Currency Note


USD: Trump calls for further rate cuts

The dollar has had a relatively strong start against the pound today, benefitting from the latter’s weakness over Brexit uncertainty. Donald Trump called yesterday for the Federal Reserve base rate to ‘be reduced by at least 100 basis points, with perhaps some...

EUR: Bundesbank warns of further economic contraction

Germany’s Bundesbank’s monthly meeting didn’t make for particularly positive reading yesterday, stating that the EU’s largest economy will likely continue to contract. It pointed to a ‘downturn in industry’ largely due to falling demand from abroad and the return to...

British households more concerned about economy

Concerns about the economy are making households more and more cautious, according to the latest IHS Markit figures, showing a three-month low in household confidence. The pound is choppy against the euro this morning, as Brexit uncertainty continues. Boris Johnson...

USD: Trump plays down worries of economic slowdown

Donald Trump has played down worries of a global economic slowdown, stating that America is ‘doing tremendously well…consumers are rich, tax cuts loaded up with money…’ His economic advisor Peter Navarro followed the same line, stating that ‘we’re going to have a...

EUR: Worries over Italian political crisis continue

It’s been a choppy start to the day for the euro, with concerns over the Italian political crisis weighing down on the single currency. Matteo Salvini has called for a vote of no confidence in the Prime Minister, also his coalition partner, but the date was postponed...

GBP: Johnson to meet Merkel and Macron later this week

The pound is down against the euro and dollar this morning, after a choppy week last week. This week will be a quiet one for economic releases, although we will see industrial trends on Tuesdays, which are expected to have picked up, albeit still remaining in the...

Will markets take fright at Yellowhammer?

The pound starts the week two cents higher against the euro than last Monday and a cent higher against the US dollar. In the context of the past four months that’s the classic example of a ‘dead cat bounce’. Good news all the same if you’re...

USD: Dollar benefits from strong retail data

The dollar is weak against the pound but strong against the euro today. A surge in US retail sales has allowed the greenback to hold onto its gains and eased concerns about a slowing economy. The report showed that sales rose by 0.7% last month, after a 0.3% growth in...

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