There are two pieces of bad news from the UK economy, after what has been a pretty good run of positive headlines. Ratings agency Fitch has warned that it may downgrade the UK’s AAA credit rating in the next two years, revising down its outlook to negative. UK unemployment figures were also poor yesterday but sterling is standing up reasonably well for now.
After what could be a quiet morning, this afternoon brings some important manufacturing figures from the US.
STERLING/EURO: Weak UK claimant count data has stalled this pair’s climb past €1.20.
STERLING/US DOLLAR: Sterling remains under pressure against the USD, which is very well bid amid impressive data.
EURO/US DOLLAR: This pair continued to creep down lower and today’s US manufacturing data may add further weight.
EURO/US DOLLAR: This pair continued to creep down lower and today’s US manufacturing data may add further weight.
STERLING/AUSTRALIAN DOLLAR: This pair continues to climb as sentiment remains weak towards the aussie dollar.
STERLING/NEW ZEALAND DOLLAR: Sterling found some easy gains against the kiwi dollar yesterday, despite some excellent NZ manufacturing data.
STERLING/CANADIAN DOLLAR: The 1.55 level is providing some support at these low levels against the Canadian dollar.
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