POUND LIVE: Pound dips against euro ahead of Euro Bank’s Mario Draghi latest update


pound exchange rate todayGETTY

The yard strengthened slightly against the euro on Monday

Sterling dipped by enveloping 0.1 per against the euro to 1.090 on Tuesday morning, and was also down against the US dollar at hither 1.285.

Markets are awaiting key speeches by ECB president Mr Draghi, as well as US Federal Formality chair Janet Yellen at Jackoson Hole later this week.

It’s longed the central bank chiefs will give an update on the direction of money policy in the eurozone and the US.

The euro has risen in recent months amid expectations the ECB wish scale back its money-printing programme at the end of the year.

In spite of that, sources have also said Mr Draghi is not set to comment on monetary game plan when he speaks at Jackson Hole.

The news sent the euro stoop at the end of last week, with the eurozone currency still struggling on Monday. 

At the but time, investors will be looking to Ms Yellen for hints over the next moment rate rise in the US.

Bank of England governor Mark Carney is not set to show up at the central banker event.

pound to euro chart august 21 2017Bloomberg

The pound moved up against the euro onwards of the Jackson Hole symposium

Craig Erlam, senior market analyst at Oanda, swayed: “The Jackson Hole Symposium is the obvious event people will be most interested in, with both Federal Hesitation Chair Janet Yellen and ECB President Mario Draghi making an display.
“Both central banks are on the cusp of announcing measures aimed at slash monetary stimulus in the coming months, the question is whether they order use this platform to prepare the markets for such a move.

“Reports closing week suggested that Draghi is unlikely to take the opportunity dedicated how the markets have misinterpreted previous remarks, an odd decision given the few of times the central bank has claimed its not interested in this.

“Still, we can require investors to pay very close attention to what he says and respond estimation.
“Yellen may not be so secretive on the other hand, given how open her colleagues contain been when discussing plans to start reducing the Fed’s balance veneer, which currently stands at close to $4.5 trillion.

“Traders, even so, may be more interested in hearing whether the latest inflation data has interchanged the view within the Fed on raising interest rates again this year, with customer bases currently unconvinced, to say the least.”

More to follow…

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