Currencies & Markets
The inauguration of US President Donald Trump sent shockwaves through the currency market as investors weighed the threat of new tariffs.
The euro strengthened to $1.044, a five-week high, reflecting relief that President Donald Trump refrained from imposing tariffs during his first days in office.
The British pound was weighed down by a stronger dollar as Donald Trump was sworn in as President of the United States.
The offshore yuan depreciated as investors grappled with concerns over U.S. President Donald Trump’s trade policies.
The Indian rupee held near the record low of 86.6 per USD mark in January as slower growth increased calls for softer monetary policy by the RBI.
The ECB will likely cut rates again at its first meeting of the new year on January 30, as it continues its policy of gradual monetary easing.
UK economic growth will outpace Germany, France and Italy over the next two years, according to data from the International Monetary Fund. UK GDP is set to expand by 1.6% this year and 1.5% in 2026.
Declining UK retail sales are set to put more pressure on the Bank of England to cut interest rates further and faster.
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