The US dollar ended last week on a softer note, failing to pick up much momentum despite an end to the government shutdown. Risk appetite remains low ahead next month’s coin-flip decision for the Federal Reserve and amid…
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Inflation was broadly stable in the eurozone last month, with the one notable exception being the German services sector. Prices increased last month due to an 18% bump in air travel – the biggest October increase on record,…
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Sterling paid the price for uncertainty at the heart of the British government last week. First it was political manoeuvring, but then it was from weak growth numbers and the tax U-turn. All told, the pound weakened by…
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Last Friday began with bombshell reports that Chancellor Rachel Reeves was set to ditch her well-publicised plans to raise income tax at the autumn Budget (26 November). The latest twist was made possible by indications that the updated…
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The US dollar could only muster any growth against the Aussie dollar yesterday, slipping around 0.5% against most pairs. We’ll be getting a mass of data tomorrow as the shutdown ends, including retail sales.
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The euro benefitted from the reopening of America’s Federal government, with a 0.4% gain on USD yesterday. We are about to get final results for inflation, as well as a second estimate for GDP in the eurozone –…
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The bad news continues to pile on for sterling, with GBP/EUR down to another fresh low since spring 2023. There was at least a recovery against some other currencies, notably the US and Australian dollars. The data ramps…
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It’s been hard to keep up with the twists and turns of sterling over the past 24 hours. Yesterday was a game of two halves as the markets changed their mind around midday, and after early falls the…
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