Pound hits three-week low after Bank of England says slowing jobs market could prompt rate cut – business live

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down. Bitcoin has surged to a new record high this morning, clearing the $120,000 point for the first time.The world’s largest crypto currency is now trading at $122,571, amid interest from institutional investors and the Trump White House’s pro-crypto atmosphere. It has now gained 30% so far this year (and roughly 1,200% over the last five years).Its gains have been driven by strong inflows into ETFs, including BlackRock’s Bitcoin ETF IBIT, which, after receiving $1.7bn in inflows last week, now manages $84bn in FUM (funds under management).Still, the rally is underpinned by a crypto-friendly US policy shift and growing emerging market adoption — both remain intact. Continue reading...

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