pound – DIGIT INFO

Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves’ Tax-and-Spend Storm

DIGIT — Thu, 31 Oct 2024 19:06:48 +0000

Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves’ decision to pump £70 billion into government spending—funded through additional borrowing—has stirred up significant unease among investors. They’re concerned this move could lead to higher inflation and escalating interest rates. […]

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BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning

DIGIT — Wed, 22 Feb 2023 17:30:52 +0000

According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the “institutional arrangements and social conventions behind them.” […]

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Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

DIGIT — Mon, 16 Jan 2023 06:30:04 +0000

The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have […]

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Lebanese Mint, Keep, Spend Crypto Amid Crisis, Report Unveils

DIGIT — Mon, 07 Nov 2022 06:30:04 +0000

Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealth and paying in stores, bitcoin, tether and other cryptos have started to push aside the hyperinflated Lebanese pound and the hard-to-get-hold-of […]

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Investor Richard Mills Says Economy Is Rushing Into a ‘US Dollar Crisis of Epic Proportions’

DIGIT — Thu, 20 Oct 2022 16:30:10 +0000

While the U.S. dollar has been extremely robust in recent times, compared to a myriad of fiat currencies worldwide, a number of analysts and economists think the greenback will eventually falter in an inconceivable manner. The owner of aheadoftheherd.com, Richard Mills, published a comprehensive research post on Wednesday called “Walking Dead U.S. Dollar,” warning that […]

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Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an ‘Orderly End’ in Mid-October

DIGIT — Mon, 10 Oct 2022 16:30:30 +0000

After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by […]

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USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.8 Peak ‘Is Not Ruled Out’

DIGIT — Sun, 09 Oct 2022 20:00:24 +0000

In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since then, the index has pulled pack and a recent analysis from economists at Société Générale notes that the index will […]

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Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

DIGIT — Wed, 28 Sep 2022 16:30:00 +0000

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, […]

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Bitcoin, British Pound trading volume soars 1150% as UK’s currency risks dollar parity

DIGIT — Tue, 27 Sep 2022 15:10:00 +0000

Doom and gloom for some British pound investors is neatly avoided with a Bitcoin flight.

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Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

DIGIT — Mon, 26 Sep 2022 18:24:47 +0000

The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but could the British pound’s weakness be a positive for Bitcoin.

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