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John Allan argued the move was unfairly affecting those on modest incomes.

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10 May, 2022 / 10:09

Heathrow Airport has increased its 2022 passenger number forecast by 16% following a 'strong' April.

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10 May, 2022 / 07:49

The Bank of England has a mandate to keep inflation at 2% but with forecasts putting it at 10% in just a couple of months, an official has warned of the risks households face if the central bank gets it wrong.

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09 May, 2022 / 15:54

The government said it is keeping 'all options open' to address the crisis.

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09 May, 2022 / 15:35

Britain's battered pound fell to its lowest level since June 2020 against the dollar for a third straight day on Monday as analysts turned increasingly bearish on the outlook for the currency after a policy meeting last week. There was a brief respite as the dollar came under broad-selling pressure, although by late London trading the pound was heading lower again. "We're looking for cable (sterling/dollar) to fall to $1.20 in the next month or so," Nomura currency strategist Jordan Rochester saiding a massive shock to global growth from lockdowns in China and soaring energy prices as reasons for that outlook.

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09 May, 2022 / 14:35

The British pound is trying to recover against the US dollar during early trading on Monday, after initially falling. At this point, the market is more likely oversold than anything else.

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09 May, 2022 / 13:36

GBP/USD settled below the support at 1.2290 and is testing the next support level at 1.2275.

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09 May, 2022 / 06:43

The war in Ukraine and tighter lockdowns against COVID-19 in Beijing and Shanghai have created uncertainty over economic growth in Europe and Asia. This week sees the release of Germany's ZEW sentiment index and preliminary first quarter GDP data from the U.K., and these are likely to point to slowing growth in two of Europe’s largest economies. Data earlier Monday from China showed the country's export growth slowed to single digits in April, growing 3.9% in April from a year earlier, compared with the 14.7% growth reported in March.

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09 May, 2022 / 02:52

The British pound has fallen significantly during the course of the trading week, slicing through the 1.25 level. This is an area that is major support, and therefore it is a very negative turn of events.

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06 May, 2022 / 14:48

The British pound has fallen rather hard during the course of the week against the Japanese yen, as it looks like we are going to be testing the ¥160 level.

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06 May, 2022 / 14:44

The British pound has done very little during the trading session against the Japanese yen on Friday, as we currently sit at the 50 Day EMA.

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06 May, 2022 / 14:28

The British pound has initially fallen during the trading session on Friday before bouncing a bit after the jobs figure.

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06 May, 2022 / 14:09

Sterling was knocked as the UK faces an economic downturn, with Threadneedle Street no longer set to raise interest rates as fast as previously forecast.

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06 May, 2022 / 11:23

The UK construction sector saw the weakest rate of output growth since January.

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06 May, 2022 / 10:16

The overall proportion of seats filled on flights was higher than a year ago at the height of COVID lockdowns, with the firm flying 65.1% of its pre-pandemic capacity, compared to 19.6% in 2021.

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06 May, 2022 / 09:14