Archive for June 20th, 2017

Foreign Exchange Insights and Next Week

A Tale of Two Currencies: the Dollar and Sterling

June 20, 2017

The political landscapes in the United States and Great Britain underwent transforming change during the past year. In the pendulum that ranges from globalism to nationalism, each of these countries took a decisive turn away from an international orientation. Tighter control over immigration featured prominently in the U.K. decision to leave the European Union and […] More

Central Bank Watch

Bank of Hungary

June 20, 2017

Hungary’s central bank left its key interest rate at 0.90% as expected and released the following statement of explanation. Some degree of unused capacity has remained in the economy, but this is likely to be gradually absorbed as output grows dynamically. The inflation target is expected to be achieved in a sustainable manner half a […] More

New Overnight Developments Abroad - Daily Update

Sterling and Price of Oil Falter

June 20, 2017

Sterling declined 0.6% following delayed Mansion house speeches by Bank of England Governor Carney and Chancellor of the Exchequer Hammond. Carney reiterated warnings that Brexit will damage the British economy, cited anaemic wage growth and slower personal consumption, and expressed opposition to hiking the central bank’s interest rate. Hammond staked out a soft position on […] More