The pound has slipped back a fraction from the heights it gained early yesterday but remains 9.5% stronger than last year against the US dollar and 4% up on the euro. The governor of the Bank of England…
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With risk appetite relatively resilient, the US dollar found itself suffering outflows as investors seek out other currencies. As we’ve seen in the past, it doesn’t take much for markets to get spooked and swing back towards this…
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The German Ifo Business Climate study fell slightly from 86.6 in August to 85.4 this month. That is now the lowest read since January and another ominous sign of economic trouble for the euro.
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Bank governor Andrew Bailey yesterday said he was “encouraged” by recent progress over inflation. After holding interest rates at its last meeting, Bailey may well be beginning the long process of preparing markets for another cut this year.
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The US dollar continued to fall against the euro and the pound on Tuesday, as weak consumer data and an aggressive Federal Reserve siphoned demand to other currencies.
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US dollar markets continue to embrace the new reality of significantly lower rates from the Fed. A number of policymakers made speeches yesterday, with several highlighting progress towards “immaculate disinflation”.
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Despite struggling against the pound, EUR/USD has held up well of late. A fall yesterday afternoon may be foreshadowing, as the euro continues to labour with weak economic data.
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The pound’s march continued on Monday, with GBP/EUR and GBP/USD each reaching their highest in around 30 months. The risk for sterling is that the structure that supports it, which currently includes a disparity in interest rate approach…
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