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GBP/USD reclaims 1.24 as dollar wilts and GBP/JPY reaches new 2023 high
The dollar sure is getting beaten up after that benign CPI data and so much so that the GBP/USD has now lifted above the 1.24 handle. At the same time the resilient price action in the USD/JPY has delivered a move to above 187 in the GBP/JPY. This was a potential highlighted move here earlier today and now it is playing out. The GBP/JPY has busted above its 2023 high which was in place at 186.77. The move higher has now extended to 187.29 and it may not be finished with yet, but we shall see. The high in the GBP/USD so far has been set at 1.2407, just as I conclude this update
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Dow Jones slides more than 600 points as White House tries to spin the positive
As expected the US stock markets slid into the opening and that has seen more than 2% falls for the Nasdaq 100 and the S+P 500. Meantime, the Dow...
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Dissecting the US data as US stock futures fall- check out the Nasdaq 100 futures right now
Following on from the previous update, noting the fall in US Q1 flash GDP at the same time as prices have risen, here is some more colour and opinion...
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US flash Q1 GDP falls and core PCE prices rise more than forecast- USD/JPY rises and falls
The very important US Q1 GDP estimate and core PCE price index have just been released. The flash estimate for Q1 GDP has shown a fall of 0.3% . That...
