The euro has started to stabilise again after its recent losses borne out of worries over political instability and interest rate cuts. We will shortly get a final reading for French GDP, but more influential is likely to…
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Despite the euro’s improved position, the pound continues to stay at a level over 1.5% stronger than last year, while strengthening against the US dollar. There is little on the horizon to disrupt GBP from a data point…
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Sterling bounced back against the US dollar and to a lesser extent against most other currencies yesterday, while weakening slightly against a resurgent euro. GBP/EUR continued to soften, following a clear signal that the Bank of England will…
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It’s been a more muted fortnight for sterling as it has drifted from its near two-year high of mid-June against the euro. However, it remains well above the average position of the past year and, indeed, the past…
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Sterling had a tricky end to last week after the latest interest rate announcement from the Bank of England came with the caveat that the decision was finely balanced.
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HCOB German Manufacturing PMI fell to 43.4 in June, down from last month’s figure and well below forecasts of 46.4. New orders fell sharply and export sales declined at the fastest rate since March.
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The US dollar used the S&P’s flash manufacturing PMI data for June as a launchpad for further gains on Friday. Services and manufacturing indexes were both on the rise, which helped contain any further talk of Federal Reserve…
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Markets are still digesting last week’s BoE decision. While the choice to leave rates on hold was expected it has put some strain on sterling. What was perhaps more surprising was the language used to explain it.
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