by Christopher Nye | Nov 7, 2022
Sterling’s recovery from its historic low against the dollar in September seemed to have stalled towards the end of last week. The BoE’s gloomy economic outlook following Thursday’s rate hike was a contributing factor as it pointed to the prospect of...
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by Charles Purdy | Nov 4, 2022
The dollar is still enjoying its interest rate boost, prompted by Federal Reserve Chair Jerome Powell’s hawkish comments on interest rates. Two days after hiking rates by another 75 basis points to 4% he said it was “very premature” to be considering a pause in rapid...
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by Charles Purdy | Nov 4, 2022
The single currency has made losses against most major currencies in the past 24 hours, apart from the pound, against which it has strengthened by close to 1%. That has, indeed, been the pattern of the week, with close to a 2% loss against the US and New Zealand...
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by Charles Purdy | Nov 4, 2022
It’s been a torrid week for sterling, weakening by between 1.5% and 3.5% against its closest 10 rivals, and by even more against currencies like the high-flying Brazilian real. Nevertheless there is evidence of stability and some recovery today. Following the shocking...
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by Charles Purdy | Nov 4, 2022
It wasn’t so much the widely expected 75 basis-point rise in interest rates – the largest for 33 years – that has sunk the pound, as the Bank’s warning of a two-year recession and doubling unemployment. There was also the lowering of expectations for peak interest...
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