Market Updates
A hawkish Fed puts the dollar back in charge
1 min readThe Fed raised rates for the first time in three years. The detail was more hawkish than the decision itself. Dollar breaks higher against sterling and euro.
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A hawkish Fed puts the dollar back in charge
1 min readThe Fed raised rates for the first time in three years. The detail was more hawkish than the decision itself. Dollar breaks higher against sterling and euro.
Surging oil forces hand of central banks
1 min readRenewed US/Iran escalation has driven oil sharply higher, keeping inflation risks live and pushing central banks in the same direction.
Gilt yields hit 2008 highs as markets brace for ECB hike
1 min readSterling wobbles on UK fiscal concerns, the ECB looks set for a widely expected hike, and markets watch US inflation data for signs of a September Fed move.
Bond market intervention sends the dollar lower
1 min readA surprise US Treasury move to step up purchases of long-dated debt pushed bond yields and the dollar sharply lower last week, lifting both sterling and the euro. Both of those currencies experience their own lifts.
Weak US retail sales knock the dollar
1 min readA surprise slump in US retail sales, the weakest since May 2025, knocked the dollar and lifted both sterling and the euro going into this week. Plenty of data releases lie ahead.
Warsh’s no-guidance stance unsettles the dollar
1 min readThe dollar sold off last week as frustration with Fed Chair Warsh’s lack of guidance drove volatility higher. Both the BoE and Fed held and the euro found extra support.
All eyes on the Fed as a surprise hike on the table
1 min readBoth the BoE and Fed meet this week and whilst holds are the base case on each side, the Fed is the one to watch. A slim chance of a hike is already priced in.
Sterling in focus as chancellor surprise shakes up summer calm
1 min readNew PM Burnham caught markets off guard this week by naming John Healey as Chancellor, prompting a gilt sell-off and thrusting sterling’s fiscal outlook back into focus.
All eyes on US inflation as big dollar test
1 min readMarkets largely shrugged off renewed Middle East tensions this week, so Tuesday’s US CPI is the first real test of whether the dollar’s pullback has legs. A soft print would suggest inflation is peaking and keep the dollar on the back foot.