Sterling outpaces euro uncomfortably as Brexit backfires
Sterling hit a 5-1/2 month high against the euro on Wednesday after data showing lower inflation in major European markets.The euro is down around 1.5% against the pound in May, which would be the biggest monthly decline since October.
2023-06-02
Turkish lira sinks to record low after Erdogan victory
The Turkish lira sank to a fresh record low Monday as incumbent Recep Tayyip Erdogan secured his victory in the 2023 presidential election, extending his rule into a third decade in power.
2023-05-29
Improving economic outlook clouds the Fed’s path
The Fed signaled that it could pause rate hikes after May’s meeting, so investors become convinced that the dollar is near its tipping point and the Fed will cut rates by the end of this year.
2023-05-19
Lira traders brace for more volatility on runoff election
Erdoğan faced his toughest campaign since 2002 as the vote could go to a second round for the first time since Turkey switched to an executive presidency in 2017.
2023-05-15
Sterling bears surrender as U.K. economy defies doomsayers
GBP/USD was trading at 1.2618 on Tuesday, close to the 1.2688 it hit on Monday, its highest level since April 2022. EUR/GBP fell to 0.8698, the lowest level since mid-December.
2023-05-10
The Fed’s thorough rethink on rate hike? Don’t bet on it.
SVB failure is still reverberate across global markets as a big wake-up call for policymakers that have been taking a hard line on inflation.
2023-05-10
S&P 500 knocked down below 4,000 by Powell’s warning of bigger interest rate hikes
Federal Reserve Chair Jerome Powell dropped another bomb in his testimony to Congress on Tuesday, suggesting more hikes than previously anticipated might be needed to combat inflation.
2023-05-10
Gas prices chill in a warm winter
Gas bulls are through a bitterly chilly winter, and perhaps the worse is yet to come. On Monday US natural gases took a nosedive by 13% to their lowest in a week and European wholesale gas prices fell by 3.5% as the mild weather is expected to continue suppressing energy demand.
2023-04-28
U.K. grilled by higher-than-expected inflation
The BoE delivered more dovish tone than the Fed in saying the U.K. interest rates are around their peak though U.K. inflation looks more sticky and scorching. The latest reading unexpectedly rose to 10.4, breaking 3-month stretch of declines.
2023-03-24