Sterling briefly reached its highest level of the young year against the US dollar in yesterday’s session before its rally lost some steam. The euro, meanwhile, had a far more positive day, recording small but spirit-boosting gains against…
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This morning, we heard German retail sales fell more than expected in November, dropping by 2.5%, compared with forecasts of a 0.1% decline.
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Investors woke up to a dampened appeal for the pound yesterday as business pessimism and a bleak economic outlook weigh on the currency.
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The French inflation rate rose to 3.7% in December 2023 from 3.5%. Later today, the German inflation rate is expected to increase from 3.2% to 3.7% for the same period.
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The USD Index pulled back from its highest level in almost three weeks following the release of the ISM manufacturing PMI, which improved from 46.7 in November 2023 to 47.4 in December.
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The pound was on top form yesterday as it added over half a per cent against the euro and made marginal gains against the US dollar but not quite enough to cancel out Tuesday’s losses.
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Just a few days into the New Year seems to have turned things around for the US dollar, which gained almost a cent against the pound and euro in Tuesday's session, reversing last week's losses and adding 1%…
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Sterling fell by three quarters of a per cent against the US dollar yesterday while treading water against the euro.
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