Author: Michael Crowley

Euro drifting lower

The euro is drifting lower ahead of the ECB’s interest rate announcement later in the week. It has dipped below the $1.09 level against the dollar, trading at about $1.0890 this morning, and has slipped to £0.8340 against sterling. The pound is marginally lower against the dollar at around $1.3050. UK labour market data released […]

ECB meeting the focus this week

Having both shed around 3 cents against the dollar the previous week, the euro and sterling remained within relatively narrow ranges of around $1.09-$1.10 and $1.3020-$1.3130 respectively last week. They kick off at about $1.0930 and $1.3065 this morning, with EURGBP hovering just above £0.8360. There’s plenty for markets to digest over the coming week. […]

Dollar remains on the front foot

The euro and sterling remain under pressure against the dollar. They dipped to lows yesterday of $1.09 and $1.3020 respectively following firmer than expected US CPI inflation data for September, but both have recovered a touch since to trade at around $1.0940 and $1.3060 this morning. EURGBP remains confined to a relatively narrow range, trading […]

Dollar firm ahead of US inflation data

The market continues to pare back expectations for near-term Fed rate cuts – just around 40bps in total is now priced in for the final two meetings of this year, down from circa 75bps a short while ago – which is pushing up US bond yields and underpinning the dollar. The euro and sterling are […]

Main currency pairs little changed

It remains fairly quiet in FX markets with the main currency pairs again not much changed. The euro and sterling are trading at around $1.0960 and $1.3070 respectively against the dollar, a touch softer and unchanged respectively from this time yesterday morning, while EURGBP has retreated a little from the £0.84 level, trading at about […]

Sterling drifts a little lower

The main currency pairs are not much changed following the sizeable enough moves seen last week. The euro is a touch firmer against the dollar but remains below the $1.10 level, trading at around $1.0980 this morning, and has also nudged up against sterling to £0.84. The pound has slipped against the US currency to […]

Dollar advances post US jobs data

The dollar advanced against the euro and sterling following Friday’s much stronger than expected US jobs data for September, although its gains were relatively modest. The euro is trading at around $1.0960 against the US currency this morning, down a bit more than half a cent from immediately prior to the release of the data […]

US jobs report the focus today

Sterling extended its slide against the euro and the dollar over the first half of yesterday’s session, falling to lows of around £0.8435 and $1.3090 respectively, but it subsequently managed to recover some ground and trades at £0.8390 and $1.3150 this morning. The euro was also under pressure against the dollar, falling to an intra-day […]

Sterling on the back foot this morning

Sterling is under pressure this morning after comments by Bank of England Governor Andrew Bailey, who told The Guardian newspaper that the central bank could become “a bit more aggressive” in cutting interest rates provided the news on UK inflation continued to be good. The pound has fallen to around $1.3160 against the dollar (more […]

EURUSD lower again

A combination of firming ECB rate cut expectations and concerns about developments in the Middle East weighed on the euro yesterday. The single currency fell to lows of around $1.1045 and £0.8310 against the dollar and sterling respectively, but has since partially recovered to around $1.1070 and £0.8330. The pound also lost ground to the […]