Dear Reader,

 

Today's economic news and market action:

  • US rate hike expectations softened yesterday …
  • Similarly, UK rates also moved lower …
  • Dovish Fed comments and a fall in US CPI sparked the move …
  • Both the dollar and sterling lost ground versus the euro …
  • Sees EUR/USD open up above $1.08 …
  • EUR/GBP is operating just below the 89p threshold …
  • GBP/USD is changing hands near the $1.22 handle …
  • EZ industrial production (Nov) & US Consumer Sentiment (Jan) due today …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0837   0.71 1.26
EUR/GBP 0.8881   0.30 0.42
GBP/USD 1.2204   0.40 0.88
GBP/EUR 1.1255   -0.30 -0.42
*versus Previous Day's European Open

 
 
 
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AIB Economist's Weekly Market View - 10 January 2023
 

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.
 
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Historic Rates for 2022
 

Historic FX and interest rates for 2022
 
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