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Sterling firms versus euro and dollar after UK inflation data

Wednesday,   19-Jun-2024   03:35 (IST)

Sterling rose after UK data showed that underlying price pressures remained strong, meaning the Bank of England is likely to wait longer before cutting interest rates. British inflation returned to its 2% target in May for the first time in nearly three years, while the closely-watched services prices rose by 5.7%. Markets priced in a 30% chance of a BoE first cut by August from around 50% before the data, while expecting 44 bps of monetary easing in 2024 from almost 50 bps before the data. The euro fell 0.20% to 84.32 pence against the pound, which was up 0.16% at $1.2730. It was flat right b...

Dollar struggles for direction, sterling rises after data

Wednesday,   19-Jun-2024   03:34 (IST)

The dollar steadied on Wednesday as soft U.S. economic figures weighed by boosting U.S. rate-cut bets but political jitters in Europe offered some support by weakening the euro. Meanwhile sterling ros...

Dollar steadies; sterling dips ahead of inflation test

Wednesday,   19-Jun-2024   08:03 (IST)

The dollar was nursing losses on Wednesday after soft U.S. retail sales data reinforced bets of imminent Federal Reserve rate cuts, while sterling eased a touch ahead of a reading on UK inflation due ...

Pound dips as investors look to inflation data and rates decision

Tuesday,   18-Jun-2024   03:28 (IST)

The pound slipped to trade around a one-month low against the dollar on Tuesday as investors waited for inflation figures on Wednesday and the Bank of England's interest rate decision the day afte...

Dollar edges up as traders await Fed rate cut clues

Tuesday,   18-Jun-2024   11:51 (IST)

The dollar edged higher on Tuesday as traders awaited a key U.S. retail sales report and comments from Federal Reserve officials to better gauge the timing and pace of interest rate cuts. The U.S. dol...

Dollar wobbles as markets await more Fed clues; RBA meeting in focus

Tuesday,   18-Jun-2024   08:18 (IST)

The dollar drifted lower on Tuesday, extending the previous day's losses against the euro and sterling, as market jitters over the risks of a far-right French government receded. The U.S. currency...

Dollar stays strong, political uncertainty saps euro

Monday,   17-Jun-2024   02:16 (IST)

The dollar held firm on Monday, while the euro traded around more than one-month lows, as political turmoil in Europe ramped up the level of uncertainty among traders, while investors awaited more dat...

Dollar firm as euro wallows; yuan brushes aside China data

Monday,   17-Jun-2024   10:00 (IST)

The dollar was firm on Monday as the euro hovered near a more than one-month low amid continued concerns about the political outlook in Europe. The yuan held close to a multi-month low after China rel...

Sterling on track for best week of year against ailing euro

Friday,   14-Jun-2024   04:34 (IST)

Sterling was on track for its biggest weekly gain against the euro in nearly seven months on Friday, as investor concerns sparked by France's snap election continued to pummel the euro zone curren...

Yen weakens on BOJ surprise, euro set for worst week in two months

Friday,   14-Jun-2024   03:36 (IST)

The yen fell to an over one-month low on Friday after the Bank of Japan (BOJ) stood pat on interest rates and said it would trim bond buying, while the euro, mired in a political turmoil, was headed f...