Author: Michael Crowley

Dollar on the back foot

The euro and sterling advanced against the dollar yesterday, following the Japanese yen higher with the latter gaining more than 1% against the US currency buoyed by speculation about interest rate hikes by the Bank of Japan. The euro rose to over $1.05 for a time but has slipped to around $1.0480 this morning, still […]

EURUSD off yesterday’s lows

Despite some hawkish ECB commentary yesterday, which pushed up euro area bond yields relative to US yields, the euro lost ground to the dollar, hitting a low for the day of around $1.04. Trump’s latest tariffs threat appeared to weigh on the currency, and also on sterling which was off around half a cent against […]

Main currency pairs little changed

The main currency pairs largely treaded water yesterday with a slight weakening bias to the euro against the dollar and sterling and the latter holding its own against the US currency. This morning’s CPI data in the UK – which showed  a further increase in headline inflation in January – were broadly in line with […]

Sterling gains ground

Sterling advanced against both the dollar and the euro yesterday and is largely holding onto these gains following the release a short while ago of the latest labour market report in the UK – which was broadly in line with expectations – trading at about $1.2620 and £0.83 respectively. The euro has drifted a little […]

Dollar on the back foot

The dollar was under pressure for much of last week, with a delay to Trump’s reciprocal tariffs and much softer than expected US retail sales weighing on the currency. It shed the best part of two cents (or about 1.5%) against both the euro and sterling, which hit highs for the week (and in the […]

No love in the air!

Describing this as “the big one”, Donald Trump yesterday announced in a social media post that (as previously threatened) he would impose reciprocal tariffs on US trading partners, confirming this later in a press conference after the close of European business. However there will be a delay of weeks, possibly months, before they are implemented […]

Euro gains ground

Yesterday’s US inflation data were stronger than expected, prompting an increase in bond yields as expectations for any Fed rate cuts were pared back and pushed out, though the dollar failed to progress. Indeed the euro closed higher against the US currency on the back of potentially positive developments in relation to the war in […]

Dollar retreats

The Trump tariffs-fuelled rally in the dollar stalled yesterday with the currency seeing a modest decline. The euro and sterling gained around a half and three-quarters of a cent respectively – with rising Euro area and UK bond yields providing some support – and are trading at around $1.0370 and $1.2450 this morning, leaving EURGBP […]

Dollar drifts higher

The dollar drifted higher during yesterday’s session but is not much changed following Donald Trump’s overnight confirmation of 25% tariffs on US steel and aluminium imports. The euro is trading at around $1.03 against the dollar this morning, while sterling has dipped to about $1.2350. This leaves EURGBP a touch firmer at just under £0.8350, […]

More tariff talk

The dollar gained ground on Friday following the January jobs report in the US and amid more Trump tariff talk, which continued over the weekend with his announcement that he would impose 25% tariffs on all steel and aluminium imports. The euro has slipped to around $1.0310 against the US currency while sterling has weakened […]