Labour is on course to lose more than two-thirds of its local council seats after the early results of yesterday’s elections pointed to a breakthrough for Reform UK at the expense of traditional political powers. Sir Keir Starmer’s…
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Oil prices eased again as hopes of a US-Iran deal took some heat out of the market. That has calmed some of the defensive mood that shaped the start of the week, leaving the dollar softer without removing…
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The pound remained at or close to its best for ten months against the euro yesterday and close to its two-month high against the US dollar. The backdrop was risky however, with UK borrowing costs hitting their worst…
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While the UK took a day off for the May Day Bank Holiday yesterday some of the shine came off sterling’s stellar performance from Friday, though both GBP/EUR and GBP/USD both remain close to multi-week highs. No particular…
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Sterling has eased as the week begins, slipping back against both the euro and the US dollar. The immediate driver is the global mood following higher oil prices which leave the pound exposed. As well as the local…
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The euro has recovered composure after dipping to three-week lows in late April, and it is broadly stable against the pound while edging higher against the dollar. The ECB’s decision to hold rates last week was unanimous, but…
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The dollar has found support as geopolitics and oil dominate the conversation, strengthening across the board yesterday. Today’s US labour-market update is the next near-term checkpoint, with the bigger jobs report (Non-Farm Payrolls) later in the week. In…
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Geopolitics was at the forefront of the dollar’s decline yesterday, as it fell by nothing less than 0.5% against most currencies and a stonking 2.6% against the yen. Data coming out yesterday – and there was a lot…
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