The pound reclaimed some lost ground against a weakening euro on Wednesday, a day after plunging following weak data and ahead of the expected release of a report into lockdown-breaking parties at Downing Street. Senior civil servant Sue Gray is expected to publish the report on Wednesday, heaping more pressure on Prime Minister Boris Johnson as the country struggles with a slowing economy and decades-high inflation. Data on Tuesday showed a sharp slowdown in British business activity in May, with S&P Global's flash Composite Purchasing Managers' Index slumping to a 15-month low, adding to fears that the economy will slip into recession.
(Bloomberg) -- The yen’s recovery from a 20-year low is picking up pace, with options markets and analysts suggesting the rebound has some room to run.Most Read from BloombergPlot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI SaysTexas Shooter Kills Elementary School ChildrenStocks Finish Off Session Lows While Bonds Climb: Markets WrapHungary’s Orban Declares State of Emergency Over War, EconomyAfter rising over 3% from its trough, Japan’s currency may climb back to 125 as glob
It looks as if momentum has shifted in favor of the Aussie and Kiwi amid fears over the strength of the U.S. economy.
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