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DAILY CURRENCY UPDATE: STERLING REMAIN STRONG BUT DIDN’T MAKE ANY FRESH HIGH

Published by Uma Rajagopal

Posted on June 24, 2014

1 min read

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Banking interest rates Digital banking

Highlight:

Sterling remain strong but didn’t make any fresh high
AUD & NZD are boasted with strong HSBC Chinese Manufacturing Index
USD: Interest Rate remain low until next year

Key Takeaways

Sterling remains resilient but failed to surpass recent highs.
AUD and NZD gain strength supported by strong HSBC Chinese Manufacturing Index.
USD interest rates expected to stay low until next year.

References

Daily currency update: Sterling remain strong but didn’t make any fresh high – Global Banking & Finance Review

Frequently Asked Questions

Why didn’t sterling make a fresh high despite remaining strong?

Sterling sustained strength against major currencies but lacked the momentum or market catalysts, such as policy changes or data surprises, needed to break to new highs.

What boosted the AUD and NZD in this update?

Both currencies were bolstered by a strong HSBC Chinese Manufacturing Index, reflecting improved sentiment in China’s industrial sector which supports demand for commodities from Australia and New Zealand.

Why are US interest rates expected to remain low until next year?

Markets anticipate the Federal Reserve will maintain accommodative policy due to subdued inflation and growth outlook, keeping interest rates low through at least next year.

DAILY CURRENCY UPDATE: STERLING REMAIN STRONG BUT DIDN’T MAKE ANY FRESH HIGH

Key Takeaways

References

Frequently Asked Questions

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