manchin’s ‘no’ is prompting a rethink about U.S. growth forecasts for 2022 while surging Omicron cases in Europe are driving worries of potential lockdowns. [L8N2T50V3]

The U.S. dollar was the chief beneficiary from the cautious mood with the British pound also hobbled by negative newsflow on the Brexit front.

Foreign Secretary Liz Truss will become Britain’s lead negotiator with the European Union over trade to Northern Ireland following the resignation of Brexit minister David Frost, the prime minister’s office said on Sunday.

Against the dollar, the British pound, edged 0.2% lower at $1.3205. Versus the euro, the pound weakened by 0.4% to 85.24 pence.

At current levels, the pound has erased all its gains sustained on the back of the Bank of England unexpectedly raising interest rates last week.

“Support from the blindsided BoE action in raising rates was only temporary with focus more on Omicron and government disarray,” NAB strategists said.

Britain’s Deputy Prime Minister Dominic Raab said on Monday he couldn’t make any guarantees when asked whether the government would impose further restrictions before Christmas to control the spread of COVID-19.

(Reporting by Saikat Chatterjee; editing by Jason Neely)

www.gawdo.com
Share on FacebookShare on TwitterShare on Linkedin
0 FacebookTwitterPinterestEmail
previous post
Oil prices slide as rapid Omicron spread dims fuel demand outlook
next post
Pro-Beijing ‘patriots’ sweep Hong Kong election with record low turnout

You may also like

Woodinville Whiskey expands with sustainable processing facility by...

June 30, 2022

Open University to focus on societal challenges that...

June 23, 2022

Aramco and Cognite join forces in new data...

June 22, 2022
Editorial & Advertiser disclosureEditorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gawdo.com
https://www.gawdo.com
  • About us
  • Advertising & Terms of Use
  • Contact Us
  • Privacy Policy

@2021 - All Right Reserved.


Back To Top
Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT