On Monday the euro hit its lowest level against the US dollar since early January, losing approximately 0.19%. This follows the dollar’s recent boost on the back of last week’s strong employment data.
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Markets saw the latest in S&P Global/CIPS UK Construction PMI yesterday. The purchasing managers index fell 0.4 points from last month to 48.4 in January.
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The aftermath of last week’s BoE, ECB and Federal Reserve interest rate decisions continues to weigh heavy on exchange rates. Sterling was on the back foot on Monday and the gloomy mood added pressure to the already risk-sensitive…
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The dollar begins the week stronger than a handful of its rivals including sterling, the euro and the canadian dollar following surprising jobs data last week.
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The euro is still weak against the US dollar after tumbling on Thursday for the first time since last April. This follows strong US jobs data last week which turned investors to the US dollar.
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At 9:40 this morning, member of the BoE's Monetary Policy Committee, Catherine L. Mann will speak following the latest inflation rate.
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Sterling begins the week weaker than both the euro and US dollar compared to this time 7 days ago. Overall, GBP/EUR is at a two-year low for the first time since its long vaccine-related boost in 2021.
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The worries that many analysts had about sterling in 2023 appear to be manifesting themselves. The Prime Minister’s 100th day in office coincided with a sharp sell off in sterling, although that was more to do with central banks’…
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