Dear Reader,
Today's overview of economic news and market action:
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- Generally subdued mood to risk appetite yesterday
- On bond markets, UK Gilt yields continued to move lower
- Currency-wise, the main pairs were confined to tight ranges
- They open this morning at levels very similar to 24 hours earlier
- EUR/USD is in the lower half of $1.07-1.08, EUR/GBP is near 86p
- Ahead today, focus is on the ECB meeting and whether it hikes by 25bps or pauses
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0744 |
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-0.06 |
0.39 |
| EUR/GBP |
0.8596 |
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-0.08 |
-2.80 |
| GBP/USD |
1.2496 |
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0.01 |
3.30 |
| GBP/EUR |
1.1626 |
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0.08 |
2.89 |
| *versus Previous Day's European Open |
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Weekly Market View
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Top Dollar
Although the US dollar has retreated from last year’s peaks, which saw it reach its highest point on a trade-weighted basis in 20 years, it has remained at very elevated levels in 2023.
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Strong expansion in Ireland's service sector in August
AIB Ireland Services PMI - August
Strong growth in the Irish service sector was sustained during August with the latest AIB PMI® survey data marking exactly two-and-a-half years of successive monthly improvements in business activity, new business, and employment.
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Weekly Market Brief: 11-15 September
Some Buck
Although the US dollar has retreated from last year’s peaks, which saw it reach its highest level on a trade-weighted basis in 20 years, it has remained at very elevated levels in 2023.
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