Author: Michael Crowley

Main currency pairs little changed

The dollar and other ‘safe-haven’ currencies (Japanese yen, Swiss franc) rose for a time during yesterday’s session on the back of escalating Russia-Ukraine tensions before giving up ground again. The euro is little changed against the dollar from this time yesterday morning trading at about $1.0570, though it did briefly rebound to over $1.06, while […]

Euro a touch firmer

The euro briefly rose above the $1.06 level yesterday and is trading around $1.0585 this morning, slightly firmer than yesterday morning helped by a modest paring back of expected ECB rate cuts. Sterling is also a touch firmer against the dollar, trading at about $1.2670, with EURGBP little changed hovering around the £0.8350 mark. German […]

Euro holds above $1.05

The euro and sterling shed around two and three cents against the dollar respectively last week, as the latter extended its broad-based post-election gains amid a continuing rise in US bond yields. The single currency managed to remain above the key $1.05 level on Friday and is trading at around $1.0550 at the start of […]

Some respite for the euro

The euro fell to the very bottom of the $1.05 to $1.12 range against the dollar that has prevailed for the past couple of years before rebounding to about $1.0580, and despite having been buffeted by comments by the Fed’s Powell – who said the central bank is not in a hurry to cut US interest […]

Dollar remains King

The euro and sterling had just the briefest of respites against the dollar yesterday following the release of the latest US CPI report,both popping higher to reach their best levels of the day of $1.0650 and $1.2770 respectively, before resuming their descent. They are around a cent lower this morning trading at $1.0550 and $1.2680 […]

Euro sets new 2024 low versus dollar

The euro traded down to a 2024 low of $1.0595 against the dollar yesterday and is hovering just above this at $1.0605 this morning. Sterling’s slide against the US currency accelerated during the course of the session – falling to a low of $1.2720 – and it is trading at around $1.2735 at the start […]

Dollar extends its post-US elections gains

The dollar remains very much on the front foot as it continues to extend its post-US election gains. It has strengthened further versus the euro and sterling to trade at $1.0620 and just under $1.28 respectively, with the pound not helped by a mixed UK labour market  report already released earlier this morning. The latter […]

Euro on the back foot

The euro resumed on the back foot on Friday, following a brief respite on Thursday, with its slide accelerating during the course of the afternoon. It has fallen to a fresh post-US election low of $1.0680 against the dollar, and has slipped to a new 2024 low of just under £0.8290 against sterling. The pound also […]

US bond yields lower, dollar a little softer

There has been a partial reversal of some of Wednesday’s post-election moves in markets, with US bond yields lower and the dollar a little softer though US stocks have advanced further. The Fed and Bank of England (BoE) cut interest rates at their respective meetings yesterday, both by 25bps as expected. The euro and sterling […]

Fed and BoE set to cut rates

The so-called ‘Trump trade’ ramped up yesterday following the decisive outcome of the presidential election, with US equity markets making sizeable gains, US bond yields rising sharply, and the dollar strengthening across the board. The currency is off its best levels this morning, ahead of the Fed’s interest rate decision later today, trading at around […]