The aim of this petition is that it creates enough noise and reaches the proper authorities, such as the FSCA to ensure that the people receive what is theirs.
If you agree and want to bring them down and have them pay what’s not theirs sign this petition and share to everyone that has suffered at the hands of these scammers !The GBP/USD rate climbed to the 1.317 level on Wednesday, as the sterling gained some ground on the safe-haven dollar. If the GBP/USD rate goes up, there may be resistance at the 1.341 level and further up near the 1.364 level, while if it declines, support may be found near the 1.300 level.
Reported progress in peace talks between Russia and Ukraine has put pressure on the dollar while boosting the pound. The sterling had lost ground during the past few days though, due to the divergence in monetary policy between the Fed and the BOE.
BOE Deputy Ben Broadbent delivered a speech on Wednesday, followed by questions from the audience. Broadbent stated in his speech that policymakers should provide forward guidance and need to communicate their intentions to the public, as expectations of future interest rates affect current demand.
BOE Governor Andrew Bailey delivered a speech on macroeconomics and financial stability at an online event hosted by Bruegel on Monday. Bailey warned that the energy crisis in the UK is going to be stronger than in any year in the 1970s, stating that the energy shock to households was going to be ‘historic’. His speech was considered more dovish than expected, especially compared to the more hawkish Fed rhetoric of the past few days. Although the BOE started the year with a strong hawkish policy, there are signs that its stance may soften in the coming months, weighed down by a fragile economy.
Last week, UK finance minister Rishi Sunak announced his half-yearly budget update, amid pressure to increase government spending to mitigate the impact of the growing cost of living. Sunak also announced tax reductions, although his statements were seen as cautious and failed to provide support for the pound.
UK inflation is already at a 30-year high and expected to rise further, as the war in Ukraine raises the price of key commodities and energy. The Office for Budget Responsibility has set the 2022 GDP forecast to 3.8% from 6.0% and average inflation of 7.4% for the year with a peak rate of close to 9% in Q4. Rising commodity prices and import costs in the UK, and especially the high costs of imported energy, are driving inflation rates even higher. A tighter fiscal policy and consecutive rate hikes though may stifle the country’s economy, forcing the BOE to perform a balancing act between bringing inflation under control and allowing for economic growth.
In its latest meeting in March, the BOE announced that it would raise its benchmark interest rate by 25 base points, bringing its interest rate to 0.75%. The Bank of England is shifting to a more hawkish policy and a return to pre-pandemic interest rates this year in an attempt to tackle inflation. The BOE emphasized the role of the war in Ukraine to rising inflation rates that are driving its turn to a tighter fiscal policy.
Financial data due to be released on Thursday for the pound, include: Current Account, Quarterly Final GDP, Nationwide HPI, and Revised Business Investment, and may cause some volatility in the currency.
