Over the last week we have only seen a slight recovery on Sterling exchange rates, with GBPEUR now reaching 1.1680 and GBPUSD now reading 1.2750- which is still 1.5% away from the highs just two weeks ago.
There’s a remarkable change sweeping across the iGaming landscape, with enhancements in e-payment technologies. In the past, patrons relied on physical cash or traditional banking processes to fund their gaming needs. It’s noteworthy that those days are behind.
The Australian Dollar has strengthened overnight against a number of currencies after Reserve Bank Governor Michele Bullock stated that central bank wouldn’t hesitate to hike interest rates again if inflation again becomes a problem. Earlier this week the central bank had decided to keep rates unchanged, but did provide a hawkish outlook with inflation proving sticky.
Despite some buoyant UK data releases yesterday, in the construction surveys and more importantly British Retail Sales last month, it has done little to help The Pound as this morning we’ve seen further losses against both EUR & USD.
Since the end of last week GBP has lost battles against its peers, noticing big losses against both the EUR and USD. Yesterday and in this morning session, we have seen continuation of concerns for the GBP against the USD.
Last week ended in a pretty explosive way after fewer jobs were added in the U.S than expected last month. Unemployment rose to 4.3%- essentially showing that the Fed has been behind the curve with interest rates and is clearly pretty late to the party- with the first cut expected in September, markets are now pricing in 100bps of cuts by the Fed in 2024- some even calling for emergency intervention.
BOJ (Bank of Japan) raised interest rates for its second time of 2024, first one taking place back in March. Economically it’s a very different situation to the likes of BoE and Federal Reserve. Japan’s new interest rate moved from 0.1% to 0.25%, the highest it has been in 15 years.
Amidst the constantly changing financial scene, borrowing choices have expanded to provide customized answers for different requirements and situations. Logbook loans are one such choice that has gained popularity.
