Dear Reader,
Today's overview of economic news and market action:
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- Cautious tone to market sentiment yesterday
- Reflected in falls on equity markets
- Currency-wise, sterling was weaker amid lower UK yields
- It remains under pressure this morning following weak UK GDP for July
- EUR/GBP is above 86p, GBP/USD is below $1.25
- Ahead today, US CPI inflation numbers for August is a key release
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0735 |
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-0.02 |
0.31 |
| EUR/GBP |
0.8621 |
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0.45 |
-2.52 |
| GBP/USD |
1.2449 |
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-0.48 |
2.91 |
| GBP/EUR |
1.1593 |
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-0.45 |
2.59 |
| *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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