Interbank market and liquidity flow scan: The pound firms up against the dollar.

Media scan

British pound. US dollar. Scott Bessent. Sterling was on track to snap a three-day losing streak on Monday, as the dollar’s slide after the selection of fund manager Scott Bessent as U.S. Treasury Secretary lent support to most major currency pairs. Reuters.

U.S. dollar. The dollar retreated on Monday after a stellar run as the pick for U.S. Treasury secretary seemed to reassure the bond market about fiscal discipline, pulling yields lower and shaving some of the currency’s rate advantage. Reuters.

British pound. Bank of England. Inflation. Bank of England Deputy Governor Clare Lombardelli said on Monday she was more worried about the risk that inflation comes in higher – not lower – than the central bank has forecast as she made the case for only gradual reductions in interest rates. Reuters.

Ghana. cedi. The buying rate of the cedi as of 4 am EST is GHS15.77 versus the US dollar, while the selling rate offered is GHS16.19 versus the US dollar. Modern Ghana.

Foreign exchange rates, per Board of Governors-Federal Reserve System

EUR/USD=1.0552

GBP/USD=1.2629

AUD/USD=0.6461

USD/JPY=154.5900

Foreign exchange rates, per Reuters, as 8:46 am EST

EUR/USD=1.0495

GBP/USD=1.2572

AUD/USD=0.6508

USD/JPY=154.00

10-year bond yields, per Reuters, as of 8:47 am EST

U.S. 10-year: 4.349%

British 10-year: 4.349%

Germany 10-year: 2.22%

Australia 10-year: 4.459%

Japan 10-year: 1.071%

Alton Drew

25 November 2024