The pound gained up to 0.5% against most other currencies yesterday following the announcement of further above-inflation pay rises in the UK, even as unemployment hit 4.7%. It’s the end of a long period of influential data and…
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Good news for wage earners yesterday could be bad news for mortgage holders, as a strong rise in wages of 5% – far outstripping even the sharp rise in inflation announced on Wednesday – continues to put an…
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Earlier this week, President Trump claimed the process to replace Fed chair Jerome Powell had begun in earnest. Yesterday confirmed it. It emerged that Trump had asked lawmakers if he should sack Powell, causing a steep fall for…
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The euro weakened against its main rivals on Wednesday as the clock inches slowly towards 1 August. The eurozone is readying retaliatory tariffs in the event that no agreement is reached, an eventuality that is putting stress on…
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Headline inflation reaching an 18-month high in June was undoubtedly a setback for the UK economy. However, with growth stalling and the labour market buckling, there may be enough in the numbers to convince the bank it still…
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The UK’s unemployment rate increased from 4.6% to 4.7% in the three months to May, the highest level since July 2021. Average earnings (both including and excluding bonus payments) increased at a rolling three-month average of 5% – slightly below…
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What a difference a day makes. On Monday, Bank of England Governor Andrew Bailey spoke to The Times about interest rates, saying he “believe[s] the path is downward”. The only things that could get in its way would…
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The dollar was up significantly on the pound and euro on Tuesday, climbing 0.25% on the former and 0.5% on the latter. The backdrop for the rise looks to be the news that US inflation jumped 0.3% in…
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