The Bank of England and HM Treasury have jointly created a taskforce to explore a potential central bank digital currency (CBDC) in the UK.
The bank of England will consider the potential of national digital currency in a historic meeting of central banks being held tomorrow.
According to a research report conducted by the UK FCA, an estimated 2.6 million UK people at some point purchased cryptocurrency.
GBPUSD successfully retraced more than 50 per cent of the recent bearish trend. GBPUSD broke below 1.2420, Can Bears sustain the bearish pressure?
Gold price regains traction at $1585 and may continue the Bullish momentum. The yellow metal corrected lower after rejecting a $1690 key resistance area.
Jon Cuncliffe of the Bank of England (BoE), has warned that the adoption of a cryptocurrency would have profound economic consequences in the UK.
Chief cashier of BoE has expressed support for the central bank digital currency (CBDC). She urged other central banks to consider developing CBDC.
UK will enter into a transition period, last until 31 December 2020. According to FCA, during the Brexit transition period, EU law will continue to apply.
The GBP has been pressured from a weak data point of view and this has stoked market expectations of a BoE interest rates cut by the end of this month.
When you pair a ‘strong currency’ against a ‘weak one’. In doing this you are stacking the odds in your favor of your trade going in your desired direction.