Pound Holds Strong Above $1.30

The pound has made a rebound to back up over the $1.30 mark, following comments from Bank of England officials implied that an increase in interest rates could soon be on the agenda. On Wednesday, Mark Carney - the Bank of England governor, said that if business investment grows then the bank could increase interest rates.

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shareprices.com - Friday, June 30, 2017

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Andy Haldane, the chief economist at the bank, added fuel to the optimism on Thursday, saying that the bank needs to look seriously at a possible rate increase.

The pound is standing at $1.3010, and is also up against the Euro.

In the stock markets, the FTSE 100 has slipped by 26.32 points, down to 7,324.00 - in part because oil companies are weighing on the index. Royal Dutch Shell is down by 1.4 percent, and BP is down by 1.6 percent.

Meanwhile, in the smaller caps, Game Digital’s shares have slipped by 30 percent after the video game retail specialist issued a profits warning. They said that trading had been adversely affected by lower than expected availability of supplies of the new Nintendo Switch console.

Game has had a turbulent history, having been forced to restructure a few years ago and sell of many branches because of falling sales caused by the increasing move towards digital distribution of games, and the way that retailers are trying to disincentivise the purchase of pre-owned games, which have traditionally been a major source of income for the bricks and mortar video game retailers.

 

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