Category: Daily blog

FX market largely treading water

It was relatively uneventful in FX markets again yesterday. There wasn’t a whole lot of movement in the main currency pairs amid a mixed bag of US economic data. The euro traded within a tight range against the dollar and is at around $1.1680 this morning. Sterling has drifted lower against the US currency, to […]

Dollar regains some ground

The main currency pairs traded in relatively narrow ranges with the dollar slightly firmer. Softer than expected German inflation data for December weighed on the euro, which is trading at around $1.1680 against the US currency this morning and so not far off Monday’s low of $1.1660. Sterling is off its best levels against the […]

Sterling on the up

Markets largely shrugged off the weekend’s developments in Venezuela. Stocks in particular chalked up solid gains notwithstanding some softer than expected US economic data. The dollar has given up yesterday morning’s gains, slipping back against the main currencies. EURUSD is  trading at around $1.1730 this morning, off lows yesterday of circa $1.1660, while GBPUSD has […]

An eventful start to 2026

Only a few days into the New Year and it’s already proving eventful. Not surprisingly perhaps, given the experience of the past year, Donald Trump is central to developments as the US takes over the ‘running’ of Venezuela. The market reaction is relatively muted so far with oil prices just a little lower and the […]

Euro a little softer

While there is a full day of trading today, markets won’t get fully back into the swing of things until next week. The euro and sterling are both a touch lower against the dollar (versus Wednesday’s close) at around $1.1715 and $1.3450 respectively, while the single currency is also a little softer against the pound […]

Dollar firmer after Fed minutes

The dollar has gained some ground following the release of the minutes of the Fed meeting earlier this month, at which interest rates were cut by 25bps for a third time since September. The minutes noted that, while a further reduction in rates was still likely if inflation declined as expected, some members felt it […]

Pound edging higher versus euro

The euro is trading at around $1.1775 against the dollar this morning, in line with last week’s closing levels. Sterling remains above $1.35 against the US currency and continues to edge higher against the euro, trading just above £0.87. Government bond yields were little changed yesterday, dipping by just a couple of basis points across […]

Main currency pairs little changed

The main currency pairs are little changed from yesterday morning’s levels notwithstanding stronger than expected GDP data in the US – the economy expanded by more than 1% q-o-q in Q3, driven by robust growth in consumer spending – with EURUSD and EURGBP trading at around $1.18 and £0.8725 respectively this morning and GBPUSD still […]

Dollar on the back foot

The dollar has started the holiday-shortened week under pressure, losing ground across the board. The euro has jumped to around $1.1790, at the top of  the relatively narrow trading range ($1.17 to $1.18) that has prevailed over the past couple of weeks or so. Sterling – which has generally been on the front foot since […]

Sterling gains some ground

The Bank of England’s “cautious” rate cut helped sterling chalk up modest gains against the dollar and euro last week, with the pound trading just north of $1.34 and just under £0.8750 respectively at the start of play today. The single currency lost some ground to the dollar on the week, notwithstanding the ECB keeping […]