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Expert market insight and updates to help you navigate the ever changing global currency markets
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Sterling fell to a fresh 3 year low against the Euro on Monday, although recovered this morning following an impressive set of inflation figures.
Currency markets made much of the fall in US July retail sales. Special mention goes to the Mexican Peso, up as the prospect of a Trump victory recedes.
A strong retail sales number could bring a Fed September interest rate hike back into view and would provide impetus for a US Dollar rally today.
Last night the Reserve Bank of New Zealand slashed its benchmark interest rate to 2% in a bid to combat stubbornly low inflation.
Sterling ended its recent run of losses against the US Dollar, rallying back above the 1.30 level overnight after spending most of Tuesday below it.
The UK's trade balance for goods is now perilously close to a record high deficit. Meanwhile Friday's strong US nonfarm payrolls continues to support the US Dollar.
Friday's very strong US labour data meant a September interest rate hike is now a definite possibility.
Sterling fell over 1% against every major currency. The raft of stimulus measures are aimed to prevent a UK economic slowdown following June’s Brexit vote.
July’s disastrous PMI figures all but guarantee we’ll see action from the Bank of England's monetary policy committee. Interest rate decision at midday today.
The Fed might delay hiking interest rates and this news sent the US Dollar lower across the board. Friday’s US nonfarm payrolls figure could provide a catalyst.
