The dollar is still the star of the show at the moment, facing one of its longest winning streaks on record and keeping other currencies under pressure.
The dollar index, a measure of the US currency against a basket of global peers, was up 0.3 per cent at 101.18, putting it on track for a potential 10th straight day of gains. Even at nine sessions by the New York close on Thursday, this was still one of the 10 longest winning streaks for the buck in almost 50 years.
The greenback was buoyed in the US on Thursday by commentary from Janet Yellen, the Federal Reserve chair, that a rise in short-term interest rates could “become appropriate relatively soon” as well as solid inflation and housing starts data.
Unsurprisingly, the euro is down 0.2 per cent versus the dollar at $1.0604, and is also eyeing a 10th straight session of declines, the longest losing streak since the common currency was adopted as an accounting currency in 1999.
The British pound is down 0.2 per cent at $1.2396, while the yen is 0.5 per cent weaker at ¥110.69 per dollar.
Futures tip London’s FTSE 100 to rise 0.1 per cent. Asian stocks have had a decent session, with Japan’s Topix up 0.6 per cent, Australia’s S&P/ASX 200 0.4 per cent higher and Hong Kong’s Hang Seng up 0.2 per cent. China’s Shanghai Composite was down 0.2 per cent.
UK companies due to report include: Electrocomponents, Fuller, Smith & Turner and Hornby.
Here is today’s economic calendar (London time):
- 07.00: German PPI
- 08.15: Mario Draghi speech in Frankfurt
- 09.00 Eurozone current account
- 10.30 Jens Weidmann speech in Frankfurt
- 01.00 Russian retail sales
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