Dear Reader,
Today's overview of economic news and market action
- Equity markets moved lower on both sides of the Atlantic yesterday …
- On bond markets, US Treasury and German Bund yields declined by circa 1-2bps …
- In contrast, Gilt yields rose by 6-9bps, amid a marked hardening in UK market rate expectations …
- UK futures contracts firmed following the release of sticky UK wage inflation data for October …
- Against this backdrop, sterling was in the ascendancy yesterday …
- This sees EUR/GBP open back nearer the midpoint of 82-83p …
- GBP/USD is up above the $1.27 threshold …
- EUR/USD continues to trade in and around the $1.05 handle …
- Today, the Focus is on the Fed FOMCV meeting. A 25bps cut is expected …
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Today's Opening FX Rates
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% Change Day* |
End 2023 |
| EUR/USD |
1.0508 |
|
0.04 |
-4.78 |
| EUR/GBP |
0.8267 |
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-0.23 |
-4.63 |
| GBP/USD |
1.2705 |
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0.26 |
-0.19 |
| GBP/EUR |
1.2088 |
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0.23 |
4.85 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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