Borrowing costs surge as gilts close in on 27-year low August 26, 2025 Long-dated gilts plunged to a near 27-year low on Tuesday, bringing the UK’s fragile fiscal position into even sharper relief in the run-up to the government’s second Budget this Autumn. The yield on 30-year UK government bonds, which moves inversely to the price, jumped by as much as nine basis points to 5.63 per cent, [...]
Pound edges up against dollar after Trump’s latest Fed attack August 26, 2025 The pound gained from a turbulent US dollar trading session on Tuesday after the greenback was stung by President Donald Trump’s attacks on the Federal Reserve. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – tumbled as much as 0.4 per cent as Trump said he had “sufficient [...]
Trump says he will fire Federal Reserve governor August 26, 2025 President Donald Trump has said that he is firing Federal Reserve governor Lisa Cook. The unprecedented move would constitute a sharp escalation in his battle to exert greater control over what has long been considered a financial institution independent from day-to-day politics. Mr Trump said in a letter posted on his Truth Social platform that [...]
Dovish Powell hints at more rate cuts in US August 22, 2025 The Federal Reserve is likely to cut US interest rates at its next decision in September, Jay Powell has said, despite the country’s softening labour market being in conflict with upward pressure in prices from Donald Trump’s tariffs. In an eagerly anticipated address at the Jackson Hole symposium, the Fed chair highlighted slower economic growth, [...]
‘Yesterday man’: How Powell’s Fed exit will open the door to Trump August 20, 2025 With Jerome Powell’s term as chair expiring in 2026, President Trump is closing in on Fed control after months of animosity, says Helen Thomas The great central banker jamboree takes place this weekend at Jackson Hole, Wyoming.This annual symposium organised by the US Federal Reserve brings together the top mindsin economic academic thought – and [...]
Gold market turmoil as tariffs and Fed governor drive prices higher August 8, 2025 The gold market was plunged into turmoil on Friday after Donald Trump unveiled a dovish new Federal Reserve governor and slew of new tariffs including hefty duties on kilo gold bars from Switzerland. The precious metal rose more than one per cent through across Wednesday and Thursday – taking the spot price above $3,400 per [...]
Wall Street banking giants ride tariff rebound to booming revenue July 16, 2025 Wall Street’s banking titans have rounded off second-quarter earnings seasons largely breezing past analyst expectations as revenues boomed on the back of market volatility. The lenders continued a trend from the first-quarter with strong trading and investment banking revenues driving a robust performance. JP Morgan pocketed $45.7bn in revenue, outperforming its $44bn estimate. This came [...]
Trump’s renewed Fed attacks help pound climb to three-year high June 26, 2025 The pound has stormed to its highest level against the dollar in over three years after President Donald Trump launched a new tirade of attacks on the Federal Reserve. Sterling rose over 0.6 per cent to near $1.3725 as Trump indicated he was lining up successors for the Fed’s chair Jerome Powell, despite Powell’s term [...]
Dollar weakens as ‘confidence in US assets continues to erode’ June 17, 2025 The US dollar’s traditional safe-haven status has continued to take a bruising, as investors shun the currency amid rising global tensions. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – has tumbled to around 98, compared to nearly 110 at the beginning of the year, as the currency [...]
FTSE 100 shrugs off Israel-Iran strikes June 16, 2025 The FTSE 100 was unmoved by simmering tensions in Israel and Iran, despite reports that the UK was scrambling to send fighter jets, and conflict in the Middle East was on the brink of a significant escalation with US involvement. The UK’s leading index was up 0.2 per cent after the first hour of trading, [...]