iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Sterling remains stable

20 Jun 2024 , 05:08 PM

The British pound remained generally stable on Thursday ahead of the Bank of England’s (BoE) rate announcement later in the day.

Currencies traded in tight ranges following a holiday in the United States, as investors focused not only on the BoE but also on central bank decisions in Switzerland and Norway.

Sterling last traded at $1.2719, up slightly from the previous session, while the euro gained 0.03% to $1.0747.

The dollar fell 0.05% against the yen to 157.99, although the Japanese currency stayed close to its over-one-month low of 158.255 per dollar set last week.

Against a basket of currencies, the dollar was barely changed at 105.23, some distance from last week’s one-month high.

The BoE is widely expected to keep interest rates unchanged on Thursday, with the focus on any guidance on when an easing cycle could begin.

While data released on Wednesday revealed that British inflation returned to its 2% target in May for the first time in over three years, the report’s specifics indicated significant underlying price pressures, shutting out the possibility of an early rate cut.

Meanwhile, the Australian dollar rose 0.01% to $0.6673, while the New Zealand dollar remained stable at $0.6131.

Data released on Thursday revealed that New Zealand’s economy expanded faster than predicted in the first quarter but remained soft. This had minimal impact on market expectations for the country’s interest rate prospects.

For feedback and suggestions, write to us at editorial@iifl.com

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/

Related Tags

  • Dollar
  • Euro
  • Streling
  • Yen
sidebar mobile


Read More

Most Read News

ONGC Shares hit All time High
16 Jul 2024|01:47 PM
Sensex and Nifty in green
16 Jul 2024|01:47 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.