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EBC Daily Snapshot May 10, 2024

EBC Forex Snapshot 10 May 2024 The dollar had a soft tone in early Asian trading on Friday on the back of soft data showing further signs of a cooling labour market. Sterling recovered from the lowest level since 24 April. Initial filings for unemployment benefits in the US have hit their highest level since late August 2023. The increase follows a weaker-than-expected NFP report which fuelled rate cut expectations. The BOE held its benchmark interest rate steady as expected, but more officials on the MPC backed a rate cut. New forecasts project that price pressures will fall below the target within two years. EBC Group Corporate News Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group Corporate News EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-10 08:32:12 (GMT)

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