by Christopher Nye | Aug 21, 2020
The pound was boosted by increased retail sales, more than gaining what it lost against the euro yesterday and gaining its losses against the dollar. Sterling has risen 7% against the dollar over the past seven months, but this has been mainly due to dollar strength....
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by Christopher Nye | Aug 21, 2020
Sterling gained 1% or so on the euro overnight, continuing this morning as retail sales grew by 3.6% between June and July. Indeed retail sales were higher than in February, before the pandemic began. This makes is less likely that interest rates will be cut further...
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by Christopher Nye | Aug 20, 2020
The dollar rebounded slightly against the pound and euro yesterday afternoon ahead of the release of the FOMC minutes. It then strengthened further when the minutes were released, due to its safe haven status. The minutes suggested that the Federal Reserve will keep...
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by Christopher Nye | Aug 20, 2020
Inflation rate figures for the Eurozone were also released yesterday. Core inflation rate went up to 1.2% in July of 2020 from 0.8% in June. It is the highest reading in five months. Meanwhile, on a monthly basis, consumer prices fell 0.4%, the biggest drop since...
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by Christopher Nye | Aug 20, 2020
The pound was still at strong levels against the dollar and euro yesterday, helped by a weaker dollar and inflation rate figures that came out in the morning. It is slightly weaker today, however. UK annual consumer price inflation picked up to 1% in July from 0.6% in...
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