Venezuela asks King Charles to release $1.95B in frozen gold from Bank of England for earthquake recovery

The post British Pound gains traction above 1.3400 as markets bet on BoE rate hikes appeared on BitcoinEthereumNews.com. The GBP/USD pair gathers strength to around 1.3430 during the Asian trading hours on Friday. The British Pound (GBP) edges higher against the US Dollar (USD) on the UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes. Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Traders increased bets on BoE interest rate hikes amid escalating tensions between the US and Iran. Markets are now fully pricing in a 25 basis points (bps) BoE rate hike by year-end, most li

The post Pound Sterling Price News & Forecast: GBP/USD trades slightly higher as the US Dollar fails to gain strong traction appeared on BitcoinEthereumNews.com. British Pound: Recovery tests key resistance against US Dollar – Scotiabank Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” Read more… British Pound elevates despite firm US claims GBP/USD trades higher near the

The post British Pound: Recovery tests key resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. Pound sentiment improves on policy repricing “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” “The recent recovery in sentiment remains important, signaling market confidence in the aftermath of PM Starmer’s June 22 resignation announcement.” “Fundament

The reforms could attract foreign investment, diversify the economy, and reduce political risk, but uncertainty remains due to past expropriations. The post Venezuela’s interim government ends PDVSA’s control over oil sector appeared first on Crypto Briefing.

The post British Pound: Flexible BoE stance supports against US Dollar – BNY appeared on BitcoinEthereumNews.com. BNY Mellon’s Geoff Yu notes that reduced Bank of England (BoE) tightening expectations are not undermining the British Pound (GBP). He argues that BoE flexibility around its mandate and reluctance to overreact to supply shocks is not hurting GBP, with consistent domestic Gilt demand and positive real rates offset by international concerns about United Kingdom (UK) growth and politics. Rate repricing leaves Pound resilient “In the U.K. and GBP’s case, whether rates are the dominant driver is questionable, given the volume of political noise still weighing on the economy. Bank of England (BOE) Governor Andrew Bailey has credited market rate moves with “doing the tightening for the BOE” and appears clearly skeptical of using further hikes to address a supply shock.” “Compared with the ECB, we believe the BOE’s flexibility around its price stability mandate is a deliberate choi

The post Bank of England Confirms Farage’s Crypto Lobbying Had No Impact on CBDC Strategy appeared on BitcoinEthereumNews.com. Key Takeaways Bank of England confirms Farage’s lobbying had zero impact on digital pound strategy. Governor Bailey states the institution identified and rejected crypto-related pressure. Reform UK leader faces increasing questions about party funding and crypto donor connections. Connections to Tether-affiliated donors spark additional concerns about CBDC opposition. Central bank maintains digital pound development proceeds independently of political interference. The Bank of England has confirmed that Nigel Farage’s attempts to sway its digital pound policy through direct lobbying proved unsuccessful. In a statement to Labour MP Joe Powell, Governor Andrew Bailey revealed that the institution successfully identified the lobbying efforts and maintained its independent stance. This disclosure has intensified examination of Farage’s connections to cryptocurrency

The post Farage’s Efforts to Sway Digital Pound Policy Fall Short appeared on BitcoinEthereumNews.com. The Bank of England confirmed that Nigel Farage tried unsuccessfully to alter its direction regarding a potential digital pound. Despite his direct discussions, Governor Andrew Bailey asserted the institution’s policy decisions remained largely unaffected by external lobbying, as revealed to Labour MP Joe Powell. Continue Reading:Farage’s Efforts to Sway Digital Pound Policy Fall Short Source: https://en.bitcoinhaber.net/farages-efforts-to-sway-digital-pound-policy-fall-short

The post Andrew Bailey denies Farage swayed Bank of England CBDC stance appeared on BitcoinEthereumNews.com. The Bank of England has reaffirmed that its work on a potential digital pound has remained independent despite claims that political lobbying may have influenced its approach. Summary Bank of England Governor Andrew Bailey said Nigel Farage did not influence the central bank’s policy on a potential digital pound. Bailey’s letter, reported by The Guardian, said no CBDC policy changes followed his meeting with Farage on cryptocurrencies. Farage continues to face parliamentary scrutiny over crypto-linked gifts as the Bank of England advances digital pound research. Bailey says CBDC policy remained independent According to The Guardian, Bank of England Governor Andrew Bailey said the central bank did not alter its position on a potential central bank digital currency after meeting Reform UK leader Nigel Farage. The newspaper reported that Bailey made the comments in a letter written