• Quiet start to the week

    It was a relatively quiet start to the week, with the US on a public holiday. Still, we did see the euro slip further against the dollar and it’s now back trading at around $1.2350, which is about  2 cents down from last week’s high Indeed, the dollar is firmer all round, clawing back ground against the yen […]

  • Euro off its high

    The euro was on the front foot against the dollar for most of last week (as indeed were the other major currencies). It gained around 1.5 cents to end close out Friday trading at $1.24, although this was also about 1.5 cents off its intra-week high of $1.2550 The single currency has also eased back somewhat against […]

  • Dollar slide continues

    Broad-based dollar weakness remains the main theme in the foreign exchange market. It continues to lose ground against all the other main currencies, falling to fresh lows of over $1.2550 to the euro overnight and sliding to under Y106 against the yen. Sterling’s gains against the US currency (to over $1.41) have broadly matched those […]

  • Dollar weaker again

    The dollar is weaker again at the start of play this morning, having fallen to around $1.25 against the euro, to over $1.40 against sterling, and to close to Y106 against the yen. The currency’s fall coincided with more gains for equity markets, which rose by more than 1% yesterday notwithstanding firmer than expected inflation data in the US The […]

  • Dollar a little softer again

    The dollar continues to give up some of its recent gains. It is trading just shy of $1.24 against the euro and at over $1.39 against the sterling, while it fell below Y107 against the Japanese yen for a time overnight before recovering some ground It was a mixed day for bond yields in the core markets though the […]

  • Equity markets regain ground

    The start to this week was much less eventful than was the case last week. In contrast to the plunge in equity markets that occurred last Monday, stocks rose for a second consecutive session yesterday with both the US and Europe gaining around 1.5% The dollar has ceded some ground as equities have rebounded. It has fallen to over $1.23 against the single currency, from […]

  • Sterling reverses course

    Sterling lost ground against the euro on Friday after the EU’s Barnier said there were ‘substantive’ differences between the EU and the UK on aspects of a transition period, adding that there’s no guarantee one would be agreed. The UK currency fell to just shy of 89p, having strengthened to under 87.5p on Thursday after the […]

  • BOE signals ‘earlier’ rate hike

    The Bank of England left interest rates unchanged at 0.5% yesterday, but said they may need to go up ‘somewhat earlier and by a somewhat greater extent’ than anticipated a couple of months ago. The market promptly priced in a greater chance of a hike relatively soon, probably at the BOE’s May meeting, with (UK) bond yields rising in tandem Sterling […]

  • Dollar generally firmer

    The dollar is firmer against most of the other main currencies. It has recovered further ground against the euro trading just below $1.2250, which is around 3 cents off its recent lows, and has risen to under $1.39 against sterling, which compares to its low of almost $1.43 late last week. It had been one-way traffic for the US currency since […]

  • US stocks recover some ground

    US equity markets recovered ground yesterday, with gains of around 2% across the main indices partially reversing Monday’s falls. It’s probably too early yet to say we’re out of the woods though – there was little follow through into Asian stocks overnight while the futures market currently points to a renewed fall in the US at its open later today Bond yields reversed course as stocks rebounded, […]