Author: Michael Crowley

Dollar firmer

With bond yields backing up a little and equity markets losing some ground, the dollar made modest gains against the euro and sterling yesterday and is firmer again this morning trading at around $1.081 and $1.262 respectively This in turn sees EUR/£ unchanged at about 85.7p. In government bond markets, US and UK 10-year yields […]

Bond yields plunge

Last week saw the market price in earlier and deeper interest rates cuts by the ECB and Fed in 2024 following the latest Euro area and US inflation readings, with the Bank of England expected to lower rates later and by less than the other two central banks next year. Sterling was the beneficiary of […]

Weekly Round Up – 01.12.2023

This week’s highlights: Euro area inflation falls to 2.4%; US PCE inflation down to 3%; EUR/$ lower on the week; Sterling firmer. Read in full: Weekly Round Up 1 December 2023  

Euro on the back foot

The euro has given up some ground against the dollar following the latest round of inflation data in the Euro area and US, shedding more than half a cent to trade at around $1.09 this morning. Sterling also weakened against the US currency during yesterday’s session but is slightly firmer this morning at $1.2650, leaving […]

Euro a touch softer

The euro is under a little pressure following the release of softer than expected inflation data in France earlier this morning, which comes ahead of the latest inflation reading for the Euro area later today, dipping to around $1.0950 against the dollar and to 86.2p against sterling. The latter remains close to its high for […]

Dollar tumbles

Dovish remarks by a leading member of the Fed yesterday contributed to a notable fall in US bond yields and a further decline in the dollar, which has weakened to $1.10 to the euro and to $1.27 to sterling, its lowest levels since early and late August respectively. The euro is a touch softer against […]

Bond yields lower

The dollar edged higher for a time during Monday’s session as stocks weakened and bond yields fell,  but the main currency pairs are little changed this morning from where they were trading early yesterday with the euro and sterling at $1.0940 and $1.2610 against the US currency respectively and EUR/£ at 86.7p. Both US and […]

Sterling on the front foot

Sterling outperformed last week as stronger than expected UK economic data and hawkish Bank of England commentary prompted a paring back of market expectations for interest rates cuts next year and an associated spike in bond yields. The pound gained about 1.5 cents against the dollar and almost a penny against the euro, kicking off […]

Weekly Round Up – 24.11.2023

This week’s highlights: Sterling gains ground; EUR/$ marginally firmer; Bond yields rise on the week; Mixed bag of PMIs. Read in full: Weekly Round Up 24th November 2023

Main currency pairs little changed

It was relatively quiet in FX markets yesterday given Thanksgiving in the US. Both the euro and sterling are little changed against the dollar this morning trading at $1.09 and $1.253 respectively, with EUR/£ still hovering just above 87p. In government bond markets, UK 10-year yields rose by around 10bps after stronger than expected PMI […]