• Daily blog

    Main currency pairs little changed

    The euro and sterling were mainly in consolidation mode yesterday, having gained ground against the dollar on Wednesday following the latest inflation data in the US. They are both marginally lower trading at around $1.0860 and $1.2660 respectively this morning, while the euro-sterling cross continues to trade just below 86p. Government bond yields edged a […]

  • Daily blog

    Dollar lower post US inflation data

    Yesterday’s CPI data in the US was broadly in line with expectations, with headline and core inflation both nudging down in April. The data clearly came as a relief to markets, following a string of stronger than expected inflation readings recently, and will reassure the Fed that inflation is still heading in the right direction, […]

  • Daily blog

    Key US inflation data today

    The euro and sterling both advanced against the dollar yesterday, despite slightly firmer than expected producer price inflation data in the US, though their gains were modest enough. They are trading at around $1.0830 and just shy of $1.26 respectively this morning, ahead of the key US CPI inflation report later today, which in turn […]

  • Daily blog

    Quiet enough start to the week

    The euro firmed to just north of $1.08 against the dollar for a time yesterday before easing back again, and is trading at around $1.0780 this morning. Sterling also briefly gained some ground against the US currency but has since fallen back a bit to around $1.0560. All of this, meanwhile, leaves the euro-sterling cross […]

  • Daily blog

    Focus this week on US inflation data

    In what was a very quiet week for economic data, the Bank of England MPC meeting on Thursday created a flurry of excitement as the door was opened to a possible cut in UK interest rates next month. The impact on sterling was marginal enough though, with the pound closing out the week only slightly […]

  • Daily blog

    BoE to cut rates soon?

    The Bank of England MPC left interest rates on hold at 5.25% yesterday though two of the nine members voted for an immediate quarter-point reduction, while BoE Governor Andrew Bailey opened the door to a possible (but not certain) cut in June. Sterling fell initially against the dollar and the euro, but has since more […]

  • Daily blog

    BoE meeting the focus today

    Sterling is largely unchanged against the dollar and the euro this morning ahead of the Bank of England’s interest rate announcement later today, as it continues to trade just below $1.25 and at 86p respectively. The market doesn’t expect any change in UK interest rates today but will be watching closely to see if the […]

  • Daily blog

    Pound on the back foot

    Sterling has lost some more ground ahead of tomorrow’s Bank of England monetary policy meeting, slipping to $1.2480 against the dollar and to 86p against the euro, suggesting the market may be expecting a dovish tilt on interest rates. The single currency, meanwhile, is marginally lower against the dollar this morning trading at about $1.0745 […]

  • Daily blog

    Bond yields head further south

    The euro has held most of the modest gains it made against the dollar following Friday’s softer than expected employment report in the US and is trading at around $1.0770 this morning. Sterling has given up its gains against the US currency though to trade at about $1.2540, and is also slightly lower vis-a-vis the […]

  • Daily blog

    Payrolls in the US today

    The dollar is little changed against the euro and sterling from where it was this time yesterday morning, having attempted to retrace its post-Fed meeting dip in the intervening period, trading at around $1.0730 and $1.2540 ahead of the key US employment (payrolls) report later today. The euro-sterling cross remains tightly range-bound trading at about […]