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.

Trade data released this morning shows that China’s exports regained some momentum in June.

China’s exports rose 5.8% in June from a year earlier to $325bn, while imports rose 1.1% to grow, according to data from the General Administration of Customs.

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.

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