Sterling’s strong start to June feels like a long time ago. Over the past two weeks, GBP/USD has sank by almost 1.5%, while the pound has fallen off its highs against the euro.
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The US dollar was the main beneficiary of an extremely risk-averse tone in currency markets on Wednesday. Investors flocked to the US dollar and away from the pound and euro, which was particularly noteworthy given the proximity to…
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The pound surged against the euro yesterday, and although the gains were not huge, they take GBP/EUR back to around 1% better than the start of the month and within touching distance of those two-year highs we got…
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This morning, the Australian dollar soared to a two-week high against the US dollar after better-than-expected domestic inflation data bolstered bets that the Reserve Bank of Australia could raise interest rates again.
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This morning, we heard the GfK consumer climate indicator for Germany fell to -21.8 in July from -20.9 in June, underperforming against market expectations of -18.9. This marks the first decline in consumer morale in five months.
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The economic calendar remains quiet this week for UK data, with no high-level data releases until next week’s General Election. In the meantime, the pound remains at the mercy of foreign data.
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There was little to report on the currency market yesterday due to a lack of high-level economic data. The pound rose 0.2% against the euro towards the end of the day and has continued to climb this morning.
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The dollar weakened across the board yesterday and by as much as a third of a percent (against the Aussie dollar). Coming up today is house price data. The most recent house price index showed US house prices…
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