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Bank of England spent very little time on Greensill, Governor says

GBP/USD stays flat near 1 4150 as BoE commentary fails to trigger reaction

May 24, 2021 19:26 GMTFXStreet News GBP/USD remains on track to close the day unchanged. US Dollar Index continues to fluctuate below 90.00. BoE’s Bailey says current trends don’t support the view for additional support. The GBP/USD pair dropped toward 1.4100 during the European trading hours but didn’t have a tough time erasing its losses. After turning flat around 1.4150 in the second half of the day, the pair seems to have gone into a consolidation phase and now looks to close the day virtually unchanged. BoE’s Bailey sees current policy settings as appropriate Comments from Bank of England (BoE) officials failed to trigger a meaningful market reaction on Monday. While testifying before the Treasury Select Committee, BoE Governor Andrew Bailey said growth and inflation trend don’t support the idea that additional monetary support is needed at the moment. “I am pretty content we are on appropriate policy setting,” Bailey added. 

Jobs fears as Sanjeev Gupta puts seven UK steel plants up for sale

The near-collapse of Liberty, which has sent shockwaves through Britain s steel industry, came after its major lender Greensill tumbled into administration in March. Gupta, 50, is being investigated by the SFO over suspected fraud, fraudulent trading and money laundering and GFG s financing arrangements with Greensill. The planned sale of various Liberty plants came after representatives from Credit Suisse, which is owed millions of pounds by GFG through Greensill, met with Gupta in Dubai where he has holed up during the pandemic. In tense talks throughout the weekend, Credit Suisse and Gupta (pictured) made significant progress in agreeing a deal to get the bank and its clients their money back.

Greenwashing tops investors concerns around ESG

Greenwashing tops investors concerns around ESG
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