The pound just dived below $1.50 for the first time in more than six months
The surging dollar is taking its toll on another currency - the British pound just hit its lowest level since April.
The pound hasn't moved too much, and is down only around 0.2% in midday trade on Monday. But this morning it dropped below the $1.50 mark for the first time in more than six months, a significant sign of just how strong the dollar is right now.
Investing.com
Expectations that the US Federal Reserve will raise interest rates for the first time in around nine years are growing, and have helped make the dollar incredibly strong in the past 18 months.
Fed chairman Janet Yellen has already publicly stated her desire to raise interest rates, and will speak at the Economic Club of Washington on Wednesday, where she is expected to repeat her belief that interest rates should go up in December.
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market