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Risk on was the dominant theme on the first full trading day of the year in FX, with both Sterling and the Euro setting fresh highs in the wake of stronger than anticipated UK PMI manufacturing data, and hotter inflation readings from the Eurozone. Sterling rallied nearly two cents against the Dollar as risk appetite [...]

The pound looks set for an important week this week with inflation, unemployment and retail sales data due out, even as it continues to do fairly well against the single currency… read more

Sterling was supported a little yesterday with decent retail sales figures and better than expected CBI Industrial Trends Survey although the Public Sector Net Borrowing for October did come in almost £1bn higher than expected…read more

going into the weekend it looks like Euro weakness could be the main market driver rather than the benefactor of Sterling or USD weakness…read more

Sterling, meanwhile, has lost a little ground against the Dollar in the aftermath of last week’s QE2 announcement from the Fed, on the back of a general dip in risk appetite. The Inflation report this morning could be one of the bigger data releases it has had to face in recent weeks

Overnight the Reserve Bank of Australia unexpectedly hiked interest rates by 0.25% to 4.75% giving a boost to the Aussie Dollar…read more

In Europe, central banks in the euro zone and the UK also meet this week. Neither are expected to make any policy changes. In the case of the Bank of England it has been anticipated that it could also announce some further QE measures. However, last week’s better than expected Q3 GDP report has changed that view…read more

With UK GDP coming in above expectations in Q3 and speeches from MPC members this week giving little away, views that the Committee may be poised to launch another round of QE at next week’s meeting have receded…read more

Tomorrow we have a bit more data out but nothing for the struggling Pound so sterling may need to rely on weakness in other currencies to make any gains…read more

Trading throughout yesterday and overnight saw various currency pairings test record levels, as markets reacted to various comments from central governments in addition to the usual data releases…read more

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