Author: Michael Crowley

Euro area bond yields pop higher

Notwithstanding a jump in Euro area government bond yields following relatively ‘hawkish’ comments on interest rates by an ECB member, the single currency is largely unchanged from yesterday morning’s levels against the dollar at $1.1650 (though it bounced around quite a bit during the course of the day’s session). Sterling is also more or less unchanged […]

Fed set to cut rates again

The dollar lost ground for a second week running, shedding around half a percent against a basket of other currencies. Friday’s as-expected inflation data in the US copper-fastened market expectations that the Fed will lower interest rates at this week’s meeting (announcement on Wednesday). A 25bps cut  – to 3.5%-3.75%  – would bring the cumulative […]

US inflation data today

The main currency pairs were confined to relatively narrow ranges yesterday. The euro traded between $1.1640 and $1.1680 against the dollar and is hovering around $1.1660 this morning. Sterling moved between $1.3325 and $1.3385 versus the US currency and is currently trading at about $1.3350. Having edged up to a high of £0.8720 during yesterday’s […]

Sterling on the front foot

Sterling was a notable outperformer yesterday, advancing against both the dollar and the euro, helped by better than expected UK economic data and some softer than forecast US data. The pound has strengthened by more than a cent against the dollar to trade at around $1.3350, its best level since the end of October, and […]

Dollar a touch softer

Having traded in a very tight range yesterday, the euro has pushed on a bit against the dollar overnight and is back close to Monday’s high of about $1.1650. Sterling is also creeping up against the US currency, trading at around $1.3250 this morning (Monday’s high was $1.3275). The pound has slipped to circa £0.88 […]

Euro, pound retreat from highs vs dollar

Taking their cue from the Japanese yen – which rose against the dollar following signals from the Bank of Japan (BoJ) that it may raise interest rates this month – the euro and sterling traded up to highs of around $1.1650 and $1.3275 respectively against the US currency yesterday. However, much like the yen, they […]

Dollar slightly softer post US jobs report

Yesterday’s employment report in the US was something of a mixed bag. The economy added more jobs than expected in September but the unemployment rate came in slightly higher than forecast. The report didn’t alter expectations for next month’s Fed meeting very much with the chances of a rate cut raised a little but still […]

Dollar on the front foot

The dollar advanced across the board yesterday as the market pared back substantially expectations for a Fed rate cut at next month’s meeting. This followed the announcement that, after today’s US jobs report (for September), the next report will not be published until after the December 10th meeting, leading the market to conclude that, in […]

Main currency pairs in tight ranges

As suspected might be case, there was limited price action in FX markets yesterday with the main currency pairs continuing to trade in very tight ranges ahead of tomorrow’s jobs report in the US. Inflation data in the UK published a short while ago were broadly in line with expectations and so have had little […]

Quiet start to the week in FX

While it was a relatively quiet start to the week in FX markets, the dollar was slightly firmer amid a renewed slide in US equities. The euro and sterling are trading at around $1.1595 and $1.3155 respectively this morning, versus last Friday’s closing levels of $1.1620 and $1.3170. EURGBP briefly dipped below the £0.88 level […]