Author: Michael Crowley

Euro a touch softer this morning

With the US and UK on public holiday and little or nothing in the way of economic data, it was very quiet in financial markets yesterday. After popping higher against the dollar early on, the euro and sterling remained in tight ranges thereafter. The single currency is a touch softer this morning though following the […]

Dollar under pressure

Donald Trump jolted markets on Friday with his threat to slap a 50% tariff on the EU from June 1st, saying trade negotiations with the bloc have been “going nowhere”, though he has now agreed to extend this to July 9th (the end of the 90-day ‘reciprocal’ tariffs pause period) following a “nice call” with […]

Some respite for US bonds

There was some respite for US government bonds yesterday, with yields falling back after they had risen quite sharply on Tuesday-Wednesday. The dollar also advanced, helped by some firmer than expected US economic data, but it has failed to hold onto its gains. It is trading at $1.1330 against the euro this morning, off yesterday’s […]

Sharp jump in US bond yields

With concerns about the country’s fiscal position remaining to the fore, the sell-off in US government bonds accelerated yesterday, while US equity markets ended well down on the day. However, having slipped against the euro and sterling early in yesterday’s session, the dollar remained in relatively tight ranges thereafter. It is trading at $1.1320 and $1.3420 […]

Dollar slipping again

US longer-dated bond yields are higher, US stocks lower and the dollar weaker amid the fallout from the US credit rating downgrade and related concerns about Trump’s “One Big Beautiful (Tax) Bill”, currently moving through Congress, which will add to the country’s deficits and debt over the coming years. The dollar has fallen to around […]

Dollar remains under pressure

Notwithstanding a decent rebound in US bond and equity markets, the dollar remains under pressure following Moody’s credit rating downgrade. It is trading at around $1.1270 and $1.3380 against the euro and sterling respectively this morning, only marginally off yesterday’s lows (of about $1.1290 and $1.34). EURGBP is largely unchanged as it continues to hover […]

Dollar on defensive after Moody’s downgrade

The dollar chalked up modest gains against the euro and sterling on Friday, reaching intra-day highs of around $1.1130 and $1.3245 respectively, following the release of firmer than expected US inflation-related data.  However, it has retreated again following Moody’s one-notch downgrade to the US triple A credit rating, announced after the close of business on […]

Main currency pairs little changed

Softer than expected US economic data contributed to a sharp enough decline in bond yields yesterday, though the dollar didn’t do a whole lot. It is not much changed from yesterday morning’s levels against the euro and sterling, trading just north of $1.12 and $1.3320 respectively. The pound is marginally firmer against the euro at […]

Euro and sterling off highs vs dollar

The euro and sterling rose to highs of around $1.1270 and $1.3360 against the dollar yesterday, before retreating as the latter got some support from rising US bonds yields. They are trading at about $1.12 and $1.3290 respectively this morning, which in turn sees EURGBP a touch firmer at around £0.8430. First-quarter GDP data in […]

Dollar gives up ground

The dollar has given up a good bit of the ground it made at the start of the week, with slightly softer than expected US inflation data for April weighing on the currency. The euro and sterling have both rebounded by the best part of a cent from yesterday morning’s levels to trade at around […]