The US dollar enjoyed a positive day yesterday, beating all of its major rivals and putting sterling securely back in its box this morning after the brief no-confidence-vote recovery.
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Aside from yesterday’s brief drop against sterling – since almost recovered – the single currency has had a strong run, marginally beating most of its major rivals over the past week apart from AUD, CAD and USD.
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Sterling strengthened by close to 1% against USD and slightly less against EUR when news of the confidence vote came in yesterday morning. However, that strength dissipated over the course of the day, until the narrow Johnson victory…
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News of a no-confidence vote on Boris Johnson’s premiership boosted the pound yesterday morning. However, that has gone into reverse this morning as a potentially weakened prime minister may now limp on for over two more years. The…
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The markets will focus on US inflation data, which is due to be released on Friday. Predictions state that it will come in at 5.9% in May, a fall from 6.2% in April.
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The European Central Bank’s monetary policy meeting will take place on Thursday. Officials are set to end their bond buying programme and pave the way for interest rate hikes at subsequent meetings.
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PMI figures, which indicate how the services and manufacturing industries performed in May, will be released for the UK tomorrow. It is expected to show that growth in both sectors slowed last month.
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Sterling is weaker against both the euro and the dollar this morning following the Jubilee Bank Holiday weekend. This comes ahead of a fairly light week for UK economic data. News this morning reveals that a vote of…
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