The pound has fallen to its lowest rates in nearly a month, largely due to speculation that the Bank of England may reduce interest rates this autumn and winter.
Economists are now forecasting a staggering 96% likelihood that the Bank of England will decrease interest rates in both November and December, which is influencing currency exchange rates.
Currently, £1 can be exchanged for about $1.30, marking the lowest level since September, indicating significant market reactions to anticipated monetary policy changes.
In contrast to the pound's decline, the FTSE and FTSE 250 indices saw an uptick of 0.38% and 0.44% respectively, while Brent Crude commodities reached a six-week high at nearly $80.
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