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Expert market insight and updates to help you navigate the ever changing global currency markets
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US dollar falls after Federal Reserve cuts ratesThe dollar sold off against most of its peers after the Federal Reserve fell short of delivering on market expectations for a "hawkish cut" last week.
The inability of the US government to agree on an extension to its additional unemployment insurance benefit scheme continued to weigh on the dollar on Wednesday. Meanwhile, the pound brushed aside the latest UK GDP figures.
The UK economy officially entered into its worst recession on record in the second quarter of the year, the first time it has done so since the global financial crisis in 2009. Read on to find out how the pound reacted to this morning’s release.
The euro edged lower against the dollar during quiet London trading on Monday, with investors using the opportunity to profit take following the pairs’ recent rally. Sterling held its own ahead of tomorrow’s UK GDP figures.
Compromised email accounts is still the top reason why we see clients falling victim to fraud. We would like to offer a few tips on what to look out for to stay safe.
This week we visit Zimbabwe and the headwinds its financial markets and payment channels are facing.
We look ahead to this afternoon’s US nonfarm payrolls report, with indications suggesting that it may well surprise to the downside. Elsewhere, sterling gave up yesterday morning’s gains after comments from BoE Governor Andrew Bailey.
The pound rose against its major peers this morning after the Bank of England revised higher its GDP projections for this year, while cooling talk regarding the possibility of negative UK interest rates.
Sterling rose back above the 1.31 level versus the US dollar this morning ahead of Thursday’s Bank of England ‘Super Thursday’ announcement. Meanwhile, the sell-off in the US dollar resumed, as political bickering in Congress continued.
This week’s ‘Super Thursday’ announcement from the Bank of England is set to be one of the main focal points of currency trading in the next few days.
The dollar clawed back some ground versus its major peers on Monday, with investors hopeful of news out of Congress on additional fiscal support from the US government. Sterling held firm above the 1.30 level as investors await Thursday’s Bank of England announcement.
