US dollar plummets to multi-month lows
The past couple of weeks have been market by a sharp pullback in the US dollar, amid renewed Federal Reserve interest rate cut speculation.
The past couple of weeks have been market by a sharp pullback in the US dollar, amid renewed Federal Reserve interest rate cut speculation.
The US dollar struck new multi-month highs in the first half of February, after the Federal Reserve pushed back strongly against bets for an imminent interest rate cut.
The euro has tested new multi-month lows over the past couple of weeks, in the wake of the European Central Bank’s (ECB) latest interest rate decision.
Volatility in the currency market remained elevated as 2023 came to a close, with bets on central bank interest rate cuts triggering some notable swings.
We have seen some notable volatility in the currency market over the past couple of weeks, particularly in the US dollar, which rebounded from multi-month lows.
The latter half of September has been characterised by significant US dollar demand, with USD exchange rates being propelled to new multi-month highs.
The past couple of weeks have been characterised by a downbeat market mood, which has been particularly painful for the pound.
We witnessed some notable swings in the currency market over the past couple of weeks, as investors revised interest rate expectations for the Bank of England (BoE), European Central Bank (ECB) and Federal Reserve.
The pound trended broadly higher over the past couple of weeks as some stronger-than-expected UK data releases bolstered Bank of England (BoE) interest rate expectations.
The past couple of weeks have seen the euro face significant pressure amid fears of an impending Eurozone recession.