Sterling extended its loss on Thursday


Sterling extended losses Thursday, marking its steepest two-month drop after British inflation unexpectedly hit a two-year low in October.

EBC Forex Snapshot

21 Dec 2023

Sterling extended its loss on Thursday. It registered the steepest drop in two months in the previous session after data showed British inflation slowed more than expected to a two-year low in Oct.

US consumer confidence increased more than expected in December, which could help to underpin the economy next year. The 10-year Treasury yields hovered near a seven-month low.


The dollar has been on the back foot for weeks and 150 bps of cuts by the Fed are already priced in for 2024, so investors might restrain from wagers on dollar declines.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 11 Dec) HSBC (as of 21 Dec)

support resistance support resistance
EUR/USD 1.0756 1.1017 1.0771 1.1057
GBP/USD 1.2326 1.2733 1.2491 1.2788
USD/CHF 0.8667 0.8957 0.8538 0.8767
AUD/USD 0.6522 0.6750 0.6575 0.6831
USD/CAD 1.3417 1.3695 1.3244 1.3554
USD/JPY 142.34 147.50 140.22 147.62

The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.

Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The Yen Remained Near the 158 Low on Tuesday

The Yen Remained Near the 158 Low on Tuesday

The dollar rose Tuesday as Philadelphia Fed President Harker predicted one rate cut this year but may adjust based on future data.

The Euro Hovers Near Lows on Monday

The Euro Hovers Near Lows on Monday

The dollar stayed firm Monday as investors awaited US economic signals. The euro hovered near a one-month low amid Europe's political turmoil.

The Yen Fell to An Over One-Month Low on Friday

The Yen Fell to An Over One-Month Low on Friday

The yen hit a 1-month low Friday as the BOJ held rates and announced future bond buying cuts, contrary to market expectations for this month.