(Bloomberg) -- The pound’s popularity in cross-border payments tumbled to its lowest level in more than a decade as the U.K. navigates the post-Brexit landscape, while the euro edged out the dollar for the top spot last month.Sterling’s market share has dropped for four straight months and in May registered the lowest usage since at least 2010, when the Society for Worldwide Interbank Financial Telecommunications started tracking the data. In contrast, the euro overtook the dollar for the first
(Bloomberg) -- The Federal Reserve’s hawkish turn prompted both Goldman Sachs Group Inc. and Deutsche Bank AG to abandon their calls that the euro will rally against the U.S. dollar.The euro dropped as much as 1.1% to 1.1994 per dollar on Wednesday -- the biggest tumble since April 2020 -- after policy makers signaled the Fed would boost interest rates twice by the end of 2023, which surprised markets. Some even forecast a move next year. The currency breached 1.20, which suggests to some trader
The Euro has gone back and forth during the trading session on Wednesday as the market continues to hover right around the 50 day EMA.