Afternoon Report: 18.00
- This afternoon financial markets have been on the back foot for most of the day following the negative outlook from Moody’s this morning. There have been a number of important marketing moving events through the day as follows:
- This morning, UK inflation figures came in below expectations, sending the GBP/ USD 0.46% lower on expectations that the Bank of England will be able to keep rates on hold for a longer period.
- The euro is not immune either following news that Greece’s recession has deepened. With EUR/ USD is down 0.35%.
- Its a different story with the yen pairs though with the USD/ JPY rallying over 1%. Against the yen, the euro looks fairly strong, with a gain of 0.68%.
Summary:
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