ADIV - Market Boosts Odds Of A BOE Rate Cut This Week
2024-07-29 06:56:00 ET
Summary
- 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.
- Outside a few Asian currencies, most emerging market currencies have also begun the new week on softer footing as well.
Overview
The US dollar ([[DXY]], [[USDOLLAR]]) 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 few Asian currencies, most emerging market currencies have also begun the new week on softer footing as well....
Market Boosts Odds Of A BOE Rate Cut This Week