• Euro under a little pressure

    The euro is under a little pressure against the dollar this morning, dipping below the $1.12 level, as political tensions spike in Italy, but is holding its owning against the beleaguered UK pound, trading just above 92p this morning, with the latter little changed against the dollar at around $1.21. Italian bond yields have jumped on the back of political developments – […]

  • A day of two halves

    It was a day of two halves yesterday as far as markets were concerned with stocks selling off and bond yields plunging initially before both rebounded subsequently, US equities managing to close in positive territory in the process and yields ending only marginally lower on the day. Amid this, the main currency pairs didn’t do an awful lot, as the euro continues to […]

  • Main exchange rates steady

    The main exchange rates are largely unchanged this morning. The dollar is continuing to trade around the $1.12 level against the euro, having lost some ground towards the end of last week and the start of this, while sterling is hovering around its recent lows against the single currency and the dollar, at about 92p and […]

  • Dollar loses ground

    It is all about Trump, tweets, trade and tariffs as far as markets are concerned at the moment. Trump’s threat to impose a 10% tariff on $300bn worth of goods imports from China from 1st September, together with the Chinese authorities’ decision to let the yuan weaken in response raising fears of a ‘currency war’ on top […]

  • Trump tweets further tariffs

    Even by the standards to which we have become accustomed, Donald Trump’s latest trade missive – a 10% tariff on all remaining Chinese goods imports to the US (about $300bn worth) – has come as a surprise, particularly as talks between the two sides had just resumed. Not surprisingly the market reaction has been swift and sharp, with equity […]

  • Dollar on the front toot

    The dollar is on the front foot this morning following yesterday’s Fed meeting and has strengthened to under $1.1050 against the euro, so breaking out of that range of $1.11 to $1.14 that has held for the past while. With the euro feeling the brunt, the pound has actually managed to regain some ground against the single currency and is now […]

  • Fed rate announcement later today

    Sterling remains under pressure although the pace of its decline against the euro and the dollar is slowing a bit, with the pound trading this morning at just over 91.5p and just over $1.2150 respectively. The UK and the EU remain poles apart on the backstop – the former says it has to go, the latter […]

  • The pounds slides

    Sterling remains under considerable pressure this morning – all related to the new UK government’s hard-line stance on Brexit and the associated increasing fears of a no-deal departure from the EU on 31st October – and is fast approaching 92p against the euro and $1.21 against the dollar.  Key levels to watch for the pound now are 93p, […]

  • Sterling on the back foot

    The pound is on the back foot this morning as the new UK government ups the ante regarding a no deal Brexit – the media was full of this over the weekend – falling back to 90p against the euro and to around $1.2350 against the dollar, the latter the lowest level since late 2017. Meanwhile, the single currency […]

  • Euro volatile

    The euro was volatile around yesterday’s ECB meeting and press conference, weakening to $1.11 against the dollar initially but then recovering to an intra-day high of almost $1.12 before “settling” back just below $1.1150, which is pretty much where it was yesterday morning. Meanwhile, sterling’s “Boris Bounce”, which was modest enough in any case, has also proved short-lived, with the pound heading […]