Category: Daily blog

Dollar a touch softer

Having traded in a very tight range yesterday, the euro has pushed on a bit against the dollar overnight and is back close to Monday’s high of about $1.1650. Sterling is also creeping up against the US currency, trading at around $1.3250 this morning (Monday’s high was $1.3275). The pound has slipped to circa £0.88 […]

Euro, pound retreat from highs vs dollar

Taking their cue from the Japanese yen – which rose against the dollar following signals from the Bank of Japan (BoJ) that it may raise interest rates this month – the euro and sterling traded up to highs of around $1.1650 and $1.3275 respectively against the US currency yesterday. However, much like the yen, they […]

Dollar edging down

The euro advanced against the dollar last week and is back around $1.16, up about 1c from $1.15 at the start of last week. Helping the single currency is speculation that a peace deal for the Ukraine and Russia might be inching closer and not helping the dollar is news from President Trump that he […]

Quiet day on Thanksgiving

With US markets closed for Thanksgiving, markets took a breather and it was a quiet day overall. There was little data or news to move the needle for the major currencies. The euro was little changed – touching off $1.16 at times briefly – and remains at around $1.1580 currently. Similarly, the euro is little […]

Muted market reaction as UK budget puts off difficult decisions

There was some market volatility yesterday as the details of the UK budget were leaked early. This initially put sterling under a little pressure but, in the end, sterling actually gained somewhat once the full budget was revealed. Sterling is now trading at about 87.5p to the euro and above $1.32 against the dollar. The […]

Dollar on the back foot

Speculation that a Russia-Ukraine peace deal was advancing saw the euro gain sharply yesterday. The single currency rose 0.5% back towards $1.1580, having touched off $1.15 at the end of last week. Also not helping the dollar were rumours that close Trump ally and National Economic Council Director Kevin Hassett was now the frontrunner for […]

Dollar gains halted as euro steadies

The euro made up some ground against the dollar midday yesterday to touch off $1.1550, but retreated again later on. That left the euro slightly up on the day at around $1.1525 this morning. This halted the dollar’s advance which had gained about 0.9% last week. There was a limited amount of data to move […]

Dollar has a good week

The dollar advanced again on the euro on Friday to end a good week for the US currency. The dollar has gained to about $1.1520 to the euro this morning from over $1.1620 at the start of last week. The dollar also gained on sterling last week to around $1.31, appreciating about 1 cent over […]

Dollar slightly softer post US jobs report

Yesterday’s employment report in the US was something of a mixed bag. The economy added more jobs than expected in September but the unemployment rate came in slightly higher than forecast. The report didn’t alter expectations for next month’s Fed meeting very much with the chances of a rate cut raised a little but still […]

Dollar on the front foot

The dollar advanced across the board yesterday as the market pared back substantially expectations for a Fed rate cut at next month’s meeting. This followed the announcement that, after today’s US jobs report (for September), the next report will not be published until after the December 10th meeting, leading the market to conclude that, in […]