Like the euro, sterling is struggle to combat risk flows towards the US dollar. News that the government is seeking a warmer relationship with the European Union may prove a welcome distraction for currency markets.
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Scarce news on the economic front meant strong American data and more troubling news from the Middle East dominated proceedings on Wednesday, contributing to a risk off tone and more US dollar gains.
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Sterling briefly hit yet another high against the euro yesterday lunchtime, though it didn’t last into the afternoon session. But GBP/EUR remains close to its best since spring 2022 and GBP/USD only marginally off it. So, as ever,…
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Jerome Powell, chair of the US Federal Reserve, indicated in a speech on Monday that the central bank expects to implement two additional rate cuts by the end of the year, which is currently less than market estimates.
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As eurozone headline inflation came in at 1.8% in September, down from 2.2%, core inflation (which excludes food and fuel) slipped to 2.7% from 2.8%. These results came in below target and have raised economists’ expectations for a…
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S&P Global revealed that the UK manufacturing PMI, which measures the industry’s performance, fell to 51.5 in September 2024 from 52.5 in August. The decline reflects a loss on last month’s performance, however, all readings above 50 signal…
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The US dollar was the top-performing currency yesterday, strengthening by a cent against the pound and just over half a cent against the euro.
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The US dollar fluctuated on Monday as currency markets looked to the Federal Reserve for guidance on interest rates. As has often been the case this year, interest rates expectations are having as large an impact on currency…
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