Dear Reader,

Today's overview of economic news and market action

• • • There was a mixed mood on markets throughout the first full trading day of 2025 …
    • On the currency front, the dollar was firmly in the ascendancy yesterday …
    • The greenback gained 0.8% versus the euro and rose by over 1% against sterling …
    • EUR/USD recorded a two-year low of $1.0226 yesterday …
    • In level terms, EUR/USD opens this morning in the top half of the $1.02-1.03 range …
    • GBP/USD is operating back below the $1.24 threshold …
    • EUR/GBP is changing hands in the top half of the 82-83p corridor …
    • Today, the US manufacturing ISM (Dec) is due …