Pound climbs after Fed chair Yellen says US economy steady enough for more rate hikes; UK jobless rate hits 42-year … – Telegraph.co.uk

The U.S. economy is steadier than it used to be, and this may be good for those in the U.S. It means jobs may be more stable and people may have more money. This does affect other countries, though. The U.S. deals with other countries a lot on financial grounds. The U.K. is one country which is being affected. Their pound is becoming worth more. It’s important for those in financial fields to pay attention to this when it happens.

Key Takeaways:

  • Upon Janet Yellen’s comments that any federal rate hikes would be gradual, both the Dow and the FTSE experienced increases.
  • The goal of the US Central Bank at this time is to meet an inflation target of 2pc.
  • Another winner as a result of Yellen’s comments was the value of the dollar which experienced a rebound.

“In what may be one of her last appearances on Capitol Hill, Yellen depicted an economy that, while growing slowly, continued to add jobs, benefited from steady household consumption and a recent jump in business investment, and was now being supported as well by stronger economic conditions abroad.”

Read more: http://www.telegraph.co.uk/business/2017/07/12/pound-slumps-eight-month-low-against-euro-bank-englands-broadbentnot/

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