Pin Share 0 SharesGood morning,Yesterday sterling reached pre-pandemic levels against several of its major counterparts, including the euro which broke the key 1.20 barrier. Powell said the U.S. economy was ready for higher interest rates and a runoff of its asset holdings – dubbed quantitative tightening (QT) – to combat inflation. Powell said the world’s largest economy “no longer needs or wants” the huge financial support it has received during the pandemic, adding that policymakers must be “both humble and a bit nimble” in the face of surging price growth. Whilst every effort is made to ensure the information published here is accurate, you should confirm the latest exchange rates with WorldFirst prior to making a decision. The information published is general in nature only and does not consider your personal objectives, financial situation or particular needs.

Source: The Times January 12, 2022 09:32 UTC