Previous close | 157.7050 |
Open | 157.7040 |
Bid | 157.9230 |
Day's range | 157.3890 - 158.3390 |
52-week range | 137.4050 - 159.7330 |
Ask | 157.9280 |
The British Pound (GBP) concluded last week on a downbeat note due to a significant contraction in the U.K.'s service sector, which accounts for over 70% of the country's GDP, according to recent surveys. The downturn has heightened recession fears and led to speculations that the Bank of England (BoE) may have ended its cycle of interest rate increases.
On Friday, September 22, the Bank of Japan left its negative interest rates unchanged and did not offer any clear guidance as to when a shift in its historically loose monetary policy might be brought in line with its global peers.
Investing.com -- European Central Bank president Christine Lagarde on Friday called for higher-for-longer interest rates to achieve the central bank's key objective of bringing inflation back to its 2% target.