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Home2021August
  • King Dollar

Last week the markets were overshadowed by the events unfolding in Kabul and across Afghanistan. With chaos seemingly engulfing the country, investors turned tail from riskier assets and sought the safe haven of the dollar.

  • Sterling Strong Week

Last week, Sterling enjoyed a solid week in reaching its highest levels against the euro for the first time in 18 months; in what was seen a quiet trading before retreating on Friday. Following a solid rebound in GDP, gave encouragement thoughts of the economy returning to pre-pandemic levels by end of year.

  • Decision Day UK and US

As expected, two events dominated the market’s last week, the monthly meeting of the Bank of England’s Monetary Policy Committee and the employment reports from the US.

  • Busy times ahead in currencies markets

Last week, the dollar put in its worst performance this year after the Federal Reserve meeting was perceived as less hawkish than analysts predicted. In actual fact, the Fed did say that “progress” was being made towards normalisation, but in a relatively quiet market, traders ignored the subtleties of language and decided to sell dollars.