by Charles Purdy | Feb 23, 2026
If the pound was the weather, it would be the weather in Britain since the start of the year. Distinctly soft and soggy, especially against the euro. However, this was not entirely unexpected. In our January to March Quarterly Forecast several leading financial...
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by Charles Purdy | Feb 23, 2026
Friday’s big takeaway was that politics, not policy, set the tempo again. The US Supreme Court’s decision to curb President Trump’s use of emergency powers for sweeping tariffs has left investors trying to work out what comes next. Not whether tariffs go away. Just...
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by Charles Purdy | Feb 23, 2026
Sterling ended last week with more confidence, helped by more upbeat updates on spending and the public finances. The catch is that rate expectations are still doing the heavy lifting. The Bank of England’s next decision (19 March) remains the key date in the diary,...
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by Charles Purdy | Feb 23, 2026
The euro has held its footing, but with politics at its shoulder. The chatter around ECB leadership is a reminder that, even when the data is behaving, confidence can wobble when the institution looks exposed to the political cycle. Against the dollar, it’s been more...
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by Christopher Nye | Feb 23, 2026
The US dollar is caught between two forces. On one hand, the US still offers higher returns than much of the developed world, which can keep the dollar supported. On the other, tariff policy risk has a habit of leaking into inflation expectations, growth assumptions...
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