Dear Reader,

 

Today's economic news and market action:

  • Sentiment supported by a fall in US inflation last week …
  • S&P 500 gained 2.7%, Euro Stoxx 50 outperformed 3.3% …
  • Currency-wise, the dollar was on the defensive …
  • Yen on the front foot also …
  • Reflected by USD/JPY falling to near ¥128 …
  • EUR/USD opens this week above $1.08 …
  • GBP/USD is operating above $1.22 …
  • EUR/GBP changing hands at the midpoint of 88-89p …
  • BoJ meeting, ECB meeting account due this week …
  • UK data (inflation and labour market) also in focus …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0837   0.01 1.26
EUR/GBP 0.8856   -0.44 0.14
GBP/USD 1.2235   0.45 1.14
GBP/EUR 1.1286   0.44 -0.14
*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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