Dear Reader,

Today's economic news and market action:

• Mixed tone to investor sentiment yesterday ...
• Currency-wise, the majors traded in very narrow ranges ...
• Reflected in the main pairs opening at very similar levels to 24hrs ago ...
• EUR/USD remains in and around the midpoint of $1.07-1.08 ...
• EUR/GBP has maintained its position above 88p ... 
• GBP/USD is operating above the halfway mark of $1.21-1.22 ...
• Data schedule is very light again on both sides of the Atlantic ...

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After decades of price stability, the return of inflation was one of the big stories of 2022. CPI rates hit forty year highs, reaching double-digit levels in many countries, resulting in a marked tightening of monetary policy and a sharp slowdown in economic activity.

Historic FX and interest rates for 2022

AIB's Economic Research Unit provides regular commentary on the domestic and global economy, currency and interest rate markets, and special commentary on key events...