The pound fell against the rest of its peers on Wednesday as some softer-than-expected inflation data prompted traders to rethink their expectations of an August rate hike.
The New Zealand dollar saw some of the most dramatic movement last week, briefly falling to a two-year low on Monday before rallying hard throughout the rest of the week as investors sought to take advantage of its recent weakness.
Meanwhile the ‘Aussie’s’ early losses last week were largely driven by another dovish policy statement from the Reserve Bank of Australia (RBA), before riding the uptick in market risk appetite higher in the latter half of the week.
The Australian dollar looks to be a little more muted this week however, with a possible downturn in business and consumer confidence dragging on the AUD exchange rate.
Meanwhile the ‘Kiwi’ may struggle to replicate last week’s success in the upcoming session, with a lack of domestic data potentially leaving the currency exposed to losses should the US dollar rally following the latest US inflation figures.
Joining the corporate trading desk in 2007, Phil now overseas all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure
Phil has FSA approval and has completed the Certificate in International Treasury Management (CertiTM)