The US dollar strengthened sharply yesterday following the news that US inflation has swung upwards again. However, the gains proved short-lived and USD/GBP ended up close to where it started the day.
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The euro treaded water yesterday, with nothing to excite the markets, at least on the EUR side of the equation.
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In the light of today’s GDP news, but with the UK teetering on the edge of recession, watch out for the NIESR Monthly GDP Tracker at lunchtime today, with a forecast for UK GDP for the forthcoming quarter.
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After falling in October, Gross Domestic Product (GDP) in the UK rose by 0.3% in November, better than most economists expected and powered by the services sector. The immediate effect on the pound has been negligible, but GBP/EUR…
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The US dollar continued to bounce around, losing over a third of a per cent to both the pound and the euro.
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EUR/USD climbed by over fourth tenths of a per cent and by a much thinner margin against the pound.
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GBP/EUR fell by just 0.1% yesterday but sterling climbed by a third of a per cent over the US dollar.
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The euro made modest gains – 0.4% against the US dollar and around half that against the pound – in yesterday's session. GBP/USD rose by around a third of a per cent although there was an absence of…
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