The dollar enjoyed another stellar day yesterday, strengthening against all but CHF as investors prepared for an interest rate decision tomorrow that is likely to be aggressively anti-inflation, following Friday’s higher-than-expected inflation reading.
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The euro strengthened against most major currencies yesterday while losing slightly to USD and the Swiss franc (CHF). Against the pound it is now very close to its strongest of the past year or so.
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Sterling lost around 1% against the US dollar and 0.3% against the euro yesterday. After yesterday’s GDP data – bad, but too bad – this morning there has been unemployment and earnings data. The results were mixed, with both…
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Sterling lost around half a cent against the euro over the course of yesterday and remains close to its lowest point since last December. Although GDP fell by 0.3% in April – a considerably bigger fall than expected…
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The dollar has strengthened against a basket of currencies following the release of US inflation data last week.
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German inflation figures will be released tomorrow, along with economic sentiment data for Germany and the eurozone. On Friday, inflation figures for the whole of the eurozone will be released.
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GDP data shows that the British economy shrank 0.3% month-on-month in April, following a 0.1% contraction in March and missing market expectations of a 0.1% expansion.
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The pound is weaker against the dollar this morning following high US inflation figures last week and poor economic data released for the UK this morning. UK GDP data shows that the economy shrank by 0.3% month-on-month in…
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