by Charles Purdy | Nov 28, 2022
Against the euro and US dollar, sterling starts the week close to its highest since August. A steady climb in the value of a currency like that of sterling since the mini-Budget – now around 13% stronger against USD and 5% against EUR from its lowest point – won’t...
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by Charles Purdy | Nov 25, 2022
The greenback dropped markedly yesterday while the financial markets were closed for Thanksgiving. The most obvious cause has been the relatively dovish messages coming out of the FOMC – suggesting that the pace of interest rate hikes will begin to slow. While the...
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by Charles Purdy | Nov 25, 2022
The euro fell against most major currencies yesterday, although most of the drops were marginal. Yesterday the Ifo Business Climate reading for Germany was better than expected at 86.3. This morning markets heard that German consumer confidence rose from -41.9 to...
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by Charles Purdy | Nov 25, 2022
Sterling shrugged off Wednesday’s PMI data, which showed overall business pessimism, but no worse than expected, to rise strongly against most major currencies through the middle section of the week. The markets’ positive mood surrounds the defeat of the Scottish...
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by Charles Purdy | Nov 25, 2022
A stellar week for sterling has seen the pound strengthen by more than 2% against the US and Canadian dollars and close to 2% against the euro. The drivers are a combination of the PMI data on Wednesday, which wasn’t as bad as markets expected, and hopes of a...
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