Friday 29/11/2024

John Hall • November 29, 2024

Daily Update 29/11/2024

Key Headlines:

BoJ Rate Hike Anticipation: Markets increase expectations for a December rate hike by the Bank of Japan.
EU CPI in Focus: Key inflation data to provide clues on the ECB’s next policy move.

Yesterday Recap

The EUR weakened in the afternoon following comments from ECB member Villeroy, who hinted at the possibility of cutting rates below the neutral level and keeping options open for the size of a potential December cut. Meanwhile, Germany’s CPI for November showed annual growth but fell short of market expectations.

Today’s Rates

Today's Interbank Rates at 09:54 am against GBP movement.

GBP>EUR – 1.2024

GBP>USD – 1.2696

EUR>GBP – 0.8317

EUR>USD – 1.0557

GBP>CAD – 1.7771

GBP>AUD – 1.9509

GBP>SEK – 13.838

GBP>AED – 4.6622

GBP>HKD – 9.8810

GBP>ZAR – 23.937

GBP>CHF – 1.1185

GBP>PLN – 5.1742

Today’s Key Takeaways

JPY Surge: Japan's higher-than-expected inflation data increases expectations of a December rate hike by the Bank of Japan.
USD Retreat: JPY strength triggers a USD sell-off, pushing GBP/USD to 2-week highs and EUR/USD to 1-week highs, though gains have since moderated.
Eurozone CPI in Focus: Key inflation data today will guide expectations for the ECB’s December rate cut, with a strong reading likely boosting the EUR.

29th November 2024

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