Sterling fell across the board yesterday as looming UK political concerns combined with intensifying risk-off mood caused by the escalating geopolitical tensions between Russia and Ukraine spooked markets and bolstered the safe-haven demand for the US dollar. Further to this, the greenback also benefited from aggressive Fed rate hike expectations, as the world’s most powerful central bank is set to hint at policy normalisation on Wednesday when it concludes its two-day meeting.
Data released form the EU showed strong factory output growth helped by easing supply bottlenecks pushed activity in Germany’s manufacturing sector to a five-month high in January, a survey showed on Monday.
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Author: William Jones, Senior Relationship Manager.
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