Author: Michael Crowley

Dollar firmer post Fed; BoE up next

There’s been a muted enough market reaction to the Fed’s latest policy decision. It left interest rates unchanged, as widely expected, and indicated it is likely to remain on hold for a while longer yet as it assesses the impact of tariffs on the US economy. In FX, the dollar has gained some ground against […]

Dollar a little softer ahead of Fed

The dollar weakened a little yesterday alongside a fall in US stocks, which ended lower for a second session running. Ahead of the Fed’s latest interest rate announcement later today, the US currency is trading at around $1.1360 and $1.3350 versus the euro and sterling respectively. EURGBP remains very tightly range-bound, hovering just above £0.85. […]

Fed and BoE meetings this week

Stronger than expected US jobs data saw the euro and sterling lose some ground against the dollar on Friday, closing out the week trading a touch below $1.13 and sub-$1.33 respectively (both marginally lower from the previous Friday). They are both firmer this morning though, trading at around $1.134o and $1.3320, while EURGBP remains confined […]

Payrolls day in the US

The euro and sterling are trading in relatively narrow ranges against the dollar. They are both a touch firmer than this time yesterday morning at around $1.1325 and $1.3310 respectively, though down a little from their best levels yesterday (close to $1.1350 and $1.3350). EURGBP is also largely unchanged, as it continues to trade in […]

Dollar on the front foot

Despite GDP data showing the US economy contracted slightly in the first quarter of the year, the dollar is on the front foot this morning following a late rally in US stocks, helped by talk that the US might soon announce trade “deals” with some of its partners, and better than expected earnings results from […]

Main currency pairs tread water

US equity markets advanced again and US bond yields continued to grind lower, but the dollar was little changed on the day. The euro and sterling are trading at about $1.1380 and $1.3390 respectively this morning, while EURGBP is hovering in and around £0.85, all more or less where they were yesterday morning. There’s plenty […]

Dollar on the back foot again

The dollar lost ground yesterday as US stocks gave up early gains to end broadly flat and US bond yields reversed an early increase to finish lower on the day. The euro strengthened to an intra-day high of $1.1425 but has since retreated to just under $1.14. The pound outperformed, setting a new 2025 to […]

Dollar ends off its lows

Having sold off on Monday, US equities, bonds and the dollar regained ground over the remainder of the week. The S&P 500 added 0.7% on Friday to take its gains on the week to almost 5%, while US 10-year yields fell by 10bps (to 4.25%) bringing the decline from Monday’s highs to 20bps. The dollar […]

Euro a touch softer

Equity markets advanced again and bond yields fell yesterday, helped by rate cut talk from Fed and ECB members, though there wasn’t a whole lot of movement in the main currency pairs. The euro is a touch softer against both the dollar and sterling this morning, at around $1.1350 and £0.8530 respectively, while sterling is […]

Stocks advance again

It was another generally positive session in markets yesterday. Stocks advanced again albeit the main US indices finished off their very best levels of the day. The dollar also recovered some more ground although its gains were fairly modest. The euro is trading at about $1.1375 against the US currency this morning, while the pound […]