• Euro little changed post ECB meeting

    The euro is little changed following yesterday’s ECB meeting, trading at around $1.1350 against the dollar and circa 90p against sterling. The pound, meanwhile, is managing to hang onto its gains against the US currency, hovering around the $1.26 level, after it had threatened to break a good deal lower earlier in the week As expected, the ECB confirmed […]

  • Sterling firmer as May survives

    Sterling is firmer this morning as Theresa May survives the vote of no confidence in her leadership of her party. The pound is trading at just under 90p against the euro, having been at almost 91p this time yesterday morning, and has recovered to about $1.2650 against the dollar having fallen below $1.25 at one stage yesterday. The single currency, meanwhile, […]

  • Sterling remains on the back foot

    Sterling remains under pressure, as news breaks that Theresa May is to face a vote of confidence in her leadership from within her own party, with the pound trading below $1.25 against the dollar and heading towards the 91p level (its 2018 to date low set in late July) against the euro. The single currency, meanwhile, has yet again failed to […]

  • Sterling heads south

    Sterling weakened notably yesterday after Theresa May decided to postpone the vote on the Brexit deal scheduled for parliament today, falling to over 90p against the euro, its lowest level since early September, and to under $1.26 against the dollar, its lowest level since April 2017. As the Irish Times puts it, PM May decided to accept the lesser of two humiliations, the ignominy of […]

  • Sterling softer as Brexit vote approaches

    Sterling has softened against the euro, to just shy of 90p, ahead of  tomorrow’s vote in the UK parliament on Theresa May’s Brexit deal with the EU. That’s if the vote goes ahead as planned –  there’s still talk it might be postponed. If it does go ahead parliament seems likely to vote down the deal, so whether May survives to take […]

  • Chaotic markets

    It was pretty chaotic in markets yesterday with equities selling off sharply and core bond yields falling quite notably. However, while European stocks closed down more than 3% on the day, stocks in the US reversed course late into the New York session, rallying by around 3% from their lows to end largely flat overall (in the case of the S&P 500), with US […]

  • Stocks remain under pressure

    The dollar is a little firmer this morning as equity markets remain under pressure, with the US currency trading at around $1.13 and $1.27 against the euro and sterling respectively. The pound is largely unchanged against the single currency at 89p, with the debate on the Brexit deal continuing today in the UK parliament and the government’s chief whip reportedly […]

  • Euro slips against the dollar

    The euro is under pressure against the dollar, slipping back towards the $1.13 level from around $1.14, as international equity markets lose ground. Sterling has also weakened a little against the US currency to trade at around $1.27 this morning (having slipped below this level overnight), while it is largely unchanged against the euro at just over 89p US equity […]

  • Equity market rally fizzles out

    The euro is holding the gains it made against the dollar following news of the tariff truce between the US and China over the weekend, trading at around $1.14 this morning. The single currency is also a little firmer against sterling at about 89.25p, as the row in the UK parliament over the Attorney General’s legal advice in relation to the Brexit […]

  • US-China agree temporary trade truce

    There’s a positive tone to equity markets at the start of this week’s trading on news that the US and China reached a temporary truce on trade over the weekend. Asian stocks have gained ground overnight and Europe has opened firmly in positive territory this morning , while US indices look set to do likewise later. The dollar is a bit weaker […]