Latest news with #Rabobank
CNBC
a day ago
- Business
- CNBC
Sterling keeps climbing on struggling dollar
The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. "The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range," Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. "Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving," Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as "the overhang of a very large debt/GDP ratio and a UK current account deficit." Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Party lawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill.
Zawya
a day ago
- Business
- Zawya
Sterling keeps climbing on struggling dollar
LONDON - The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. "The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range," Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. "Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving," Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as "the overhang of a very large debt/GDP ratio and a UK current account deficit." Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Party lawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill. (Reporting by Alun John and Lucy Raitano; Editing by Andrew Heavens)
Business Recorder
a day ago
- Business
- Business Recorder
Sterling keeps climbing on struggling dollar
LONDON: The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. 'The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range,' Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. Dollar hovers near 3-1/2-year low as traders wager on US rate cut The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. 'Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving,' Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as 'the overhang of a very large debt/GDP ratio and a UK current account deficit.' Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Partylawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill.
Reuters
a day ago
- Business
- Reuters
Sterling keeps climbing on struggling dollar
LONDON, June 27 (Reuters) - The pound was set for its biggest weekly gain against the dollar in nearly four months on Friday and held close to its near four-year high hit the previous day, though that was more due to dollar weakness than sterling strength. The pound was last up 0.14% on the dollar at $1.13745, just off Thursday's top of $1.37701, the highest since late 2021. It was broadly steady on the euro, at 85.24 pence, underlining the fact that the move in the pound against the dollar - referred to as cable by financial markets - has much more to do with the dollar. "The gains in cable reflect mostly this year's weakness in the dollar and the strength of the euro, which has dragged the pound higher due to the limited parameters of the EUR/GBP trading range," Rabobank analysts said in a note. The pound has gained 2.2% against the dollar this week, its most since early March, as the greenback's short-lived gains during the Israel-Iran conflict fade. The main domestic support for the pound this year has come from the Bank of England being slower to cut interest rates than peers, particularly the European Central Bank, as inflation remains sticky. "Core inflation in the UK has basically stopped moving for the past year - hard to say why. BoE officials are quite concerned. That makes it difficult to cut rates and also the economic outlook is not improving," Michael Pfister, FX analyst at Commerzbank, said. Analysts also said they were watching this week's political drama given what Rabobank described as "the overhang of a very large debt/GDP ratio and a UK current account deficit." Prime Minister Keir Starmer this week sharply scaled back planned welfare cuts after more than 100 of his Labour Party lawmakers publicly opposed the reforms, which sought to shave 5 billion pounds ($6.9 billion) per year off a rapidly rising welfare bill.
The Star
2 days ago
- Business
- The Star
Dutch investors pull back from U.S. stocks amid U.S. policy concerns: Rabobank
THE HAGUE, June 26 (Xinhua) -- More than a quarter of Dutch investors have reduced their holdings in U.S. shares over the past six months due to unpredictable and unreliable U.S. policies, according to new research released by Rabobank on Thursday. The study revealed that 26 percent of respondents had either personally reduced their U.S. stock investments or had done so jointly with a partner. Additionally, nearly 60 percent said they were unwilling to allocate more capital to U.S. equities. According to Rabobank, many investors cited "uncertainty," "unpredictability," and "unreliable" when describing the U.S. market climate. The research highlighted the U.S. policies as a key factor behind this sentiment shift. The U.S. policies were frequently mentioned "as reasons why investors have become more negative about investing in the U.S.," the researchers said in a press release. "Investors see the role of the U.S. on the world stage as the biggest threat to the value of their investments over the next 12 months," they said. The findings are based on a nationwide survey conducted between April 14 and May 6, 2025. It involved 1,868 Dutch citizens aged 18 to 80, of whom 632 reported holding individual or joint stock investments.
