The Bank of England raises rates to 4.25%
Despite previous hints at stopping ongoing rate hikes, the Bank of England raised interest rates by 25 basis points to 4.25% - a 15-year high. Meanwhile, the central bank is optimistic that inflation will fall sharply in 2023, and the GBP/USD closed 21 pips higher at 1.2286.
EUR/USD declined 25 pips to 1.0830, and AUD/USD moved up 1 pip to 0.6683. USD/CAD slid 14 pips to 1.3713, and USD/JPY fell 63 pips to 130.91.
Spot gold briefly crossed the $2,000 level to $2,002.97 an ounce, and retreated to $1,993.96. WTI oil futures slipped $0.94 to $69.96 a barrel. Bitcoin and Ethereum are currently trading higher at $28,320.0 and $1,815.68 respectively.
The Nasdaq 100 climbed 162 points to 12,729. The S&P 500 edged up 11 points to 3,948, and the Dow Jones Industrial Average increased 75 points to 32,105.
EUR/USD declined 25 pips to 1.0830, and AUD/USD moved up 1 pip to 0.6683. USD/CAD slid 14 pips to 1.3713, and USD/JPY fell 63 pips to 130.91.
Spot gold briefly crossed the $2,000 level to $2,002.97 an ounce, and retreated to $1,993.96. WTI oil futures slipped $0.94 to $69.96 a barrel. Bitcoin and Ethereum are currently trading higher at $28,320.0 and $1,815.68 respectively.
The Nasdaq 100 climbed 162 points to 12,729. The S&P 500 edged up 11 points to 3,948, and the Dow Jones Industrial Average increased 75 points to 32,105.