The pound continued to rally against the US dollar on Wednesday ahead of UK factory order data and UK GDP figures. The pound also strengthened 0.2% against the euro, bringing its weekly performance back into positive territory.
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The Mexican peso gained 1.85% against the US dollar yesterday following dovish comments from the Federal Reserve. This movement was influenced by the plunge in US Treasury bond yields.
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European shares are slightly down this morning, following a rally on Tuesday fuelled by US policymakers’ dovish stance. Frankfurt’s DAX 40 dropped 0.3% and the pan-European STOXX 600 lost around 0.2%.
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Pound investors are betting on August’s GDP figures from the Office for National Statistics to boost the currency. Markets forecast a 0.1% growth following a 0.5% decline in July.
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The pound and euro rebounded against the US dollar on Tuesday, gaining 0.65% and 0.7% respectively as the market mood improved.
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Sterling has continued its recovery, gaining roughly 0.5% against the euro since the start of the month and 1% against the US dollar. The movements in currencies have been extremely hard to predict lately, influenced by bond yields,…
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The US dollar’s safe haven status appears to have been short-lived, with falls against most other major currencies.
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A mixed day for the single currency saw it fall against all but USD and CNY.
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