British Pound Futures Market News and Commentary
The dollar index (DXY00) on Friday rose +0.165 (+0.17%). Mar euro-fx futures (E6H0) closed down -0.0026 (-0.23%), and EUR/USD (^EURUSD) fell -0.0029 (-0.26%). Mar yen futures (J6H0) closed up +0.0023 (+0.25%), and USD/JPY (^USDJPY) fell -0.17 (-0.16%).
The dollar index climbed to a 1-1/2 month high Friday after dovish ECB comments weakened EUR/USD. The dollar fell back from its best levels after a slump in stocks boosted the safe-haven demand for the yen.
EUR/USD tumbled to a 1-1/2 month low Friday on comments from ECB Governing Council member Rehn who said Eurozone inflation expectations have "become stuck" on a low level. His comments suggest he is in favor of maintaining the ECB's stimulus measures. EUR/USD fell despite better-than-expected European manufacturing activity after Friday's Eurozone Jan Markit manufacturing PMI rose +1.5 to a 9-month high of 47.8, stronger than expectations of +0.5 to 46.8. Also, the German Jan Markit/BME manufacturing PMI rose +1.5 to... Read more