Author: Michael Crowley

Sterling lower this morning

The dollar was under pressure for much of yesterday’s session, notwithstanding quite a sharp sell-off in equity markets, with EURUSD and GBPUSD trading up to intra-day highs of circa $1.1660 and $1.3215 respectively. Sterling in particular has come back a bit since though, with media reports that the Chancellor, Rachel Reeves, has abandoned ‘plans’ to […]

Sterling under some pressure

Sterling lost some ground yesterday amid the controversy that has arisen in relation to the leadership of the UK Prime Minister, Keir Starmer. Meanwhile, data for UK GDP in Q3 published a short while ago were slightly softer than expected, keeping the pound under pressure. It is trading at around £0.8840 against the euro this […]

Limited price action in FX markets

The price action in FX markets was limited enough yesterday. The euro traded north of $1.16 against the dollar for a time but is back at about $1.1585 this morning, marginally firmer than yesterday morning’s levels. Having slipped following weaker than expected UK labour market data, sterling remains north of £0.88 against the euro and […]

Sterling softer after UK labour market data

While progress in ending the government shutdown in the US contributed to a rally in equity markets yesterday, the response in both bond and currency markets was muted. In FX, the main currency pairs were confined to narrow ranges, ending little changed from Friday’s closing levels. Sterling is a touch weaker this morning on the […]

A week of two halves in FX markets

It was a ‘game of two halves’ last week in FX markets, with the dollar in the ascendancy initially before reversing course quite sharply thereafter albeit ending the week little changed overall. The euro and sterling closed out the week at around $1.1565 and $1.3160 against the US currency respectively, well off their intra-week lows […]

Sterling little changed post BoE meeting

The Bank of England MPC left interest rates unchanged at 4%, as largely expected. The vote to do so was extremely tight though – four of the nine Committee members preferred to lower rates by 25bps – and the door is now open to a cut at next month’s meeting. Having dipped briefly following the […]

Dollar touch lower as US stocks rebound

The dollar has given up some ground as US equity markets rebound from a sell-off earlier in the week. The euro is trading at around $1.1510 against the US currency this morning, almost half a cent off its lows yesterday of just under $1.1470. Ahead of the Bank of England MPC’s latest interest rate announcement […]

Dollar remains on the front foot

The dollar gained more ground yesterday amid a slide in equity markets. The euro has dipped below the $1.15 level against the US currency – though it is still around a cent off its second half of the year to date low of just under $1.14 in late July – while sterling has fallen to […]

Sterling a touch softer at the off

There wasn’t a whole lot of movement in FX markets yesterday with the main currency pairs largely in consolidation mode, for now at least. The euro dipped to low of circa $1.15 against the dollar during the course of yesterday’s session but is back up to around $1.1530 this morning. Sterling is a touch weaker […]

Bank of England in spotlight this week

The euro and sterling both lost ground against the dollar last week, shedding around one and two cents respectively (and two and three cents respectively for the month of October), most of this clocked up following Wednesday’s more hawkish than expected Fed meeting. The single currency (at $1.1530) is trading at the bottom end of […]