Against the euro and US dollar, sterling starts the week close to its highest since August. A steady climb in the value of a currency like that of sterling since the mini-Budget – now around 13% stronger against…
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The greenback dropped markedly yesterday while the financial markets were closed for Thanksgiving. The most obvious cause has been the relatively dovish messages coming out of the FOMC – suggesting that the pace of interest rate hikes will…
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The euro fell against most major currencies yesterday, although most of the drops were marginal. Yesterday the Ifo Business Climate reading for Germany was better than expected at 86.3.
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Sterling shrugged off Wednesday’s PMI data, which showed overall business pessimism but no worse than expected, to rise strongly against most major currencies through the middle section of the week.
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A stellar week for sterling has seen the pound strengthen by more than 2% against the US and Canadian dollars and close to 2% against the euro.
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America's jobless claims rose by 17,000 to 240,000 on the week ending November 19th. This was highest number of claims since August.
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The big data release markets will be anticipating today is Germany's Ifo business climate for November.
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Deputy governor for markets, Dave Ramsden will give the first of several BoE speeches today. Ramsden will speak at 10:45am.
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