Sterling continues to veer erratically this morning, like a Downing Street employee’s progress along Whitehall after a Christmas party that definitely didn’t happen. The betting on Omicron seems to be that not only is it not a gamechanger,…
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The dollar’s Omicron-inspired run of strength appears to have run its course for now, with the euro recovering nearly 1%.
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The euro lost some ground against sterling yesterday, but remains back at the kind of levels we got used to in the early summer, some way off last month’s near-two-year highs.
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The pound managed a modest recovery against the “risk-on” currencies – those favoured in times of economic and political stress – including the US dollar and euro, as worries over the power of Omicron eased.
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Sterling recovered some ground yesterday against the US dollar, and even more against the euro, as fears over the Omicron variant faded for investors. Indeed there is some debate that over time the UK could benefit from a…
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The dollar is strong against a basket of currencies this week following revelations last week that the Federal Reserve may taper it monetary policy programme faster than initially expected.
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Released earlier today, the data shows that new orders for German manufactured goods plunged 6.9% month-on-month in October.
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There will be a series of economic data releases for the UK this week, including GDP figures on Friday. This afternoon, Bank of England official, Ben Broadbent, will speak and the markets will be listening closely to any…
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