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UKEF backs Leicester sustainable packaging firm in Australian expansion
UK Export Finance announces support for a UK luxury sustainable packaging company to expand into new foreign markets.
Hundreds of new UK jobs as Nigerian companies confirm millions in investment
Hundreds of new UK jobs are set to be created as Nigerian companies scale up their operations, reinforcing Britain's position as a leading global business hub.
Dollar falls as Fed signals end of rate hikes
There was big move in USD across the board yesterday as US Federal Reserve Chairman, Jerome Powell reset expectations of domestic monetary policy
At a speech at The Economic Club of New York, Powell painted a rosy picture of the current economic situation however stated that interest rates were “just below the range of estimates of that level that would be neutral for the economy that is neither speeding up or slowing down growth.” Although a hike in December is all but assured it appears the Fed is ready to pause hiking sooner than was previously expected. Markets now predict two hikes for next year instead of three with one hike being a 50/50 shot. The dovish statement saw the greenback dumped, likely to the pleasure of US President Donald Trump. USD/JPY has fallen from 114 to close to 113 and EUR/USD has bolted from around 1.1275 to make a play for the 1.14 handle. The Dollar Index which measures USD against a basket of other currencies fell from 97.5 to around 96.7. This evening sees the latest Federal Open Market Committee minutes released so there is the potential for further losses should this also carry a dovish tone