by Christopher Nye | May 21, 2020
The eurozone has largely been reacting to UK developments this morning, benefitting from the pound’s weakness. Additionally, in a positive sign as Europe slowly reopens, manufacturing PMI just released has seen a slight increase in France and Germany. Eurozone...
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by Christopher Nye | May 21, 2020
The pound fell against the euro this morning after UK government debt yields hit a historic low of -0.3%, with the Bank of England having an explicit objective of keeping these low to make borrowing cheaper for the government. Also putting pressure on the pound...
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by Christopher Nye | May 21, 2020
The pound is down this morning as the UK government sold bonds at negative yields for the first time in history. While this helps reduce borrowing costs, it also reduces demand for sterling, which weakened against both the euro and dollar on the news. Further putting...
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by Christopher Nye | May 20, 2020
The dollar is up but low against the pound, after optimism over a coronavirus vaccine trial by Moderna faded, with scientists saying the company has yet to produce data to support its claims of success with antibodies in humans. In more positive news, Fed Chair Powell...
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by Christopher Nye | May 20, 2020
The euro is on an uptick this morning, amid positivity over Macron and Merkel’s proposed plan for a coronavirus bailout. Although Austria, Denmark, the Netherlands and Sweden have signalled their disagreement, the plan has the big advantage of having the backing of...
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