The dollar is steady this morning against both the pound and the dollar. This follows President Biden’s reappointment of Federal Reserve Chair Jerome Powell, which has solidified expectations of an interest rate hike next year.
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PMI figures for the eurozone came in above expectations across the board, showing that the services and manufacturing industries performed better than predicted.
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Bank of England official Silvana Tenreyro will speak today, and the markets will be listening for any comments about interest rates or inflation.
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Sterling weakened slightly against the euro yesterday, slipping from the highs seen at the beginning of this week. However, it has gained some ground this morning following better-than-expected PMI data yesterday, which showed that British businesses have experienced…
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The US dollar was at its strongest against the pound since December 2020 and against the euro since July 2020 yesterday, on the promise of a more hawkish approach to interest rates from the Federal Reserve than might…
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Yesterday was a relatively quiet day for EUR/GBP, but the single currency swung by around 0.5% against the US dollar, ultimately winding up a little weaker than the start of the day and at a 20-month low.
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In common with the euro, sterling lost around 0.5% against the US dollar yesterday following the reappointment of Jerome Powell.
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The pound stabilised against the euro yesterday, although it has already began to slip this morning as positive European PMI data has reached the markets, dropping below €1.19. The US dollar has strengthened against both GBP and EUR…
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