Daily Currency report
OverviewThe major pairings continued as lack of data gave the market little to get focused on. There was a security fear at a Senate building in the US that saw the dollar weaken, albeit very slightly and temporarily. Reports that nerve agents had been...
Overview
The major pairings continued as lack of data gave the market little to get focused on. There was a security fear at a Senate building in the US that saw the dollar weaken, albeit very slightly and temporarily. Reports that nerve agents had been traced were quickly overturned and the market shrugged off the initial scare.
GBP
The sterling fell to a five-week low against the USD after mixed manufacturing sector data. The UK manufacturing output rose by 0.3 per cent in December, but fell by 2.2 per cent in January.
USD
The dollar ended the US session marginally stronger as former FED chairman Alan Greenspan gave an upbeat assessment of the US economy.
EUR
The key news was the hawkish comments from ECB council member Liebscher on further ECB tightening.
JPY
The Bank of Japan's rate decision was 7-2 in favour of keeping rates on hold. This has given the market some slight nerves.