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Market Boosts Odds of a BOE Rate Cut this Week
The US dollar is mostly firmer today ahead of what promises to be an eventful week. Sterling is bearing the brunt today, off a little less than half-of-a-cent as expectations creep up of a rate cut this week and Chancellor of the Exchequer Reeves plays up the poor state of public finances left by the Conservative government. Sterling (and the euro's) five- and 20-day moving averages have crossed. The yen is mostly within the pre-weekend range. Outside a of a few Asian currencies, most emerging market currencies have also begun the new week on softer footing, as well. Bond and equities are mostly firmer. China's CSI ... (full story)
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- Jul 29, 2024 6:33pm Jul 29, 2024 6:33pm
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