It is a quiet day for dollar-watchers however things pick back up tomorrow with two speeches from the Federal Reserve, the University of Michigan consumer sentiment and The US government monthly budget statement.
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Sterling has made weekly gains against the euro but remains weaker against the single currency on monthly comparison as investors await Friday’s GDP data.
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Sterling continues to lose monthly gains against the euro and the US dollar as investors look ahead to tomorrow’s economic data releases.
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Today is another quiet day for UK data releases. Investors prepare to digest a slew of key economic data over the course of tomorrow, including the UK’s latest GDP and industrial production figures.
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Yesterday the IBD/TIPP Economic Optimism Index increased to a 10-month high of 45.1 in February 2023, up from 42.3 in January.
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The euro continued to fall against the dollar yesterday as hawkish remarks from the Federal Reserve boosted the dollar.
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In a speech on Monday, Catherine Mann, monetary policy committee member at the Bank of England said that the central bank would raise interest rates again in March.
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Sterling has staged a modest recovery in the past couple of days against the euro, but has only made up half of the losses from last week. Against the US dollar there has been some movement but not…
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