Following a better-than-expected inflation reading, the Bank of England won’t be required to hike interest rates as aggressively as previously expected on August 3rd.
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This morning the annual inflation rate in the UK dropped to 7.9% in June from 8.3% in May. This is the lowest level since March 2022 and slightly below expectations of 8.2%. The pound promptly lost 0.5% against…
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A mixed day for the US dollar yesterday saw no great movement against the pound and euro, but strengthened by close to 0.5% against the Chinese yuan.
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The euro had a positive day, despite a dearth of market-moving data.
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Sterling has begun to drift against most major rivals. Although holding on to some of the gains of last week, at least against USD, it has failed to build on the strength given it by the UK’s worse…
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Sterling drifted yesterday against the US dollar and euro, but the movements were small and the start of the week has had a feeling of waiting for bigger news. That news will come tomorrow with the inflation data,…
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On Friday, US bank JP Morgan reported a 67% increase in net income since this time last year but spoke out about having to set aside funds to cover potential losses from customers in debt.
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After a rocky start to the week, the euro gained over 2.5% against the US dollar last week amid rumours of a sour US market and a lack of EU data. On Friday, the rate rose to an…
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