by Charles Purdy | Oct 20, 2022
Sterling weakened yesterday in a shambolic day for UK politics. Against the US dollar the decline was close to 1%, but there was little movement against the euro. The Home Secretary Suella Braverman resigned following a breach of the ministerial code. There were...
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by Charles Purdy | Oct 20, 2022
Despite all the political turbulence, it was nevertheless matters outside of the UK that defined movement in the pound. Sterling fell against the US dollar by around 1%, but so did most other currencies. Against the euro, trading was in a fairly narrow band and there...
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by Charles Purdy | Oct 20, 2022
The euro declined against most major currencies yesterday, apart from the British pound, against which there were plenty of ups and downs but nothing that stuck. Yesterday, construction output for the eurozone was well ahead of forecasts at 2.3%. On the other hand...
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by Charles Purdy | Oct 20, 2022
The US dollar strengthened against all major currencies yesterday, with the largest increases, of close to 1%, against the euro and pound. Several members of the US Federal Reserve FOMC will be speaking this week and yesterday James Bullard said that if inflation...
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by Charles Purdy | Oct 19, 2022
Sterling has drooped a little further following the inflation data this morning, showing a return to 10.1% year on year and 0.5% in September. This was broadly as expected. In any case, economic data that used to be all-important is only one of many factors buffeting...
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