by Charles Purdy | Jun 21, 2024
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 dollar was boosted almost across the board by the...
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by Jonathan Cook | Jun 20, 2024
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 on a fairly consistent basis. EUR/USD: the...
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by Jonathan Cook | Jun 20, 2024
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 globe. GBP/EUR:...
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by Jonathan Cook | Jun 20, 2024
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. GBP/USD: the past year 1 Min 5 Min 1 Hr 1 Day 1 Wk 1 MthFrom To...
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by Jonathan Cook | Jun 20, 2024
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. The pound climbed by around...
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