The eurozone has largely been reacting to UK developments this morning, benefitting from the pound’s weakness. Additionally, in a positive sign as Europe slowly reopens, manufacturing PMI just released has seen a slight increase in France and Germany.
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The pound fell against the euro this morning after UK government debt yields hit a historic low of -0.3%, with the Bank of England having an explicit objective of keeping these low to make borrowing cheaper for the…
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The pound is down this morning as the UK government sold bonds at negative yields for the first time in history. While this helps reduce borrowing costs, it also reduces demand for sterling, which weakened against both the…
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The dollar is up but low against the pound, after optimism over a coronavirus vaccine trial by Moderna faded, with scientists saying the company has yet to produce data to support its claims of success with antibodies in…
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The euro is on an uptick this morning, amid positivity over Macron and Merkel’s proposed plan for a coronavirus bailout. Although Austria, Denmark, the Netherlands and Sweden have signalled their disagreement, the plan has the big advantage of…
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The pound has seen a slight dip against the euro this morning, after inflation dropped to 0.8%, far below the Bank of England’s target of 2%. The retail price index has also dropped to 0% month on month.…
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The pound has had a slight tick downwards this morning after inflation fell to 0.8%, and the retail price index reached 0 month-on-month. In the eurozone, positivity over Macron and Merkel’s proposed economic rescue package has helped the…
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Sterling recovered half a cent or so against the euro over the last two days and a little more against the US dollar, but the pressures on the pound are such that even this insipid recovery looks distinctly…
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