A combination of heightened risk appetite in global markets and UK-specific optimism lifted the pound to its highest since 2018 against the dollar on Wednesday, but it ended the European session. | January 22, 2021
The first cannabis farm has been found in London's historic financial district, where office buildings have been emptied because of lockdowns to contain the spread of COVID-19, British police said on Wednesday.
The safe haven debate: Why Bitcoin is not digital gold
Tangible benefits cannot be found in ethereal sources
Jai Bifulco of Kinesis
In parallel with Bitcoin s surge, a debate has emerged among the financial community: Will Bitcoin replace gold as a new safe haven?
JP Morgan is among the latest to compare Bitcoin to digital gold and suggests the flow of money into Bitcoin will be to the detriment of gold in its report predicting Bitcoin to hit $146,000 in the near.
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UK economy to take at least two years to return to pre-COVID-19 level – Reuters poll
It will take more than two years for Britain’s economy to recover to its pre-COVID-19 level, a Reuters poll found, but the Bank of England was still expected to keep rates steady until at least 2024 and to avoid negative borrowing costs.
The British government has been ramping up its coronavirus vaccination programme in one of the hardest hit countries by the pandemic but another national lockdown, which is hurting the dominant service industry the most, means the economy will shrink again this quarter.
Median forecasts in the Jan. 11-14 poll of over 70 economists said the economy would contract 1.4% this quarter after shrinking 2.0% in the final three months of 2020. In December, before the new national lockdown was announced, the economy was predicted to grow 1.7% this quarter.