by Charles Purdy | Jul 12, 2023
Sterling hit the high notes yesterday, reaching its strongest point against the euro since August last year. Indeed, it is stronger than a month ago, five years ago and even 1.5% stronger than 10 years ago, long before the Brexit vote. The cause for sterling’s boost...
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by Julian Benson | Jul 12, 2023
Key US stocks the S&P 500 and the Nasdaq both added 0.3% yesterday as investors welcomed comments from central bank officials suggesting that the end of rising interest rates may be in sight. For more on currencies and currency risk management strategies, please...
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by Julian Benson | Jul 12, 2023
The euro strengthened to a two-month high against the US dollar yesterday despite data showing a slowdown in economic growth. In Germany, the annual inflation rate rose to 6.4% in June, from May’s 14-month low of 6.1%, still well above the European Central Bank’s...
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by Julian Benson | Jul 12, 2023
A mixed labour report revealed the unemployment rate increased to 4% while there was an improvement in wage growth, thus putting pressure on the Bank of England to raise interest rates further. Average weekly earnings rose by 6.9% year-on-year, surpassing forecasts of...
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by Julian Benson | Jul 12, 2023
After soaring to a 15-month high against the US dollar yesterday, the pound later rose to an 11-month high against the euro, coming out on top of the three major currencies. The pound ended the working day 0.51% up from Monday, while the GBP/USD rate is currently...
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