The US dollar reversed its losses on Tuesday afternoon after comments from Federal Reserve chair Jerome Powell. The pound and the euro both fell by around half a cent post lunch, having risen slightly in the morning.
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Sterling made marginal losses yesterday against key currencies, the euro and US dollar, falling by 0.16% on Tuesday afternoon.
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The pound strengthened to a four-week high against the US dollar yesterday amid expectations the Federal Reserve could cut borrowing costs in September. The pound added around 0.2% yesterday, marking its eighth consecutive day of gains against the…
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French stocks suffered at political expense yesterday with the CAC 40 trading slightly down around 7,640. Investors continue to digest the shock result of a hung parliament as focus returns to who will govern France following a lack…
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After falling to multi-week lows against sterling, the US dollar looks to Federal Reserve chair, Jerome Powell’s congressional testimony, due this afternoon, for support and guidance.
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This morning, we heard that British retail sales fell by 0.5% year-on-year, reversing the 0.4% rise in May and missing expectations for a 0.2% gain. The British Retail Consortium suggested the cooler weather dulled consumer spending.
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Last week, the UK saw a major political shift with the appointment of our new prime minister. This change has already begun to impact the markets, with the pound experiencing notable fluctuations.
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US industry and labour data put the US dollar on the back foot to end last week. There’s still a bit of uncertainty as to what the numbers are telling us, but markets broadly interpreted them as a…
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