by Christopher Nye | Aug 7, 2023
While the first week of August has certainly not been positive for sterling, with a 0.75% fall compared to last Monday against the euro, as swings go, that could be worse. GBP/EUR remains a couple of per cent up on the five-year average, and the drop has been less...
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by Charles Purdy | Aug 4, 2023
A quiet day for the US dollar ended with no overall movement apart from against the yen, where the dollar weakened by around 0.6%. Yesterday’s data included ISM Services PMI, which declined from last month, to 52.7. On Tuesday JOLTs Job Openings indicated a tightening...
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by Charles Purdy | Aug 4, 2023
The single currency ended the day edging higher against the pound and US dollar. Taking the past month as a whole, EUR is around half a per cent stronger against GBP and USD, but having undergone a 3-4% swing over the month. No great surprises from the purchasing...
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by Christopher Nye | Aug 4, 2023
Sterling dropped sharply before and immediately after the interest rate decision at 12 noon yesterday. However, while the 25 basis point rise may have been seen as relatively dovish, the BoE’s subsequent comments about keeping rates high were not, and GBP recovered to...
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by Christopher Nye | Aug 4, 2023
After initially falling, sterling recovered almost across the board yesterday after the Bank of England (BoE) opted to raise interest rates by the lower of the likely degrees, 25 basis points rather than 50. However, this still raised interest rates to 5.25%, their...
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