by Christopher Nye | Jan 26, 2026
The euro gained more than 3% against the dollar last week, surging on Friday evening as the Trump/Greenland mood turned more doveish. The latest eurozone PMI snapshot continued to signal expansion, with services doing most of the heavy lifting while manufacturing only...
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by Christopher Nye | Jan 26, 2026
The dollar declined in a series of steps over last week, overall ending up 2.3% down on the euro, 2% down on sterling and considerably worse against the commodity backed currencies such as AUD and NOK. This week is all about the US Federal Reserve’s decision on...
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by Christopher Nye | Jan 23, 2026
After an initial wobble caused by the cooling of geopolitical tensions, the US dollar is being supported by yet another solid labour market report, which reinforces the view that the Federal Reserve can afford to keep rates restrictive for longer. That will not please...
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by Christopher Nye | Jan 23, 2026
The euro was in two minds yesterday, losing to the pound (marginally) but gaining on USD and the yuan, possibly in reaction to the minutes of the ECB’s latest meeting. This was broadly confident of recent economic performance in the eurozone while highlighting some...
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by Christopher Nye | Jan 23, 2026
Sterling outperformed its major peers yesterday, driven by a sharp repricing of Bank of England interest rate expectations. Following the rise in headline inflation to 3.4%, and bolstered by today’s news of retail sales growth, markets have all but ruled out a rate...
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