The pound gained 1.7% against the US dollar last week following disappointing macroeconomic data releases from the US which made it difficult for the greenback to find demand.
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Early last week sterling staged a sharp recovery against the euro, which disappeared just as sharply as inflation and other data indicated that the Bank of England’s interest rate rises had already done their job, and no more…
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The greenback was left treading water against the pound and euro yesterday, as the markets continued to ponder which central bank will be cutting interest rates first in 2024.
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There was plenty of movement for the euro yesterday, but ultimately the only serious gains, of around 0.6% were against the Canadian and Australian dollars.
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Sterling slipped slightly yesterday from its two-month high against the US dollar, while drifting to a new six-month low against the euro.
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Sterling resumed its stop-start decline against the euro yesterday, reaching its lowest point since mid-May. It’s been a much more positive story against the US dollar, where the pound hit a two month high this week. What could…
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The renminbi and yen are at their weakest against the US dollar since 2008 and 1990, respectively. The Financial Times reported yesterday, ‘There is no real sense of a global crisis from exchange rates that would cause US…
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European stocks remained mixed on Thursday as investors stopped to consider the effects of easing inflation on major eurozone economies. Frankfurt’s DAX 40 extended its gains for a fourth consecutive session yesterday, surging 0.4%, marking its highest levels…
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