Author: Michael Crowley

Bond yields fall further

Amid the ongoing turmoil in the banking sector – with the Swiss authorities announcing the sale of Credit Suisse to UBS and the major central banks taking coordinated action to enhance the provision of liquidity to banks – the euro and sterling are both managing to hold onto the gains they made against the dollar […]

ECB in a bind

A sell-off in equity markets yesterday, led by a sharp decline in European bank stocks, spilt over into both foreign exchange and bond markets. In the former, the euro traded down to just shy of  $1.05 against the dollar and to almost 87p against sterling, but it has since recovered to over $1.06 and close […]

Euro little changed

The euro is not much changed against the dollar and sterling this morning at just over $1.07 and a bit above 88p respectively, while the pound is trading at about $1.2150 against the US currency European equity markets partially rebounded yesterday, regaining around 2% having fallen by 3% in Monday’s session, while the S&P in […]

Bond yields plunge

The euro is a touch softer against the dollar trading back below $1.07 this morning, while the pound has advanced a bit further against the US currency to around $1.2150 and is also firmer against the euro trading just under 88p. Government bond yields have collapsed as the market reassesses the outlook for central bank […]

Dollar loses more ground

The dollar was conspicuous last week in not benefiting from a “flight to safety” as equity markets sold off quite sharply, losing ground to both the euro and sterling over the second half of the week. It has fallen further against both currencies overnight to trade north of $1.07 and $1.21 respectively, leaving EUR/£ largely […]

Weekly Round Up – 10.03.2023

This week’s highlights: EUR/$ bounces off lows; Bond yields fall on the week; UK GDP +0.3% in Jan; US payrolls +311k in Feb. Read in full: Weekly Round Up 10 March 2023

Bond yields fall as stocks sell off

The euro and sterling are both a bit firmer against the dollar this morning at just under $1.06 and north of $1.19 respectively, while the pound has gained some more ground against the single currency to trade close to 88.5p Government bond yields are a good bit lower this morning on a mini “flight to […]

Dollar on the front foot

The dollar is on the front foot after comments by Fed Chair, Jerome Powell, on the outlook for US interest rates, strengthening to around $1.0550 against the euro and to just shy of $1.18 against sterling. This in turn leaves the euro marginally firmer against the pound at just over 89p In government bond markets, […]

Euro marginally firmer

The euro has advanced a little against both the dollar and sterling to trade near $1.07 and close to 89p respectively this morning, while the pound is largely unchanged against the US currency at about $1.2050 Equity markets chalked up modest gains at the start of the week’s trading, while in government bond markets, US […]

US bond yields reverse course

The euro and sterling both made some modest gains against the dollar last week and kick off this week trading at around $1.0650 and $1.2050 respectively, in turn leaving the single currency-pound exchange rate hovering in and around 88.5p It was something of a week of two halves last week for US 10-year yields, which […]