The US dollar comeback continues, aided by better-than-expected US economic data and higher US bond yields. Get your market update from nickcawley1 here:
UK Chancellor of the Exchequer Jeremy Hunt is expected to unveil a host of reforms later this week to help boost the competitiveness of the City of London. According to various media reports, the new Chancellor is looking to pare back ring-fencing rules on the UK’s largest banks and adjust Solvency II rules to boost the insurance sector's competitiveness.decisions ahead of the Christmas break.
The Fed is expected to increase rates by 50 basis points next Wednesday, while the Bank of England is also expected to hike rates by half-a-percentage point the next day. As always, the post-decision press conferences will need to be followed closely.Cable is trading on either side of 1.2150 this morning, nearly two big figures lower than Monday’s multi-month high.
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