The global currency market has been braced for volatility, as the Brexit negotiations drag on. December saw a string of central bank policy reviews but none of the big decisions surprised. However, the new year has brought surprises, in terms of unexpected trends.
The consensus opinion was that the pound would be under pressure. The Bank of England held its policy rates but the UK is suffering the twinned curse of higher inflation and recession. However, it’s the US dollar which has taken a hammering in the last 10 days, dropping to six-month lows versus most currencies. The Dollar
The consensus opinion was that the pound would be under pressure. The Bank of England held its policy rates but the UK is suffering the twinned curse of higher inflation and recession. However, it’s the US dollar which has taken a hammering in the last 10 days, dropping to six-month lows versus most currencies. The Dollar
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper