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Dear Reader,

 

Today's economic news and market action:

  • ECB and BoE raised rates by 50bps yesterday, as expected …
  • ECB highlighted its intention to hike rates by 50bps again in March …
  • However, futures contracts softened and yields fell following the meetings …
  • Amid the softening in market rates, the euro & sterling were on the defensive …
  • Sees EUR/USD open this morning below the $1.09 handle …
  • GBP/USD is operating down in the $1.21-1.22 range …
  • EUR/GBP is up above the 89p threshold …
  • Ahead today, the US labour market report (Jan) may impact the dollar …

 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0888   -1.18 1.74
EUR/GBP 0.8933   0.46 1.01
GBP/USD 1.2186   -1.64 0.74
GBP/EUR 1.119   -0.46 -1.00
*versus Previous Day's European Open

 


 
 
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AIB Market Talk Podcast - New Episode!
 
 
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Click the link to listen to AIB Market Talk featuring discussions with our Economists and Treasury experts, providing you with specialist insight into the prevailing topics impacting Financial Markets.


 
 
 
ECB Watch - February 2023
 
 

The February meeting of the ECB’s Governing Council saw the central bank raise rates by 50bps. This follows a similar sized move in December, which came after two consecutive 75bps hikes in interest rates in the autumn and the initial 50bps move in July.


 
 
Weekly Market Brief: 30 January - 3 February
 
 

Staying the Course

Markets will be very much focused on central banks in the week ahead, as the US Federal Reserve, Bank of England and European Central Bank hold their first monetary policy meetings of 2023.


 
 
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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...