Dear Reader,

 

Today's economic news and market action:

  • Positive mood on markets yesterday …
  • Currency-wise, the main pairs remained confined to tight ranges …
  • Of the limited moves to note, sterling was holding a softer tone …
  • Evidenced by EUR/GBP opening above the midpoint of 88-89p …
  • GBP/USD opens below the midpoint of $1.21-1.22 …
  • EUR/USD continues to straddle the halfway mark of $1.07-1.08 …
  • US CPI inflation (Dec) poses event risk for the dollar today …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0761   0.14 0.55
EUR/GBP 0.8861   0.35 0.19
GBP/USD 1.2143   -0.20 0.38
GBP/EUR 1.1279   -0.35 -0.19
*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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