The dollar shot upwards yesterday, ending the day half a percent up on the pound and yen and not far off that against the euro. The reason for the dollar’s strength is the US Federal Reserve’s continued hawkish…
Read more
›
It was another poor day for the single currency, which has fallen against the US dollar by close to 2% in the past fortnight. We will shortly get a reading for PMI, and Monday kicks off with the…
Read more
›
The rise in retail sales has left the pound only around 0.1% down over the past 24 hours, and GBP remains roughly two to three percent up across the year against major rivals such as EUR, NOK, CAD…
Read more
›
Sterling weakened by up to 0.5% against other major currencies yesterday after the Bank of England (BoE) kept interest rates on hold at 5.25% but signalled that they would be coming down soon. In the meantime, the US…
Read more
›
ING said yesterday that US markets were in a ‘tug of war’ between economic data and Federal Reserve comments. That seems like a fair interpretation, and for now the US dollar continues to lurch between strength and weakness…
Read more
›
The European Commission has instructed seven eurozone nations to reduce their budget deficits. France, Italy, Belgium, Hungary, Malta, Poland and Slovakia were all on the naughty step, as government debt remains a common topic of discussion around the…
Read more
›
It wasn’t just consumer price inflation that dipped in May. Retail price inflation fell to 3% year-on-year last month, marking its lowest point since April 2021.
Read more
›
Sterling was on the move yesterday, clawing back some of Tuesday’s losses ahead of the Bank of England’s interest rate decision today. That movement was fuelled by high services inflation, which reduced the likelihood of imminent rate cuts.
Read more
›
