by Ryan Morrison | Apr 24, 2026
The pound’s tone has shifted quietly rather than dramatically this week, edging up against the euro to its strongest level in a month. The record monthly jump in UK business input prices in this week’s PMI has all but killed off lingering hopes of a Bank...
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by Ryan Morrison | Apr 24, 2026
The single currency was the clear loser in this week’s data, pulling back against both sterling and the dollar after the latest flash PMI dropped into contraction territory. With Germany now forecasting just 0.5% growth this year, and services activity falling...
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by Ryan Morrison | Apr 24, 2026
What is striking this week is that the dollar is not rallying the way it usually would during a global risk event. Oil above $105, a blockaded strait and record-low consumer sentiment have so far produced only a modest lift in the past 24 hours. The final University...
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by Ryan Morrison | Apr 23, 2026
Iran seized two container ships in the Strait of Hormuz yesterday, just hours after Donald Trump announced his extension of the two-week ceasefire, making the truce look increasingly theoretical. The White House insists the attacks don’t count as a breach...
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by Ryan Morrison | Apr 23, 2026
The pound enters today’s data in reasonable shape. Wednesday’s inflation figures kept the case for a Bank of England rate hike alive and gilt yields have been moving higher in response. A firm PMI print would reinforce that story. The risk is political:...
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