After strengthening on Monday off the back of rumoured hawkishness, the US dollar weakened against is sterling and euro rivals by the end of Tuesday afternoon.
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According to the Centre for European Economic Research, the ZEW indicator of economic sentiment declined for the second consecutive month yesterday hitting its lowest level this year.
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We've just seen the latest annual inflation rate for the UK fall to 10.1% in March, from 10.4% the month before.
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Since yesterday, sterling has strengthened against the majority of G10 currencies, including the euro and US dollar.
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Sterling has leapt upwards this morning following the UK inflation announcement this morning. Inflation rose by 10.1% in the year to March 2023, including 19.1% for food and non-alcoholic drink, which is an acceleration from last month. ‘Core…
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The dollar strengthened yesterday as the belief has risen that the Federal Reserve (the Fed) will not feel the need to rein in its monetary tightening despite ructions in the US banking system. The collapse of Silicon Valley…
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The single currency lost almost across the board yesterday, by up to 1% against most major currencies.
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Sterling remained steady against the euro yesterday while oscillating wildly against the US dollar, gaining and losing close to 1% during the course of the afternoon.
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