by Jonathan Cook | Apr 9, 2026
Also supporting the US dollar was an indication from the Federal Reserve that it was increasingly open to interest rate hikes. In keeping with many other central banks, the Fed seems to be closely monitoring the impact of the war in the Middle East, standing ready to...
by Jonathan Cook | Apr 9, 2026
Germany’s trade surplus narrowed slightly to €19.8bn in February. The figures surprised to the upside after January’s slow trade data, with exports and imports surging by 3.6% and 4.5% respectively month-on-month. GBP/EUR: the past year 1 Min 5 Min 1 Hr 1 Day 1...
by Jonathan Cook | Apr 9, 2026
Wednesday reversed quite a long streak of poor returns for sterling. The pound strengthened by almost two cents against the US dollar as part of a broad dollar weakness. At the same time, government borrowing costs fell as traders bet the economic pain from the Middle...
by Jonathan Cook | Apr 9, 2026
Currency markets begin Thursday on the back foot after cracks appeared in the two-week Middle East ceasefire less than 24 hours after it was announced. The US dollar recovered some of Wednesday’s losses, gaining close to a cent over the pound and euro. Sterling...
by Jonathan Cook | Apr 8, 2026
The world breathed a sigh of relief this morning as Donald Trump’s extraordinary threat to wipe out Iranian civilisation proved unnecessary. Instead, the United States and Iran agreed a two-week ceasefire that would reopen the Strait of Hormuz and (in theory, at...
by Jonathan Cook | Apr 8, 2026
The US dollar has benefited from safe haven flows during the oil crisis, but is getting harder by the day for investors to bank on America. Donald Trump’s threat to enact civilisational wipeout on Iran was another reminder of this new, unpredictable era of American...
by Jonathan Cook | Apr 8, 2026
A member of the European Central Bank’s governing council warned that the likelihood of an adverse outcome from the Middle East crisis may have increased. Dimitar Radev said the cost of inaction would increase once the effects fed through into economic output. Tuesday...
by Jonathan Cook | Apr 8, 2026
S&P Global’s UK services study for March found activity expanded at the slowest rate in eleven months. Rising fuel costs meanwhile sent input price inflation to its highest since April 2025, while business optimism fell to a nine-month low. GBP/USD: the past year...
by Ryan Morrison | Apr 7, 2026
The dollar is the dominant currency this morning. Friday’s much stronger-than-expected jobs data has reinforced expectations that US interest rates will stay higher for longer, and safe-haven demand from the Iran conflict is adding to dollar strength. This...
by Ryan Morrison | Apr 7, 2026
The euro is holding its ground against the pound but losing it against the dollar. The shift in tone from the European Central Bank has been notable – senior officials are now saying the discussion at April’s meeting is between raising rates or keeping them the...
