• US equities at new highs

    Equity markets in the US set new all-time highs yesterday, with the main indices there gaining a further 1% on the day, but core bond yields were little changed as were the main exchange rates. The dollar continues to  hover just below the $1.1150 level against the euro and just under $1.31 against the pound, with the latter trading a little above […]

  • UK inflation lower again

    The pound was on the back foot for a brief time yesterday after the release of weaker than expected inflation data out of the UK, though it settled down again subsequently and this morning is trading at about 85.5p against the euro and at around $1.3050 against the dollar. The latter, meanwhile, is a touch softer against the single […]

  • Not much change

    The main exchange rates are broadly stable this morning with the dollar trading at just below $1.1150 against the euro and at around $1.30 against sterling, leaving the pound in the vicinity of 85.5p against the single currency. Bond yields edged down a little and are now flat to slightly  lower week to date, while equity markets were marginally […]

  • Dollar drifting lower

    The dollar continues to drift very slowly lower against the euro and is trading at around $1.1150 this morning, which compares to a high of around $1.1080 towards the end of last week. The pound also continues to lose ground against the euro – it is now knocking on the door of 86p  – and the dollar – […]

  • Pound under pressure

    Sterling is under pressure this morning as Bank of England-fuelled speculation about a near-term cut in UK interest rates weighs on the currency, which has weakened to around 85.5p against the euro and to about $1.30 against the dollar. The latter, meanwhile, is a touch softer against the single currency at $1.1125, which is about […]

  • US employment report today

    The dollar is holding onto its latest gains against the euro, still trading at around $1.11 this morning, and continues to hover just below the $1.31 level against sterling, all of which leaves the pound trading at around 85p against the single currency, not much changed from where it closed out 2019 but slightly weaker than last year’s high of 83p posted immediately following […]

  • Stepping back

    It is not just Megan and Harry that are stepping back it seems, the US and Iran also appear to be stepping back from the brink (if that indeed is what it was), with President Trump noting that Iran looks to be ‘standing down’ and the latter’s foreign minister saying, following yesterday’s retaliatory strikes, that it would […]

  • Iran retaliates

    Markets are a little on edge this morning on the news of retaliatory strikes by Iran on US bases in Iraq. Yields in the core bond markets have moved down a little, stocks have fallen in Asia overnight (with European equities likely to follow suit this morning), and the dollar has firmed against the euro, though not by much, to […]

  • US stocks rebound

    Equity indices in the US recovered from early lows to finish marginally higher yesterday and are ahead of where they ended 2019 despite escalating geo-political tensions at the start of this year.  Bond yields in the core markets crept higher as well, following steep falls on Friday, and the dollar has given up some of its gains against the euro, to trade just below $1.12, and […]

  • Cautious start to 2020

    While 2019 was characterised by persistent uncertainty, it did end with two positive developments. The US and China agreed an interim trade deal, and a ‘no deal’ Brexit was avoided with the UK now set to leave the EU at the end of this month with an ‘as you were’ transition period running until the end of 2020. However, events at the […]