by Charles Purdy | May 12, 2023
The dollar had a strong day, gaining around 1% against the pound, overall, and Australia’s dollar and Canada’s ‘loonie’. There was a smaller gain against the euro. The prompt for the dollar’s strength has been weaker economic data from the US, plus steadying...
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by Charles Purdy | May 12, 2023
A mixed day for the single currency saw it weakening sharply against USD, again, continuing to lose the strong gains of the past month. While the drop was less pronounced than the calamitous 2% drop of Monday, there is no sign of it recovering those losses just yet....
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by Charles Purdy | May 12, 2023
Sterling has reached the end of the week slightly up on the start of the week, having attained its strongest position against the euro for four months early yesterday. While those gains were pared back in the afternoon session, GBP/EUR has settled at almost 1% up on...
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by Charles Purdy | May 12, 2023
Following a positive morning the pound sank yesterday afternoon, despite the Bank of England both raising interest rates for the twelfth time in a row, and upgrading its growth forecast by the largest amount in the Monetary Policy Committee’s 26-year history. Sterling...
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by Charles Purdy | May 11, 2023
Month-on-month inflation rose 0.4% in April, which was much higher than March’s 0.1% but was in line with the consensus. The same was true for the yearly core inflation rate (which excludes food and energy) yesterday. The rate edged down from 5.6 to 5.5 as expected....
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