The Latest News:
- The British pound is depreciating against the U.S. dollar, pushing toward its largest weekly drop since July, reports Emma Charlton for Bloomberg.
- The U.S. dollar is strengthening on an improving economy, which has fueled speculation that the Fed will tighten its monetary policies.
- “There’s a decline in the pound versus the dollar as the dollar rebounds,” Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ Ltd., said in the article. “The U.S. data has signaled some upside to U.S. growth and the market is a bit nervous about whether the Fed could taper sooner than it expects. The U.K. economic outlook is still improving but it’s having less of a positive impact on the pound.”
- The British pound sterling is trading around 1.5922 GBP per USD.
- Earlier this week, BP boosted its quarterly dividend by 5.6 percent%, to 9.5 cents a share.
- BP also said it plans to sell an addition $10 billion worth of assets by 2015, the proceeds from which could be used to reward shareholders, possibly through a larger buyback effort.
db X-trackers MSCI United Kingdom Hedged Equity Fund
Source: Yahoo! Finance
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Max Chen contributed to this article.