British pound

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Key events:

The British Pound Sterling (GBP) and the United States Dollar (USD) stand as iconic currencies with intertwined histories spanning centuries of economic and geopolitical developments. In this article, we explore the origins and evolution of these currencies, delving into their historical contexts and key milestones that shaped their prominence in the global financial system. Furthermore, we examine the concepts of nominal and relative strength in currency, understanding how these measurements play pivotal roles in assessing a currency's purchasing power and its impact on trade dynamics.

Key events:   USA - Existing Home Sales (Jul) US Treasury yields reached their highest point in a decade, European equities rebounded from a six-week low, and the Nasdaq surged over 1% on Monday, with investors anticipating the upcoming Federal Reserve meeting in Jackson Hole, Wyoming, scheduled for Friday. The trading session on Wall Street displayed mixed results: the Dow Jones Industrial and the S&P 500 relinquished their early gains, while the technology-focused Nasdaq Composite ascended, buoyed by optimism surrounding earnings.

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Key events: Eurozone - EU Leaders Summit Canada - Core Retail Sales (MoM) (Aug)  

Key events: Eurozone — CPI (YoY) (Sep) USA — Core PCE Price Index (MoM) (Aug) After the new British government announced its spending plans, it led to a sharp collapse of the country's national currency and an equally sharp rise in long-term bond yields. To stabilize the crumbling debt market, the Bank of England now plans to buy as many government bonds as necessary.

Key events: USA - Fed Chair Powell Speaks ECB President Lagarde Speaks USA - Core Durable Goods Orders (MoM) (Aug) USA - CB Consumer Confidence (Sep) USA - New Home Sales (Aug)