British Pound News

The US dollar increased against other major currencies as Federal Reserve Chair Janet Yellen said the central bank is close to raising interest rates recently.

The US dollar climbed against other major currencies as President-elect Donald Trump's potential economic policies boosted market expectation for further interest-rate increases.

British inflation recorded its sharpest jump in more than two years in September, even without any direct evidence of the weaker pound pushing up prices.

The pound slumped to a 31-year low against the dollar Tuesday on concerns over the timing of Britain`s planned exit from the European Union, according to traders.

 US stocks resumed their upwards push Friday, while the British pound retreated after weak economic data revived talk of monetary stimulus.

The pound tumbled to a new 31-year low on Wednesday, dipping below $1.28 at one point before recovering a little, as investors shunned the currency after Britain`s vote to leave the European Union.

The weakening of British pound is seen as positive by the travel agents and realty consultants in India who facilitate overseas transactions, and expect more of Indians travel to the UK on leisure tourism or investment in the property market there.

Carnage came to world markets on Friday as early voting returns suggested Britain was on the brink of leaving the European Union, threatening the existent of the entire bloc and its single currency.

 The US dollar increased against other major currencies as the economic data from the country came out better than expected.