The long-awaited inflation data has left the currency markets in a bit of a quandary. The headline rate has fallen from 7.9% in June to 6.8% in July. Good news! However, economists also look at the ‘core’ inflation…
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It was a positive day all round for the dollar, strengthening by 0.5% against the euro and the yen. Against the pound there were strong gains at midday which dissipated in the afternoon session.
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The euro weakened across the board yesterday, although by less than 0.5% against major rivals.
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Sterling strengthened against all but the US dollar yesterday, most notably against the euro.
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The pound staged a minor recovery yesterday afternoon against the euro, gaining around a third of a cent. Against the US dollar, sterling recovered from a midday dip to end the day level. There was no data of…
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The US dollar starts this week up against all major rival currencies, with the greatest weekly gains being 0.3% against the Australian dollar and New Zealand dollar.
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Germany’s wholesale prices dropped 2.8% from a year earlier in July. This marks the fourth consecutive month of decline, after a 2.9% fall in June. The driving force for this decline came from petroleum products which fell 20.8%.
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The UK unemployment rate for June is expected to remain unchanged from May’s 4.0%, but should it rise, the pound could soften.
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