The pound rose to a 10-month high against the euro on Wednesday as investors assessed the political outlook in the UK and the possible shape of a future government under Andy Burnham, who is widely seen as the likely successor to Prime Minister Keir Starmer. Sterling strengthened after markets turned their attention to who could
The US dollar held firm on Tuesday as markets continued to price in a more hawkish Federal Reserve, while the Japanese yen hovered near a multi-decade low and the Indian rupee opened on a flat note against the greenback. The dollar remained supported even as oil prices edged lower on easing Gulf tensions. Traders largely
The GBP/USD exchange rate came under pressure on Monday morning as investors reacted to the ongoing political uncertainty in the UK. It retreated to 1.3224, down sharply from last week’s high of 1.3460. Odds of Keir Starmer staying as Prime Minister fall The GBP/USD pair retreated sharply as investors remained concerned about the UK’s political
The US dollar started the week with a familiar advantage: investors wanted shelter, but not outright safety. A fragile diplomatic track between the US and Iran reduced the worst fears around Gulf shipping, yet the currency market was still shaped by oil risk, higher Treasury yields and fresh political noise in Britain. The greenback held
The pound weakened on Monday as investors assessed mounting speculation that British Prime Minister Keir Starmer could soon set out a timetable for his departure, opening the door for Andy Burnham to emerge as the country’s next leader. Sterling was down 0.2% at $1.321. The currency has now lost around 3% since pressure on Starmer
The USD/JPY exchange rate continued its strong rally last week, reaching its highest point since 1986. It peaked at 161.81, up by 15% from its lowest level in May last year, putting investors on edge as they wait for the next actions by the Bank of Japan (BoJ). USD/JPY jumps after the hawkish Fed The
The US Dollar strengthened further on Friday, building on its weekly gains against major currencies as investors remained cautious amid growing geopolitical uncertainty in the Middle East. With US financial markets closed for the Juneteenth holiday and limited economic data on the calendar, market participants focused on developments surrounding US-Iran relations and comments from central
Major currency pairs traded within narrow ranges during the European session on Thursday after experiencing heightened volatility in the previous session. Investors turned their attention to the European Central Bank’s monetary policy announcement and upcoming US producer inflation data, both of which were expected to provide fresh direction to financial markets. US Inflation data triggers
The dollar steadied in Asian trading on Friday after suffering a sharp late-session reversal, as investors balanced hopes of a Middle East ceasefire against a still-uncertain path for US interest rates. The US currency edged up to about 160.07 yen, recovering some ground after falling to its weakest level in a week. The Australian and
The British pound was on track for its strongest weekly performance in nearly a month on Friday, benefiting from a weaker US dollar as investors responded to growing optimism that a potential Middle East peace agreement could be approaching. Sterling showed little reaction to fresh economic data indicating that the UK economy may be beginning